IS it not now perfectly clear to all sane people that the economic strategy pursued by the present UK government and for that matter all nations around the world over the past 11 years has failed the people with unprecedented consequences that will reverberate for decades to come? Indeed our young will be paying for this mess that was not seen by government until they die.

For those in power could only see the virtues of financial non-tangible markets and service industries that provide little in terms of long-term structural and economic stability.

Indeed, the shock that we are currently in is not over and may not wither for another two to three years at least. Currently we are committed to spending £1 trillion to prop up our economy and worldwide this is currently around £5 trillion of support funds. Unfortunately this will not do the trick, as there is still over $100 trillion of debt out there that will curtail any chance of a global economic upturn.

Now is the time therefore to re-engineer our economy on firm foundations that are literally recession-proof. That mechanism has to be the creation and manufacture of technological goods that no other country in the world can produce. Indeed, such a strategy is recession-proof, as even in bad times, nations will still buy leading edge technology no matter what the financial and economic climate might be. The reason, governments and people will purchase advanced technological goods that are far more efficient, cost less and save money than the old high energy consuming goods that constantly burn a financial hole in their pockets. Therefore our government has to think anew and invest now not in financial institutions or service industries but a renaissance of technological products that no one else can produce.

For the UK has the most innovative and creative people in the world (according to Japanese and German studies) and all that is needed by sane politicians is to invest in the creativity of the people themselves. Therefore forget about the system that has literally brought the nation to its knees and where it will happen again if we do not learn anything from this present politically induced human disaster. It appears though unfortunately due to current political decision-making that we are still going down the same old road to ruin, wasting hundreds of billions in the process and which is being led as usual by a government that just does not know where it is going.

(Dr)DAVID HILL World Innovation Foundation Charity (WIFC) Bern Switzerland