The lessons of history are that rebuilding and modernisation are viable alternatives to austerity. The despots of 17th, 18th and 19th century Europe knew this. The US in the 1930s knew this and the post 1939-45 war leaders knew this. That second world war grew out of the post 1914-18 war reparations and the austerity they caused.

At the moment, the construction industry is in trouble, with a fall in output of 4.8% in Q2 2012 as the UK goes back into recession. The Housing report for 2012, compiled by National Housing Federation, Shelter and Chartered for Institute of Housing identifies rising overcrowdedness and homelessness, and cuts to housing benefit see many hundreds of thousands at risk of being unable to afford their homes, including over 11,000 families in Birmingham. On top of this, there is…
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