In the Manchester Evening News‘ Greater Manchester Business Week 23rd., May, I thought the layout of page 5, ironic. In the centre of the page, there is an article about the outgoing governor of the Bank of England, Mervyn King. Stating that after a tour of Salford Media City campus, he was quoted as saying that “Greater Manchester’s universities, meant the city region was in a good position to deliver a bright economic future”. Remember, he was one of the financial experts that did not foresee the collapse of major banks and the melt-down of the Global Norths financial sector, resulting in the on-going recession. So, does his word portent more gloom for our City region?
The reality of further gloom for our City region is reflected in other articles on page 5. With job losses due to Antler moving its HQ to London. Also RBS announcing more job losses (this is one of the banks Mervyn King failed to see as a failing bank), after the many it has already made. Then there is a small article on the Co-op, selling it’s car-dealership. But no mention of the Co-op Group being in trouble and having been downgraded to ‘junk’ status. Will we find this ‘ethical’ bank is also, in reality another failed bank?
Finally, to ensure Manchester retains its’ ‘Green’ credentials, there is an article on ‘fracking’. Stating ‘fracking’ could create 74,000 jobs (how many times have we read, that this or that would create jobs?). Along with a story about Manchester Airport Group proposing that the government give a “holiday” of the Air Passenger Duty. What happened to reducing our carbon emissions in an attempt to prevent catastrophic climate change? Despite our business and council leaders continual failures, they continue to pursue the same failed policies, increasingly accelerating into the proverbial brick wall.