Howard Wheeldon FRAeS – Wheeldon Strategic Advisory Ltd
Whilst accepting that in January 2002 HMRC implemented a data collection change that affected data on how information on imports from the EU to Great Britain is collated and in doing so, made the most recent import statistics not directly comparable with those of previous months, however you choose to look at them UK trade figures continue to make extremely depressing reading.
Each year it seems that we consume more, import more and export less. It is a situation that has been going on since the 1960’s and no one government is to blame – they all are. We had by the mid 1960’s become seriously uncompetitive with our fast recovering Continental Europe competitors who were modernising and investing in their businesses.
Japan and other Far East countries were investing too and determined to get a share of the export market cake that the UK had dominated for so long. China was starting to put together the beginnings...