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The UK has a hopelessly unbalanced economy, with "financial services" and arms sales providing the bulk of GDP. Without those the rest of the UK is an economic
by TheOtherHobbes 4y ago
The UK has a hopelessly unbalanced economy, with "financial services" and arms sales providing the bulk of GDP.
Without those the rest of the UK is an economic wasteland, relatively speaking. Outside of London and the Home Counties most of the population is ridiculously poor.
The UK is actually good at law, finance, the arts, and STEM. There's also a significant "boutique" export sector of high-value items of various kinds. There could have been a significant mix of intellectual/service activity and industrialised production, but most of the latter was sold off and shut down in the 80s - often to foreign corporations.
Brexit has severely damaged all of the above even further.
- coastermug 4y agoThis is extremely well put. Finance and defence really are two of the only well performing industries left. - but this is despite there being excellent talent and people within the UK. I despair at government talk about skills shortages. There’s no such thing. Our industries have been decimated, and all we really have left is financial services in London. Which is great if you decided to do accounting at university and/or went to a good private school.