Discussion about the economic situation on Murnaghan on Sky News this morning.
One of the panellists (I can't remember who) said a programme of house building was the main factor in lifting the United Kingdom out of recession in the 1930s.
This is not strictly true.
It was a programme of house building combined with protection (tariff walls that protected the British economy from external competition) and exchange controls that ended the recession.
Also remember that the house building in the 1930s was almost entirely private sector, not public sector.
One of the panellists (I can't remember who) said a programme of house building was the main factor in lifting the United Kingdom out of recession in the 1930s.
This is not strictly true.
It was a programme of house building combined with protection (tariff walls that protected the British economy from external competition) and exchange controls that ended the recession.
Also remember that the house building in the 1930s was almost entirely private sector, not public sector.
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