Friday, November 21, 2008
Monday should be an interesting day!
On Monday, the chancellor will admit, by implication, that the government's industrial policy of the past decade has been something of a disaster. Actually to call it an industrial policy is a bit misleading - but what I mean is the Treasury's celebration over many years of the UK's growing economic dependence on the City of London and financial services. The City contributed around a third of our economic growth in the recent past and about 10% of total output.