Can We Manufacture An Economic Renaissance?

In his March 2017 Budget speech, Chancellor Philip Hammond argued that ‘tackling Britain’s productivity challenge’ is the ‘cornerstone to ‘raising living standards; as well as to ‘prepare Britain for a brighter future’ after Brexit. Hammond’s comments aren’t new and, in fact, reflect those of Gordon Brown 20 years ago that: ‘The first challenge is to increase our productivity’. However, while lacklustre productivity has hung over the UK, and all Western economies for decades, there seems little idea as to what to do about it, or to deliver a better future for all.

In his new book, Creative Destruction: How to start an economic renaissance, economist Phil Mullan argues that the only way to ensure a better future is to create one. For Mullan, what is needed is comprehensive economic restructuring backed by political and cultural change. For too long state intervention has been about ‘stabilising’ the economy: creating a corporate dependency that has entrenched economic stagnation.

This restructuring means embracing the painful disruption involved in letting the low-productivity parts of the economy go, to allow new sources of wealth creation to flourish. Crucially, for Mullan, this means seizing both the economic and democratic opportunities offered by Brexit.

So how do we create an economic renaissance? Do we need a bout of creative destruction, or should caution still reign? And does Brexit offer important opportunities to act decisively to renew British capitalism?

Phil will introduce his book followed by questions and comments from our critical panel, before discussion is opened-up to the audience.


Thursday 11 May 2017


7pm to 8:30pm




useful reading:

Creative Destruction: How to start an economiuc renaissance, recording of Phil Mullan discussion his book at it’s launch, 3 April 2017

Building our Industrial Strategy – Our 10 Pillars, HM Government

Go for Growth, IoI Economic Forum response to the Green Paper on industrial strategy prepred by Phil Mullan, James Woudhuysen, Andy Shaw & Rob Lyons, March 2017

We need big, bold economic thinking in the Brexit era, Phil Mullan, Spiked, 9 March 2017

Unleashing business investment will revive Britain’s zombie economy, Phil Mullan, International Business Times, 12 October 2015

Productivity: the UK’s No.1 challenge Frances Coppola, Pieria, 20 March 2015