FredBloggs wrote:To my simple mind, the British economy will never be sound until we actually start making and exporting things again.
Ok, I appreciate you are trying to be "simple" about things, but this suggests the UK no longer manufactures, or exports "things". The reality is the UK is still in the top 10 global manufacturers. The trend is perhaps more of a worry, but even so at about 11% of national output UK manufacturing isn't out of line with say the US on 12%, or France at 11% for instance (admittedly behind Germany 23%).
Looking at the other parts of the economy as to what we are good at suggests we should be ensuring the export of services (especially Financial Services) isn't hindered. Hard to find politicians willing to expose themselves to their electorate and promote the City, Banks, etc. yet they are the foundation stone on what our economy provides to the world, and incidentally the tax base that has allowed the infrastructure, the schools, the hospitals etc. to be built here over the last 20-30 years.
I have seen first hand management, guided by politicians, close down profitable businesses within companies working in the Financial Services sector, for various dubious short term motives. The corporation tax lost on this profitable activity, and the loss of income (and other) taxes from the personnel now no longer employed doing it, worries me more.
The UK is good at top-end manufacturing.