Murphaloon shifts his ground on PQE.

Several people have tried to explain to Richard Murphy (affectionately known as “Murphaloon” in some quarters) that infrastructure projects cannot for the most part be just turned on to deal with recessions, and then turned off again when the recession has passed. In addition, in the particular case of the UK, relevant skills just aren’t available. Up to now, getting those points into his head has seemed impossible.

However, in his latest post he seems to be talking about using peoples’ QE to build more houses in London over the next TEN YEARS.

Well that’s a totally kettle of fish. If the UK’s house building efforts are GRADUALLY increased over ten years, that gives time to train people. Plus that ten year program is clearly not to any great extent designed to deal with recessions, which normally last three to five years.