The Great Debate UK

David Willetts on the Anglo-Saxon finance model

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Demography is the most powerful single structural explanation of changes in the economy in society around us, David Willetts, Conservative Shadow Minister for Universities and Skills told Reuters ahead of a talk about European policy options on Wednesday at the London School of Economics.

Population changes in Europe and Britain will contribute to the UK becoming Europe’s largest economy in the 2040s, he said.

“So when I read that the Anglo-Saxon model is dead, and that somehow we’ve fallen way behind the continent of Europe I do think that a society capable of generating quite substantial economic growth — if we can emerge from this crisis — has still got some things going for it,” Willetts said in reaction to comments made by French President Nicolas Sarkozy, which suggested that continental economic ideals will prevail over the Anglo-Saxon model.

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