Nanny believes that if she throws enough money at all of life's problems, then they will simply go away.
In theory that might work, sometimes. However, she ignores three fundamental problems with her theory:
1 The money she is using is not hers, it's ours.
2 Money spent, without proper oversight and control is very often wasted.
3 Throwing money at issues more often than not causes inflation and corruption, look at the damage done to Africa by UN and international "aid" programmes.
As it is in Africa, so it is in the North of England. Nanny was informed a few weeks ago that the enormous amount of public money (I love the euphemism "public money"...it's not "public" it's our money!) on northern cities has only made them poorer.
Nanny's 263 page report, the Competitive Economic Performance of English Cities, noted that not one city north of Derby has an economy that is performing better than the national average.
The report went on to note that state efforts to improve business, productivity and earnings in northern regions have only managed to make things worse!
The conclusion of the report is that Nanny's spending, at levels equivalent to the now defunct Soviet bloc, have in fact done more harm than good.
"The overt policies followed so far and the unintended consequences
of others have either failed to close this gap or actually made it worse.
This is a major, persistent and long-term problem
for the English economy as a whole."
An initial study for the programme, which was published in the spring, was hailed by the Smooth Talking Bar Steward, John Prescott, as showing "remarkable progress" and an "urban renaissance".
Seems to me Prescott has been telling porkies, or didn't read the initial study too well.
The main author of the report, Professor James Simmie of Oxford Brookes University, summed it up rather well:
"There is not enough private sector expenditure.
The north is far too dependent on public services expenditure."
In other words, a culture of dependency has set in; which in turn erodes and debilitates the region and the people.
Public spending in London is 33% of the economy, compared to over 50% in much of the north. In fact London contributes around £11BN a year to other regions.
State domination of the economy has throttled private business, and increased dependence on the taxpayer and on benefits.
The Institute of Economic Affairs and the Centre for Economic and Business Research showed that 65% of the economy in the North East depends on the state, and 57% in the North West.
The lesson here is simple; the state is destroying the country and its people.
The enemy of the people is the state.