A BUSINESSMAN frustrated with how the Goverment is handling the economy is spending £10,000 to have an open letter to the Prime Minister published in a national newspaper.

The advert in today’s Financial Times features a ten point plan that businessman Gordon Styles predicts will propel Britain towards economic growth.

The 47-year-old engineer, who grew up in Middlesbrough, moved to China after becoming disillusioned with the Government’s stance on inward investment.

His first major business success came in the 1990s when he built and eventually sold rapid prototyping business Styles RPD. However, the Japanese buyers of the business eventually shut the factory, on Teesside.

Mr Styles went on to found Springer Rapid, in Rotherham, which eventually lost all its orders to foreign companies, and he was forced to close the business.

He said: “The fact that the economy is now in a double dip recession is a damning indictment on successive governments and their inability to take the measures needed – or even listen to those wishing to show them the way.”

He owns 100 per cent of his firm, Star Prototype, employing 100 staff.

It has a factory in Zhongshan, in the Guangdong province of China, and makes a profit of £5m a year.

Mr Styles believes the Chinese government’s control of its broad money supply and a strong development plan is the reason behind 33 years of unbroken ten per cent annual growth.

He said: “While the banks continue to be allowed to invent money out of thin air with almost no regulation, the UK economy will continue to exist in a permanent cycle of boom and bust. I have shared this opinion relentlessly, but without success.

“Paying to have my ten point plan published was the only way I felt I could effectively get across the message that now is not the time for tinkering with the system and austerity.

“Now is the time for radical change and huge investment in infrastructure and skills, but this simply cannot be achieved while we, and our representatives in Whitehall, have no control over our own money supply.”

Gordon Styles' 10 point plan to fix the economy

1: THE building of any modern country is a huge engineering project, therefore our leaders, including the Prime Minister and the entire cabinet, should be skilled technologists. Create a 50-year national plan that inspires the people.

2: EDUCATE the nation to appreciate that industry, manufacturing, construction and running a trade surplus are the main creators of national wealth.

3: BAN fractional reserve banking (the process by which banks invent money out of thin air: the main cause of boom-and-bust and the 2008 crash). Complete the nationalisation of the entire UK banking system. Close the Bank of England.

4: THE Treasury will create and control all UK money. The Chancellor will then control the size of the economy by regulating the precise amount of money in the system. Similar to banknotes, all digital units of currency to be uniquely numbered to ensure that fraudsters can no longer invent new money at will.

5: NEW Treasury money is metered into the economy through state owned industrial banks. Build extensive national infrastructure using newly created money.

Significant tax relief for industry on investments in science and technology. Pay down Government debt over time with newly created money.

6: THE currency exchange rate is tightly regulated in a new Bretton Woods-style system (exporting is damaged when speculators overvalue the currency).

* In the Bretton Woods system, countries adopt a monetary policy that maintains the exchange rate by tying its currency to the US dollar. The International Monetary Fund can bridge temporary imbalances of payments.

7: TO encourage managers and workers alike to work hard and stay in the UK, cut the top rate of tax to 25 per cent and raise the threshold for personal tax to £25,000.

8: EMULATE the German model of higher technical education and build new, and further develop, our specialist technical universities. Similar to the Fraunhofer (science research) organisation, the UK needs a new kind of institution that bridges the gap between academia and industry forming the backbone of our research and development efforts.

9: HUGE investment in technical trade apprentice schools aiming to have a million people of all ages apprenticed at a time.

10: OPEN hundreds of overseas promotion offices in foreign markets to intensively promote UK products and act as a base for new exporters. Drive hard for a trade surplus and give huge tax incentives to exporters.