Thatcherism

[seafoid]

The only way to understand Brexit is to understand what happened over the last 30 years


http://www4.shu.ac.uk/research/cresr/sites/shu.ac.uk/files/cresr30th-jobs-welfare-austerity.pdf
https://en.wikipedia.org/wiki/Chesterfield

In the last 30 years, the economy in and around Chesterfield has experienced major change, moving the employment base away from the primary and secondary sectors, and towards the tertiary area. The area sits on a large coalfield and the area played host to many coal mines,[21] including: Clay Cross, Arkwright Town, Bolsover, Grassmoor, North Wingfield and Holmewood.
From 1981 to 2002, 15,000 jobs in the coal industry disappeared[22] and not a single colliery remains open, although open cast mining took place at Arkwright Town for a few years from November 1993.[23] Many of the sites were restored by contractor Killingleys for Derbyshire County Council. Very little evidence of the mining industry remains today; a cyclist and walkers route, the "Five Pits Trail" now links some of the former collieries and most of the sites are now indistinguishable from the surrounding countryside.[24]
Within the town itself, large factories and major employers have disappeared or relocated. Markham & Co. manufactured tunnel boring machines such as the one used for the Channel Tunnel between England and France.The company was bought out by Norway's Kvaerner and subsequently merged with Sheffield-based Davy. Their factory on Hollis Lane is now a housing estate and the former offices were converted into flats and serviced office suites.[25] Dema Glass's factory near Lockoford Lane shut as is now host to a Tesco Extra and the Proact Stadium, Chesterfield F.C.'s new home ground.[26] GKN closed its factory and the site is now being turned into a business park.[27]
Others companies have downsized significantly. Robinson's, who manufacture paper-based packaging in the town,[28] divested their healthcare interests which led to significant downsizing in both the workforce and facilities in Chesterfield. Trebor, once based on Brimington Road near Chesterfield railway station, merged with Bassetts sweets of Sheffield, were taken over by Cadbury and have relocated a modern unit at Holmewood Business park. The former factory has been demolished and the site is awaiting further development. Chesterfield Cylinders relocated to a much smaller site in Sheffield. Chesterfield Cylinder's Derby Road site, is now Alma Leisure Park, which includes a Nuffield Health Club, Cineworld, Frankie & Benny's, McDonald's, a Harvester Pub and a Nando's. Their former factory on Derby Road is now Spire Walk Business Park, a B&Q Mini-warehouse, a Toys-R-Us and Chesterfield's new fire station.  The town's biggest employer is now the "Royal Mail/Post Office" administration department[citation needed] located in a newly constructed building located on the edge of the town centre

[Milltown Row2]

You definitely have a hard on for brexit the north and Britain !! I think you are a wee west Brit in disguise or wish to be one, otherwise why so much interest? 

[armaghniac]

I think you are a wee west Brit in disguise or wish to be one, otherwise why so much interest? 

aithníonn ciaróg ciaróg eile

[Milltown Row2]

I think you are a wee west Brit in disguise or wish to be one, otherwise why so much interest? 

aithníonn ciaróg ciaróg eile

I've little interest in Britain, I've never started 30 threads about it or the north (bar the hurling thread) come to think of it, but good old you for watching his back

[seafoid]

http://www4.shu.ac.uk/research/cresr/sites/shu.ac.uk/files/cresr30th-jobs-welfare-austerity.pdf

The UK economy in 2016 seems remarkably prosperous. GDP exceeds pre-financial crisis levels, inflation is low, and overall employment has reached record highs. But the prosperity is deeply precarious, and not simply because of the uncertainties created by impending departure from the EU. As the government itself could not deny, the contemporary economy displays a number of alarming features:
•An extraordinary level of household debt – among the very highest in the world
•A trade deficit with the rest of the world, in goods and services, at record peacetime levels
•A public sector budget deficit that remains large despite the most draconian austerity measures in modern times
These features of the contemporary UK economy are deeply interrelated. In essence, Britain is living beyond its means. Consumption and living standards are being sustained not by incomes earned by trading with each other and the rest of the world but by ever-rising debt and the sale of UK assets – companies, property, government bonds – to foreign investors.
That debt has become the driver of UK economic growth is first and foremost the result of the erosion of the UK's industrial base. The UK no longer sells enough to the rest of the world to pay for what it imports.  And the UK manufacturing sector has become so hollowed-out that even a substantial devaluation of sterling, such as occurred in the wake of the 2008 financial crisis and more recently in the wake of the Brexit vote, no longer provides sufficient stimulus to bring foreign trade back into balance.
Of course, the UK does not rely just on manufacturing to pay for imports. The economy has proved exceptionally good at selling services to the rest of the world – finance, legal, design, media, education and the rest – but this success has never been enough to offset the industrial failures. The fact remains that around half the value of all UK exports still comes from manufacturing and that manufacturing, with just 10 per cent of the UK workforce, sells as much to the rest of the world as the other 90 per cent put together

[seafoid]

Payrises haven't been happening in the UK for a decade .............One of the reasons why the deficit is so high.
And why Brexit happened.


1 December 2014
http://www.ft.com/intl/cms/s/0/88227ee6-7729-11e4-8273-00144feabdc0.html
"But, from here, it would be rare for the private sector to shift substantially into financial deficit by increasing its expenditure further relative to income.  Growth in private activity will therefore need to come from a rise in income, especially wages, not from falling savings ratios. That will be a more difficult process, especially if fiscal policy is being tightened at the same time.
The second phase of the fiscal correction may therefore be even harder to attain than the first. A simultaneous contraction in both fiscal and monetary policy looks problematic: something will surely have to give."