Happy New Year… Or is it?

As the world wakes up to New Year’s Day and for many the inevitable hangover from too much consumption, I have a slightly smug hangover-free smile on my face. Having damaged my knee late last year, I have spent most of the Christmas holiday following Doctor’s orders – plenty of bed rest and keeping my knee elevated. As a result I haven’t partaken of the drunken antics that most people in the UK seem to think is de rigeur for this time of the year (or all year for many!).

For various reasons I was asleep in bed by 10pm last night, rather than joining the majority of the population celebrating the New Year at midnight. So this morning, I woke fairly early and set about removing the Christmas Tree and any other signs of the festive season – and, as I packed away baubles, tinsel and lights, I tried to forecast what 2013 would have in store for all of us. It didn’t take long to work out that it was impossible to predict what the year would hold for Daytona or for me.

Whilst the House of Representatives are likely to vote to save the US from its fiscal cliff, albeit temporarily, the UK faces a very uncertain year ahead. We may even be second division EU members by this time next year, if the various UK-Sceptics in the EU get their way. Whilst discussing the state of the UK’s economy with wise friends, I have bored them silly with my own judgement that our slow burn plan to recovery is working, slowly but surely.

We are avoiding the major peaks and troughs that often follow recessions as governments try to spend their way out of trouble. But this approach means that the recovery will take longer than anyone expected – and the trouble is that people these days have no patience. Everyone wants things fixed and if the solution takes more than a few months, then people think its not working. Especially with today’s politics by media.

My solution is that we stay fully in Europe, we stick to our current fiscal plans, we force the banks to lend money (or we all embrace crowd funding a lot more) and we let things take as long as they need. In the meantime, this means that we may not have tons of disposable income and we should thus spend it wisely (cue gratuitous Daytona plug) and take advantage of Daytona’s January Sale.

With 20% off Exclusive Race Events at our outdoor circuits this January and 10% off private races at the indoor venue in Manchester, make sure you spend your budget wisely this year!

Jim Graham