George Osborne’s blueprint is failing,with manufacturing in freefall and consumer demand only high due to cheap borrowingThe latest news for trade and manufacturing speaks volumes approximately the state of the UK economy: weak, unbalanced and highly dependent on continued low interest rates to hold it going.
This is not the way it was supposed to be. When George Osborne became chancellor six years ago he pledged a new growth model – one based on exports and humming factory output rather than debt-financed consumer spending.
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Source: theguardian.com