Simon Allford said: “2012 will doubtless be another magnificent year. The Olympics will confirm that London remains for now the centre of the world: how many other cities could host the Olympics as a fringe event?

“The recovery and therefore the construction industry will be slow, but faster than it might have been. With Europe cast adrift on a Euro express to meltdown, the economy will be bolstered by the confidence the rest of the world will take in the UK and the sterling’s independence. Importantly this independence will continue to be based on looking out rather than in; and engaging in the global flow of people, money, business ideas and even manufacturing. 

“The austerity budget will be key - yes it will be very tough but it is now all about confidence. So, accepting that London is an economy apart, it is key the rest of the country stabilises, gains confidence and looks away from ‘that London’.

“And what does this suggest for architecture in the UK? As significant challenges require significant design responses and intelligence, the opportunity is there for the smarter thinkers to flourish. By holding their nerve, keeping the banks at bay and charging proper fees related to the value of the ideas they generate and the importance of the leadership they offer. The real debate is not about style but about thinking: thinking on price and value.

“Is this prediction of a magnificent 2012 a fantasy? Not at all, after all I have not mentioned England winning Euro 2012! In straightened times like these survival is itself a significant and magnificent achievement, especially if you generate some architectural delight along the way. And the only way you have any chance of that, is if you ignore the doomsayers, look confidently as well as critically at the numerous challenges you face and think your way through with design intelligence at a strategic, technical and aesthetic level: that is after all what we architects do best.”