With the major political parties fighting over who is in the best position to make the swingeing cuts necessary to help fix our ailing economy, not enough attention is being paid to the question of how we become profitable again.
By Jonathan Moore
There's no getting away from the fact that Britain is in something of an economic bind. With a deficit of seven per cent of GDP and a debt of more than 50% of GDP - both rising - we are looking more and more like a credit risk to the international money markets.
While the short-term solution is to drastically cut our public spending, there remains a much larger problem at the heart of the matter: as a nation we just don't produce enough.
This rather more systemic problem in our economy was highlighted in the trading gap figures released this week which show that Britain now imports almost £8 billion worth of goods more than it exports. Even taking into account the services market, which as one of the world's leading financial and insuranceRead More »from Innovation is the cure for our economic woes