On a micro-economic level we clearly possess the means to pay for a lot of imported materials, including increasing amounts of manufactured goods. Who would have thought a generation ago that we would be importing cars in large numbers from countries such as Malaysia? The central problem of the British economy is not that we export too little but that we import too much. This makes it more urgent that we tackle our skills shortages; it also means that government financial help should be targeted less at exporters and more at companies who can recapture our domestic market in manufactured goods.
Dr Roger A Fisken
Bedale, North YorksReuse content