Happy New Year to all; and now we roll our sleeves up to achieve what the opportunities of the year put before us.
Few were sad to see the end of 2020. It has been a bad year, which is one reason for not doing a jaunty end-of-year round-up yesterday.
There have been happy things: Britain came out of the European Union at last on 31 January 2020 and the hang-over transition period ended as the new year fireworks were bursting, and with a good, new trade treaty agreed, not a cliff-edge. However the dominant theme of the year has been the plague from Wuhan.
The worst thing has not been the disease but the lockdown imposed to try to control it, which failed, lengthening pain. I found it hard to celebrate the New Year – when they end the lockdown, then I can celebrate.
In the meantime, we look ahead. There is work to be done.
For all of us, the priority is to work, and work hard, at whatever we do that is economically active, or social. The lockdown has trashed the economy and bankrupted many, but the overall structure is sound, when allowed to work, and hard work will revive the engines of prosperity. Work is there, fundamentally, to create value, as Adam Smith explains. There can be forms of work which are valuable in one sense but create no lasting value, such as the work of civil servants, judges, stage actors and the like: the priority is value-creation as all prosperity depends on it. (If that means sending unnecessary civil servants out to work in factories and shopfloors, I am all for it.)
Society too has taken a body-blow: we have got unused to congregating together, attending church, organising social gatherings and attending and organising the clubs and societies which form the sinews of active society, and it will take an effort to convince anyone to come off the computer screen, stop watching daft YouTube videos (guilty as charged) and to step outside the house and into those social groups. It has even got to the basic level of decay that many have found they do not have to give a friendly greeting or to smile.
Within government too, action is needed, and it must not be driven by professors on a power-trip. Indeed after this period of utter negation of liberty, we need to see a major drive to boost individual freedom. Politically it will be important to be seen to champion freedom and personal responsibility, but then any politician can make the right noises: Tony Blair was hailed as a champion of civil liberty but in the event was an enemy to it. Society suffers and the economy suffers when its members are not free. We can thrive economically and in our mental state when we have personal responsibility and the freedom to pursue our personal goals. I feel more specific articles coming on.
In a few days’ time the country with the world’s biggest national debt will have a new President, and we must see how he swings America’s weight around.
Liz Truss for one will be busy, signing even more trade deals across the globe. Fascinatingly, her bouncy confidence and speed of action have driven even the glacially slow European Union to up their game in signing deals in the wider world. They are being overtaken though.
Then the loneliest man of them all is Rishi Sunak, with an empty Treasury and knowing that he if he raises taxes to fill the gap, it would bring no more cash in anyway, and would put another wrecking ball into the economy.
There is a lot to look forward to in 2021, but it is not going to be easy. We cab look for politicians to acct wisely, but really the hard work is for the rest of us. We must all work hard.