Grist to the Mill

19 April, 2006


There are a few things about the job market and economy in this country that I just don't understand. Take, for example, the recent closure of the Peugot plant in Coventry. There is now, surely, very little manufacturing left - first shipyards/shipbuilding collapsed in the north-west, followed by coal, steel, now car maunfacturing. Yet there is such talk of economic growth and a buoyant economy, which I don't see any evidence of at all. Unless you include Poles, Lithuanians, Latvians, etc, working in Costa Coffee and other shops. Can the UK manage its collective £trillion debt on the back of the retail sector alone? Not everyone works in a call centre or Tescos, and many who do are from Eastern Europe. Can consumer spending really sustain the economy for much longer, or will it collapse in about 18 months time? Most probably, house prices will save the day (again).

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