Another frequent nominee is accountant and deal-maker Nigel Rudd. Over the last 10 years, Britain has sold more than twice as many companies to foreigners as we have bought abroad – and the salesman-in-chief is Rudd.
Who is this “we” paleface? The individual decisions of the individual owners of these things?
But apart from that at the national level this is bloody obvious. And it’s got fuck all to do with Nigel sodding Rudd. Brtiain runs a trade deficit and also a current account deficit (the difference being trade in goods and then the net of trade in goods and services, roughly speaking). We’ve run a trade deficit for 30 odd years now. we Brits like to buy the things that foreigners make. The inevitable flip side of this very same thing is that we run a capital account surplus. Because the balance of trade does balance. So, obviously, we must be selling off more of the capital stock to foreigners than we are buying of foreign capital stock.
It’s sod all to do with the morality or decisions of the capitains of industry.
Oh Dear God it gets worse.
Britain is in the midst of a full-blown crisis of collapsed productivity, lack of investment and chronic inability to compete internationally.
so, err, how do we get more investment? We let foreigners send their lovely caqpital into British industry. By, you know, allowing them to buy British companies?