Emeritus Prof Christopher May on Nostr: Larry Elliot observes two key issues about the domination of #services in the UK ...
Larry Elliot observes two key issues about the domination of #services in the UK economy:
1. services firms are concentrated in #London & SE increasing the problem of regional #inequality;
2. Despite their success, they cannot counter the massive deterioration in the #balanceoftrade in commodities & manufactured goods, that is driving our worsening trade deficit;
to which I would add:
3. due to their character services do little for the UK's #productivity problem!
https://www.theguardian.com/business/2023/aug/13/trade-deficit-danger-being-sidelined-fight-inflation-investment
1. services firms are concentrated in #London & SE increasing the problem of regional #inequality;
2. Despite their success, they cannot counter the massive deterioration in the #balanceoftrade in commodities & manufactured goods, that is driving our worsening trade deficit;
to which I would add:
3. due to their character services do little for the UK's #productivity problem!
https://www.theguardian.com/business/2023/aug/13/trade-deficit-danger-being-sidelined-fight-inflation-investment