Patrick Minford is one of those individuals who rarely minces his words. As such, no-one should be too surprised that his response to Deputy PM Nick Clegg’s suggestion that Wales’ economy needs re-wiring (whatever the hell that means), was to say, “It’s nonsense. The man’s deluded.”
It’s an observation all the more telling in that besides being a senior academic in Applied Economics at Cardiff Business School, Prof Minford is also a leading light in the Conservative Way Forward.
Clegg seemed to be arguing that it was time of cut off the supply of state subsidy to Wales and instead invest in “cutting-edge manufacturing”. The Lib Dem leader had presumably not been briefed on the departure of companies such as Bosch, LG and Sony. Quelle surprise.
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