Margaret Thatcher and the new conservatism (from 1975) - Page 10 - U2 Feedback

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Old 04-11-2013, 01:31 AM   #136
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This is a really important point. What are the main drivers of the British economy? The banking/financial sector? We've seen what happens to countries that hang their hats on it. Moreover essentially all of Britain's foreign direct investment is mobile - meaning that there is very little reason to invest in Britain when you can very easily (and much more profitably) take your business to places like China, India, Mexico, etc. As opposed to immobile FDI in the commmodities and resources sector, meaning if you want to buy oil, for example, you are stuck with the relatively few nations that can sell it to you.
anitram, i'm not good on the technical details re. investment, but the British economy has definitely been relying on services and the City, banking/financial sector... hence all the bank rescue packages in recent years, with tax payers forced to fund the banks' f***-ups while the bankers continue to pay themselves huge bonuses (although the tide does seem to be turning at last)... also, Britain rejected the recent financial transaction tax proposed by France which could potentially raise millions in revenue from trading - Britain relies so heavily on its financial services and wanted to protect its own interests...

the energy situation is a real concern, Britain relies on France for much of its electricity these days, and Russia for gas - there was even a scare a few weeks ago with news reports that British gas reserves were dwindling due to the extremely long and cold winter, strangely haven't heard any more reports on this though... there is North Sea oil, but even that is contentious as Scotland would lay claim to those resources if it became independent...
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Old 04-11-2013, 04:08 AM   #137
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Thanks for posting that Russell Brand article - best one I've read yet on the subject matter.
it looks like it's been very well received - it's had over 100,000 shares on facebook and over 2000 comments below the article - that's quite a lot of buzz for a Guardian article...
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