Government preparing for lost decade, Robinson tells Airmic Lecture

UK could be heading for decade without growth – Nick Robinson

The government is privately considering how to handle a scenario where there is little or no economic growth for the next decade, the BBC Political editor Nick Robinson told the annual Airmic Lecture.

Despite the pressures that this would place on public finances, he said the recent past had demonstrated the underlying stability of the British political system, which he said should reassure risk managers. There was little sign of the public wanting to overturn the way the country is run. Even the riots of 2011 were acquisitive rather than political in their motivation.

And he saw little prospect of the coalition falling apart even though there were a number of issues, such as Europe, that could yet put it to the test. He predicted a dull, unadventurous budget – rightly, as it turned out. However, he said the budget was not going to be the most important financial event, coming behind the spending review and impending arrival of a new governor at the Bank of England.

watch the full lecture video here

The Airmic annual lecture took place in the elegant surroundings of Christie's, where former Airmic chair Nicky Harvey is group risk director.

Nick Robinson joined delegates at post-lecture reception surrounded by antique furniture and objets d'art.

The Warhol picture of Mao was expected to fetch at least £50,000 - and that is just for a print.