Some people are arguing (usually from across the Commons benches) that Britain has become too heavily reliant on its financial services sector. As we headed, blissfully unaware, into this maelstrom, the City of London and associated banks and fund management corporations counted for just less than 20 per cent of Britain’s GDP. That’s probably too much. Manufacturing. That’s what we need. That’s what the unions reckon. We need to make stuff that other countries need. Our only marketable export currently is actors. So this clearly needs to be addressed. The argument that our country would be better placed to withstand the global financial slowdown if we manufactured and exported more goods is a strong one. But manufacturing is not a panacea. And it wouldn’t…
Tagged: car industry, City, Japan, manufacturing, recession, Unions