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Keynes Society

Keynes Society:
Jon Moulton, Founder of Alchemy Partners

Jon Moulton, Founder Alchemy Partners but now heading up the venture capitalist business Better Capital gave an enthralling presentation to the Keynes Society on the 21st of January. He turned his attention on the looming fiscal crisis created by the eye-watering level of state borrowing. The UK public sector has been borrowing for all but 3 of the last 50 years and Government debt is rising far faster than ever before. Mr Moulton argued that the rising share of national income taken by the state would impact negatively on the economy's underlying growth rate in the years ahead. And that hopes of a strong rebound in GDP from consumers were wide of the mark. Rising unemployment, massive consumer debt levels and the prospect of rising inflation and higher interest rates are likely to hit spending power just as the economy moves tentatively into a recovery.

Our next meeting is on the 28th January with the sports economist Professor Stefan Szymanski from the Cass Business School.

Geoff Riley

DATE POSTED: 21 January 2010

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