How we can create more jobs and cut the deficit at the same time

Spending cuts alone won't solve Britain's debt problems. We need more jobs. That means encouraging the entrepreneurs who create them. Here, Simon Caufield proposes four measures to get Britain back to work.

Only once in 800 years has a government avoided default once its debt reached 90% of GDP. That's according to Carmen Reinhart and Kenneth Rogoff in their study of financial crises in their book, This Time is Different. That was Britain after the Napoleonic wars, when some of the repayments were made with the spoils of war.

Why does this matter to you? Because, if you include public sector pension liabilities, current UK debt is well past 90% of GDP. There's still much complacency about our debt problem. We have been lulled into a false sense of security by ultra-low interest rates. And many other countries have the same problem.

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Simon Caufield started out as an engineer and has an MA in engineering from Cambridge. This was followed by an MBA from the London Business School.

 

After graduating, Simon worked his way up to become a Management Consultant for banks and insurance companies. This gave him the chance to see the city from the inside.

 

In 2001, Simon started his own company to develop software designed to price banking services, such as loans and deposits. After growing the company to 100 employees, he went on to sell this in 2007, looking for his next challenge. 

 

Also during 2007, Simon ‘sacked’ his fund managers and took complete control over his investments.  Now he devotes all his time to investing and is an angel investor to help start-up companies. He has built up a reputable 20 years in the industry.

 

Simon writes his own investment newsletter – True Value. This follows the strategy he established in 2007 and is based on assets that are priced way below their true value.  He scours the worldwide markets for equities, bonds and alternative investments to find opportunities that fit his conservative and contrarian approach.