Buck: Five ideas to boost jobs in London

The number of people out of work and claiming Jobseeker's Allowance rose by 5,300 to 1.6 million in October.

Every number has a human face - a young person doomed to the worst possible start in life, a family income devastated, frustration and despair.

Worsening unemployment and flat-lining economic growth may be partially linked to the crisis in the Eurozone, but then the deep recession which gripped Britain in 2008/9 stemmed from the freezing up of the global banking system, itself rooted in the debt-ridden US mortgage market.

It isn't possible to simultaneously argue that today's worsening economy was born overseas but the last recession was home grown, and somehow a consequence of Labour over-spending on things like police and Sure Start centres.

In any event, the economy has been effectively stalled for a year now, with little improvement even before the latest problems in Europe.

The big difference between 2008 and 2011 is how the different governments responded to economic shock.

Cameron's government is driving a cuts and austerity programme which is itself making the situation worse- adding to unemployment and homelessness, with all their human and financial costs, and undermining the demand for goods and services which will get the economy growing again.

Already, rising unemployment has helped push government borrowing up £46 BILLION more than they planned for.

Quite simply, without growth and jobs, we cannot get the deficit down.

We have set out five ideas to boost jobs in London and across the country.

First, repeat the tax on bank bonuses to fund more than 10,000 jobs for young people in London and build thousands more much-needed affordable homes.

Second, bring forward long-term investment projects, such as the 160 school buildings cancelled in London last year, to get construction workers back to work.

Third, temporarily reverse January's damaging VAT rise to help our high streets and give a couple with children a £450 boost.

Fourth, cut VAT on home improvements and repairs to five per cent for a year to help homeowners and small businesses.

And, finally, a one-year National Insurance tax break for small businesses which take on extra workers - which could benefit up to 650,000 small firms in London and the South-East.

There are no miracle cures and any and all governments would be making difficult decisions now, as the developed world responds to the toughest challenges for many decades.

That doesn't mean there aren't choices to be made.

The path the present government is set on is the wrong one - and it is not the only one.