deindustrialisation, exchange rates, international competitiveness
The news in 2015 that Tata Steel was to shed 1,200 UK jobs, and SSI’s closure of Teesside’s last iron and steel plant, are symptoms of a long-term decline in UK manufacturing. Many assume British steel, and British manufacturing in general, is no longer globally competitive. If this is true, it is perhaps not a result of how we manage our manufacturing industry, but as a result of how we run—or neglect—our economy.
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