But manufacturing has always been more important than the politicians and civil servants allowed. Taking together corporation and payroll taxes, it contributes much more to the exchequer than the finance sector – enough to pay for the entire schools budget.
Well, yes, of course. For manufacturing is a larger part of the economy than finance and employs more of the workforce than finance. What the hell do you expect matey?
Germany still has its Mieles and its Mercs sat atop vast supply chains of producers; in the UK we have a series of tiny businesses knocking out garden railings or doing the odd bit of pipework.
Oh do fuck off boy: we have our Rolls Royces (one third of all jet engines manufactured globally) and GKNs to set aside their Mieles and Mercs.
Didn’t I also read a while ago that we include the chemicals industry in with manufacturing? Last I looked we were pretty good at that.
Most people have absolutely no idea about manufacturing except those products that they buy themselves (or aspire to buy). So capital goods, which make up a huge share of the total, are invisible to them.
As an engineer, I have many friends working in the manufacturing sector, producing things that most people have never heard of and probably never will.
Mr. Chakrabortty sounds like a badge snob.