As commented on in previous posts, our current position as a society is a combination of several things of which the most relevant are repeated here.
· Our democratic system.
· That UK has had over a century of ‘education for industrial and environmental decline’.
· The continuing reductionist/compliance approach to organisational management.
We have failed as a society to evolve the democratic system to allow proactive action in a world in which we have little leverage over accelerating change and our efforts are dissipated by our failure to educate for creative thinking at systems level; instead relying on the command and control tactics of reductionism and compliance. (see report on QCA and SATS today)
Gordon Brown is caught in the headlights of the result of this deline and no political party has the ability to reverse this alone. Unless we (particularly the media) recognise this, our demise as a coherent society is certain by our failure to keep ahead of the oil curve.
Last night, as skiing operators and other holiday companies across the UK reported customers shunning expensive trips in favour of cut-price deals, Currency Exchange on London’s Oxford Street was selling euros for as little as €1.0532 to the pound. After commission and a handling fee, however, €18 cost The Observer £19.61, an exchange rate of €0.918 to the pound.
Tourists at Birmingham, Liverpool and Luton airports were also getting less than €1 to the pound after sterling tumbled in value every day last week.
Customers changing £200 at Birmingham and Liverpool were last night receiving just €197.13 from Travelex counters, while those at the ICE bureau de change at Luton took away €199.63 – an exchange rate of €0.986 to the pound at Birmingham and Liverpool and €0.998 at Luton.
Tories and Liberal Democrats laid the blame for the pound’s collapse firmly at the door of Gordon Brown. Philip Hammond, shadow Chief Secretary to the Treasury, said the Prime Minister’s decision in the pre-Budget report to let borrowing soar to fund £20bn of tax cuts had severely damaged – rather than boosted – economic confidence and people’s willingness to spend.