Out of the top ten
I discovered an interesting fact this week and I have written an article for The New European about it.
The UK is now the 11th largest manufacturing nation in the world, according to UNCTAD, down from 8th last year.
We have been overtaken by France, Mexico and Russia. This is, I think, the first time that the UK has been out of the top ten, ever. Or at least since the start of the industrial revolution.
Last year the papers were full of the fact that we had overtaken the French to 8th place, this time nothing. The Business Department has the figures but is apparently sitting on them, last year they released them with a fanfare.
I wonder why?
Manufacturing is suffering from Brexit, from a lack of an industrial strategy, from skills shortages and bad infrastructure, a failed apprenticeship system, high energy prices, new red tape and a dozen other problems.
Nearly all of which are the government’s fault.
As a result manufacturing is in relative decline and is not expected to grow anything like as quickly as the rest of the economy for the next couple of years.
Meanwhile 11th may soon be a happy memory, Indonesia and Brazil are sniffing at our heels.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media
I really hope that Labour’s manifesto will contain a decent industrial policy (rejoining the Single Market would also be nice, but it’s scary to hope for too much … )