Now that the UK has voted to leave the EU, and the value of the pound has fallen, this is our chance to increase competitiveness, boost UK exports, increase our productivity and stimulate economic growth.
By reversing the decline of British industry and putting the UK back into business, we can rebalance the UK economy away from financial services and towards manufacturing.
By rebalancing the economy, we can focus on:
The UK’s desperately low levels of investment as a percentage of GDP
How to reverse the deindustrialisation which has left us so vulnerable to massive balance of payments deficits
Getting a grip on the UK’s ever-rising debt both nationally and through our government
Getting UK growth to depend much more on exporting and investment rather than rising asset prices fuelling consumption.
To tackle this agenda, we need to investigate to what extent our problems are the result of mistaken demand-side policies or whether the main problems lie on the supply side.
Are our difficulties due to inappropriate macroeconomic, fiscal and exchange rate policies? Or are they the result of failures in education, training, inadequate infrastructure? If in fact both are at fault, what needs to be done to produce a balanced solution to a very complex set of problems?
The Pound Campaign has been established to highlight the historically high level of the British pound and the damaging effect it has had on manufacturing and the wider UK economy.