1. Exquisite Tweets from @JeremyCliffe

    PreoccupationsCollected by Preoccupations

    Message from a thoughtful Corbyn supporter: don't I realise that Corbyn just wants to make Britain more like social-market Germany? Britain should indeed become more like Germany, but Corbynism is a long way from how you'd do that.

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    JeremyCliffe

    Jeremy Cliffe

    Want to know what it would take to make Britain more like Germany?

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    JeremyCliffe

    Jeremy Cliffe

    1) You'd bring in measures - educational, cultural, social - to raise social trust in the UK to the level needed for the new system to work. [yep, this would be a long-term project]

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    JeremyCliffe

    Jeremy Cliffe

    2) You'd federalise the UK to give all regions the confidence and powers to develop their own industrial specialisms, while at the same time redistributing extensively from rich to poor ones.

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    JeremyCliffe

    Jeremy Cliffe

    3) You'd turn the Lords into a Senate of the regions, to ensure each region had a voice. And you'd apply PR to the Commons, to make the electoral system more open and responsive to a more diverse UK political economy.

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    JeremyCliffe

    Jeremy Cliffe

    4) You'd institutionalise worker-management cooperation in firms, create a network of local banks (preferably better regulated than their German counterparts) and seek to reduce the British private sector's reliance on equity finance.

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    JeremyCliffe

    Jeremy Cliffe

    5) You'd also incentivise: patient finance (encouraging long-term loans, discouraging early sales of stakes in promising firms); collaborative union-management relations; measures to get workers onto boards.

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    JeremyCliffe

    Jeremy Cliffe

    6) You'd invest in business-academia collaborations integrating British universities with applied science centres like Germany's Fraunhofer network (the UK's Catapults are shamefully under-developed), aiming to hit a 3%/GDP R&D spend.

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    JeremyCliffe

    Jeremy Cliffe

    7/7 In the long-term you'd rejoin the EU and probably join the Euro too; the better to sell goods and services to the continent, but also to make Britain the European hub for the boom continents of Asia and Africa.

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    JeremyCliffe

    Jeremy Cliffe

    Germany's economy minister @peteraltmaier responds to my thread, telling the UK: be yourself! He has a point: Britain will best succeed by honing its own strengths rather than copying those of Germany.

    Peter Altmaier @peteraltmaier
    We all would lose if UK would be like Germany. High spirits, acting greatly even wrongly, orderly anarchy:What a great nation!

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    JeremyCliffe

    Jeremy Cliffe

    That said, I remain convinced that Britain can learn from Germany's high-tech engineering economy and its insurance-based welfare state. The challenge is to combine these with British strengths like financial/biz services and radical university-based innovation.

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    JeremyCliffe

    Jeremy Cliffe