The Labour leader will use a keynote speech to argue that Britain needs a new economic model that rejects the “orthodoxies of the 1980s”, such as the dominance of the financial services sector over heavy industry.
Finance, wholesale finance as in The City, provides some 4% of GDP. Industry provides 12% or so.
I think he means bankers get to invest where they like, and so manufacturing has to do what they are told if they want the cash.
So he wants the Unions to be able to direct our pensions to support their members overpaid feather bedded jobs. Because the 70s were not bad enough. We have to do the Time Warp again
To be precise Milliband did say “heavy industry”.
Does the UK actually have any heavy industry at all these days ? Outside of the defence industry.
And did Milliband actually mean heavy industry ?
Milliped has an MsC in economics, so he OUGHT TO BE ABLE to defend the above proposition. But all we
Milliped has an MsC in economics, so he OUGHT TO BE ABLE to defend the above proposition. But all we’ll get is emotionally appealing soundbites.
Heavy industry. State tractor factories will be needed to manufacture tractors for state farms to give us sufficiency in self-grown food.
Has Ed Miliband ever had a real job in the real economy, or is he one of those strange creatures who has floated from student politics to grown up politics with no achievements of note in between?
It seems his plan is to get rid of all this free market stuff and have the economy run by people like himself and Ed Balls. What could possibly go wrong?
He had a year working as a researcher on the Channel 4 “A Week in Politics” show. So, certainly not the “real economy” and, as far as I can see, the only “achievement” was attracting the eye of Harriet Harman.
SE – thanks. That sort of background explains a lot.
Mr Moribund sticks up for moribund industries. Makes sense of a sort.
@ Steve 6. … has floated from student politics… a textbook case of arrested development.
“It’s not just cream that rises to the top …”