Nick Clegg is under fire for taking a luxury skiing holiday as fresh benefit reforms kick in leaving many struggling households facing shrinking incom...

As predicted with many Asian and American politicians staying home, European leaders like punch drunk boxers who have gone too many rounds occupied centre stage, but many others seemed little interested in their troubles: the consensus at the start of the meeting, that the Euro will survive after all but Europe will be a low growth region for the foreseeable future, held.

As a former treasury minister, I understand how markets can be used to benefit people around the world. We recognised that public funding, and specifically aid, alone could not solve all of the challenges faced by developing world countries. There was a clear need to harness private sector capital and expertise.

This is our last best chance to stand up and be counted - and be accountable - before the UN's consultation on this new framework closes. But let's look at who is talking about the Post 2015 agenda at Davos: Jeff Sachs, Bill Gates, Ban Ki Moon. With the notable exception of Unilever's Paul Polman, where are the other business leaders?

The UK, as one of the richest countries in the world, has the power and resources to act both at home and abroad. We do not have to choose between the two. And, central to the IF Campaign, we must also tackle some of the systemic causes of hunger.

A picture of a chipper David Cameron enjoying dinner with Boris Johnson and the chancellor, despite being forewarned of the dire state of the economy,...

As a veteran, I have learned that Davos is a kitchen out of which, given time, dishes come that do make the main menu.

At a session on European competitiveness yesterday the starkness of Europe's future was clearly exposed. A chart was shown that showed US per capita income steadily pulling way ahead of Europe's which has now been overtaken by South Korea.

As the global elite don snow boots for Davos, those of us tramping through the slush at home will wonder 'what's Davos got to do with me?' I say two things: 1) the UK has always been a great trading nation and, 2) the UK is a modern day cultural superpower. We're up to our boot-tops in the global economy and our language, education system and creativity are in massive demand to drive global growth and prosperity. And we all have a stake in that. Because what our politicians and business leaders are discussing on our behalf is a near universal need to tighten our belts.

Davos has started. And the search is on again for what will be the defining new wisdom to emerge from this year's rash of seminars, lectures, parties and closed meetings in the Swiss mountain town.

We are living in dangerous times. As the past has shown us, human rights' atrocities often go hand-in-hand with poverty, neglect and inequity. We cannot ignore the past. And as we reflect on the errors of a different age, we must make sure that such messages are not repeated in 2012.

It has long been accepted that infrastructure development is a vital piece of the growth puzzle. David Cameron certainly subscribes to this mantra, having put infrastructure at the heart of his growth strategy when he outlined a huge £30bn investment over the next four years.

With bankers' bonus season in full swing, and thanks to relatively recent European rules, we at least get to see exactly the sort of pay deals being awarded to the top bankers in the City. RBS chief executive Stephen Hester's bonus, which he eventually turned down following public outrage, will be followed by a series of other bonus announcements in the coming weeks.

This year, the elites in Davos - debating the future of capitalism - faced a little more self-doubt than usual as to whether they have the best ideas to run the world, not least in the face of the intractable euro crisis. But the future of capitalism is just one big global challenge among many facing today's world including climate change, poverty, conflict, instability and oppression.