UK economy.

[beorhthelm]

These figures just show how shockingly unbalanced the economy is, 80% reliant on the service sector is very disturbing. Isn't anyone concerned about this?

no. what should the "balance" be? 70% service sector maybe?

 

[Herr Tubthumper]

No not really. The UK cannot possibly compete with the low cost production areas like China or India or Vietnam without protectionism. We have to be well educated in softer skills and creativity. That is why education is so important. Ironically it may be economies like Germany which is still dependent on manufacturing that may be more vulnerable over the next 20 years

There are plenty of non Chinese and Indian manufacturing bases doing exceedingly well. The Chinese cannot make everything. They need to buy plenty of manufactured goods themselves, they need to buy in machinery, they need buy in medicines etc etc. And the cost of exporting makes some items cheaper to manufacture closer to home; Italy for example makes a lot of parts for UK assembled cars.

 

[sahel]

There are plenty of non Chinese and Indian manufacturing bases doing exceedingly well. The Chinese cannot make everything. They need to buy plenty of manufactured goods themselves, they need to buy in machinery, they need buy in medicines etc etc. And the cost of exporting makes some items cheaper to manufacture closer to home; Italy for example makes a lot of parts for UK assembled cars.

I'm not saying there will be NO manufacturing - just that we cant rely on it as a larger part of the economy. As China develops manufacturing will move away from there as well. There are plenty of low cost areas left, maybe in 50 years we will be one! That would not be good news!

 

[El Presidente]

Put interest rates up and see what happens ? It is an artificial recovery caused by cheap loans, expensive house prices and not sustainable in the long run

Someone has hacked ENREST's account

 

[Herr Tubthumper]

I'm not saying there will be NO manufacturing - just that we cant rely on it as a larger part of the economy. As China develops manufacturing will move away from there as well. There are plenty of low cost areas left, maybe in 50 years we will be one! That would not be good news!

It's not just about low cost though. This was the main thrust of my post.

 

[sahel]

It's not just about low cost though. This was the main thrust of my post.

I agree with you on that. However the kind of stuff that we can do better than the Chinas and Vietnams is unlikely, I think, to generate large scale jobs or output

 

[Goldstone1976]

Someone has hacked ENREST's account

Ha! They've had a reasonable amount of access recently. I've noticed quite a few serious posts about subjects other than boxing and gambling over the last month.

 

[Hatterlovesbrighton]

These figures just show how shockingly unbalanced the economy is, 80% reliant on the service sector is very disturbing. Isn't anyone concerned about this?

You always make this point, but you have no clue what the service sector comprises.

 

[Justice]

You always make this point, but you have no clue what the service sector comprises.

I would of thought almost everyone knows what the service sector is comprised of.

 

[Wally Goulds right toe]

Put interest rates up and see what happens ? It is an artificial recovery caused by cheap loans, expensive house prices and not sustainable in the long run

About sums it up.

 

[Uncle Spielberg]

Agree with this. House prices IMO have always been obscene.

People always bring this one out but they are only obscene for parts of the south east and London. There are very cheap houses and flats to buy in large swathes of the uk. One of my clients is buying a 3 bed house in Yarmouth for £ 82k.

 

[somerset]

No not really. The UK cannot possibly compete with the low cost production areas like China or India or Vietnam without protectionism. We have to be well educated in softer skills and creativity. That is why education is so important. Ironically it may be economies like Germany which is still dependent on manufacturing that may be more vulnerable over the next 20 years

Bingo.......give that man a cigar......

 

[withdeanwombat]

Whose to say that alternative policies would not have ended this current recession a whole lot earlier ?

 

[withdeanwombat]

People always bring this one out but they are only obscene for parts of the south east and London. There are very cheap houses and flats to buy in large swathes of the uk. One of my clients is buying a 3 bed house in Yarmouth for £ 82k.

That's a long hard commute to the Amex, though you are ,of course, correct in your assessment. My 5 Bed detached mansion in the glorious west country is valued at £320k but a converted two bed terraced ex-council stock house in Coldean ? Quarter of a million.

Stupid, eh?

 

[rogersix]

Just shows the lefties how clueless they are.

However there are still serious economic issues that need addressing such as an interest rate rise which will happen will cause major concerns, wage deflation is halting spending and house prices remain obscene.

your grasp of economics isnt quite what it might be poppet. house prices are "obscene" only for the majority. its one of them there supply and demand thingumies. the market is pushed up for all by the obscenely wealthy

 

[rogersix]

No not really. The UK cannot possibly compete with the low cost production areas like China or India or Vietnam without protectionism. We have to be well educated in softer skills and creativity. That is why education is so important. Ironically it may be economies like Germany which is still dependent on manufacturing that may be more vulnerable over the next 20 years

are you american? serious question. your homework for the summer is to look up the meaning of irony. economies that make things that people want may become vulnerable in a generation's time, hmmm, lets av a little fink shall we?

 

[Stoo82]

What stats are giving you that information? I'd think the regular worker is doing better than had Labour got in.

I work for minimum wage. It has raised time and time again, but my (and everyone else's) tax-free allowance has risen, plus, my tax credit have increase. Do I earn enough for what I'm worth? No.

Mustafa is talking bollox when he says the regular worker is worse off. Wages (for the lowest payed) have risen, job security is as stable as ever (as long as you're prepared to graft and are lucky enough to be in a well run company).

 

[glasfryn]

all this good news
there must be an election coming

 

[sahel]

are you american? serious question. your homework for the summer is to look up the meaning of irony. economies that make things that people want may become vulnerable in a generation's time, hmmm, lets av a little fink shall we?

Be careful when you sneer otherwise you look rather foolish

Definition of irony - incongruity between what actually happens and what might be expected to happen. In the case of Germany we might expect given what most people think that the German economy might be very successful, compared to the UK, in the future. It would therefore be ironic if the UK actually performs better. wouldn't it

Get it?

 

[rogersix]

Be careful when you sneer otherwise you look rather foolish

Definition of irony - incongruity between what actually happens and what might be expected to happen. In the case of Germany we might expect given what most people think that the German economy might be very successful, compared to the UK, in the future. It would therefore be ironic if the UK actually performs better. wouldn't it

Get it?

apologies and thank you, i stand corrected.

on the theme of looking foolish may i draw your attention to your phrase, "what actually happens".

aye thank you(all sarcastic like)