In the news

You are reading a single comment by @itsbruce and its replies. Click here to read the full conversation.

•

NickCJ in reply to @NotThamesWater

I think Peston’s take on this was pretty good. In 15 years the UK hasn’t managed to nurture any industry to beat the City’s pre-07 international competitive advantage. It’s just a shame that having financial services as your key engine of growth exposes you to blowups every 10-15 years and no-one can figure out how to avoid it.

https://twitter.com/peston/status/1601160689368076289?s=46&t=JXAyXY42iXru7Ezozm-oQQ

•

itsbruce in reply to @NickCJ

Possibly because finance has been elevated over things that directly generate wealth (which finance cannot do)? Finance used to be seen as an enabler of wealth creation, not the be-all and end-all. Some people speculate that the City, as it has been for the last several decades, is a net negative for the British economy.

•

NickCJ in reply to @itsbruce

Finance used to be seen as an enabler of wealth creation, not the be-all and end-all

It’s one of the few things we export that we have a true competitive advantage in. If you want to pivot an economy away from that you need a pretty good idea of what will replace it… nobody does.

About

Avatar for itsbruce @itsbruce started