Jeremy Hunt used the word 'declinism' this afternoon (Friday 27 January) in a keynote speech to executives from companies including Meta, Microsoft, Amazon, Apple and Google, several of whom made multiple attempts to adjust their sets during the course of a very long hour.
"He made that up", said Billy.
"It's a pure Huntism", said Tracee.
"Both wrong. It means the belief that a society or institution is tending towards decline." Andy banged his 'Port Vale for Europe' down on his desk.
Billy perked up: "As in, a statement based on cognitive biases such as rosy retrospection, to view the past more favourably and the future more negatively? You're kidding."
"You okay, Bill?" Tracee looked concerned.
The chancellor was trying to convince his audience that Britain will become the next Silicon Valley (even though there is no suggestion the world needs a successor to the current one), whilst acknowledging the UK had major weaknesses including poor productivity, a skills gap and low business investment.
"Way too talk us up, Jezzer", sighed Tracee.
Mr Hunt also indicated he was focused on solutions to the UK’s labour shortages, saying he wanted people who retired early during the Covid pandemic to return to work. “Britain needs you,” he said. Some who listened in complained that the chancellor lacked policies, small businesses among them who have warned that UK Government plans to slash energy subsidies will cause them pain ranging from 'acute' to 'endgame'. This month the Government announced it would scale back its energy relief to small businesses, leaving around 5.5 million such companies with reduced assistance at a time many insist the most need it; even more than the three previous times small businesses yowled they most needed Government support.
It is estimated that one in four small businesses will have to close, restructure or downsize their operations in order to survive. For some reason the Federation of Small Businesses say that the 30 per cent of such businesses who will receive only £49 in assistance this year think it is not enough. The reduced energy package will provide small businesses with a flat rate per unit discount from 1 April for a 12-month period. Discounts of £19.61 per MWh for electricity and £6.97 per MWh for gas will be applied when prices raise above a certain threshold.
