No doubt we haven’t devalued enough.  But the early signs continue to suggest that we can’t get a whole load of growth from the export channel: today’s trade figures show the deficit widening by £1.3bn.

A tiny piece of evidence in favour of the thesis of Slash and Grow: that, absent home consumption demand, growth will be weak.  It’s a choice.


2 thoughts on “The trade figures

  1. To achieve exports all that is required is to produce desirable stuff at a price the world wnats it at. We could have that any time we produced a free market economy & got rid of all the government parasitism that destroys 75% of the economy. Regretably no “official” party, even the Tories & certainly never the “Liberals”, will commit to economic freedom,

  2. Ah! It’s so easy! If only our corrupt leaders would realise this . . .

    Explain this: since trade balances sum to zero, why is it necessarily the case that a ‘free market’ economy will necessarily achieve more exports than imports? Sounds like state control, mercantilism, exchange rate manipulation, is the only way to get there.

    Only 75% of our economy? Gosh, imagine how big it would be without the government . . . we would have twice the GDP per head of Norway. Nivanna awaits! thanks Neil, (or did you get it from here

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