What you are missing is that Brits have only two choices. 1. Bring industry in and let skilled immigrants come in so as to create a modern high skilled economy

What you are missing is that Brits have only two choices. 1. Bring industry in and let skilled immigrants come in so as to create a modern high skilled economy. 2. Emigrate out en mass to other countries that have successfully created modern high skilled economies. Most countries would die to have number 1 in their own shores.