Nigel Wilson: UK plc needs constant, disruptive renewal
4 Jan 2016
We need to invest in assets for the long term, not shareholder gains, says the chief executive of Legal & General, the largest UK shareholder.
Running a large company in the UK is about to get tougher. Britain experienced substantial asset and share price growth between 2008 and 2014 – not because of entrepreneurial excellence, but largely due to windfalls from QE, tax cuts and the Chinese-driven increase in commodity prices. These mainly benefited the already-rich, increasing inequality and social exclusion.
There are no easy gains in future – we need long-term plans to address our chronic housing shortage, underinvestment in physical and digital infrastructure and our shortage of 21st century skills.