Despite claims to the contrary, manufacturing is not dead in the UK. Chris Parr is CEO of Tullis Russell, a 200-year-old paper-making firm on the outskirts of Glenrothes, Brown’s neighbouring constituency. Orders have dropped 15 per cent at the firm since last year, but conversely, the weak pound has made Parr’s products much cheaper in overseas markets. "We’re targeting that very aggressively," he says. "There are a number of opportunities which have been created on the back of this."
Export is definitely a driver to get Britain out of this downturn. Karen Ward, chief UK economist at HSBC, says: "We have consumed more than we have produced for a long time; so now what we need to do is to stay in our jobs, produce the same amount, but sell it abroad, instead of consuming it here – and that will pay off our overdraft, which is the current account deficit."
Read the whole article in The Guardian.
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