UK seeing "Right Kind of Growth"

wotsthat

The lack of balance is the last bastion of the recovery deniers.

Loughton_Monkey

CLAPTON wrote: »

what exactly is wrong with a strong service sector?

what exactly is a 'balanced' economy?

One in which boomers get richer by exactly the same amount as the young borrow to buy what they cannot afford.

CLAPTON

Thrugelmir wrote: »

Low value output. Low skilled work force. Loss of skill base in many industries as they die out.

Mixture of industry and commerce sectors. Bringing manufacturing industry back from China and the Far East for example.

many of the best paid jobs and many of our most successful companies are in the service sector

they provide a large component of our exports and without them we would be a third world country

be careful for what you wish for.

we are, in any event, the worlds 6th largest manufacturing country (given our population I guess that could be described as 'unbalanced')

Masomnia

I don't really see why we would want to bring manufacturing (or much of it) back from India and China. It's low skilled, low value stuff. The money is in designing and marketing the stuff; we should be focusing on that.

I think we need to expand manufacturing, but we need to produce niche, high end, high skilled stuff. We can do that and we're good at it.

Thrugelmir

CLAPTON wrote: »

many of the best paid jobs and many of our most successful companies are in the service sector

they provide a large component of our exports and without them we would be a third world country

be careful for what you wish for.

we are, in any event, the worlds 6th largest manufacturing country (given our population I guess that could be described as 'unbalanced')

I wish the UK to prosper and offer people a real opportunity to learn real skills. Not sit in front of computer screens following a script. These jobs are easily transferable and in a labour global market can be located anywhere. Real wealth is generated from added value. Added value is the result of investment and training.

What's the % of GDP for manufacturing once oil and gas output is removed?

CLAPTON

Thrugelmir wrote: »

I wish the UK to prosper and offer people a real opportunity to learn real skills. Not sit in front of computer screens following a script. These jobs are easily transferable and in a labour global market can be located anywhere. Real wealth is generated from added value. Added value is the result of investment and training.

What's the % of GDP for manufacturing once oil and gas output is removed?

Are you suggesting that computing, consulting, Uni education, medical, weather forecasting services aren't real skills?

I'm not sure why producing a high value computer game is less worthy than producing a killing machine that pollutes the atmosphere, kills people on the roads, produces global warming gases.

I wasn't aware that gas and oil production is counted as manufacturing but I'ld gladly accept a lot more of our energy needs to be home grown.

grizzly1911

CLAPTON wrote: »

Are you suggesting that computing, consulting, Uni education, medical, weather forecasting services aren't real skills?

I'm not sure why producing a high value computer game is less worthy than producing a killing machine that pollutes the atmosphere, kills people on the roads, produces global warming gases.

I wasn't aware that gas and oil production is counted as manufacturing but I'ld gladly accept a lot more of our energy needs to be home grown.

Do you invent and engineer things reading from scripts in a Swansea call centre?

Thrugelmir

CLAPTON wrote: »

Are you suggesting that computing, consulting, Uni education, medical, weather forecasting services aren't real skills?

Obviously we are on different wavelengths. You appear focused on the high end services. To which banking, law, insurance, asset management could be added. Unfortunately not everyone is born for an academic based career.

A broader base of skills is a way of tackling the trade deficit in the longer term.

CLAPTON

Thrugelmir wrote: »

Obviously we are on different wavelengths. You appear focused on the high end services. To which banking, law, insurance, asset management could be added. Unfortunately not everyone is born for an academic based career.

A broader base of skills is a way of tackling the trade deficit in the longer term.

on a world wide scale, most growth is in the services sector so why do be denigrate their contribution?

what specific areas do you want to expand?

grizzly1911

Masomnia wrote: »

I don't really see why we would want to bring manufacturing (or much of it) back from India and China. It's low skilled, low value stuff. The money is in designing and marketing the stuff; we should be focusing on that.

I think we need to expand manufacturing, but we need to produce niche, high end, high skilled stuff. We can do that and we're good at it.

I agree we are pretty good at it. Unfortunately only a relatively small number are actually needed in those areas. Many more are unlikely to ever meet the grade necessary to work in that limited environment. those that do make the grade then resent being taxed to support those that have been frozen out.