Luke Johnson is on fine form in his FT column

“Genuine wealth creation does not derive from speculating in real estate – it comes from advances in technology and production…..Pension funds, insurance companies, banks and other institutions should be rewarded for backing companies that create jobs and penalised for investing in inanimate assets such as property, commodities and suchlike.”

The rest of his article is here

I agree and if there are to be tax cuts to stimulate the economy why not cut national insurance contributions by employers smaller businesses and new business start-ups? When unemployment is rising as quickly as it is the key is to prevent hugely damaging ‘slash and burn’ labour shedding by businesses who have become heavily risk averse.