MJ Warner’s letter of 11 March raises some interesting points about Britain’s trading position in the world.
The British Government seems to have forgotten about our trade deficit. Britain’s current economic growth is all based upon a boom in imports.
Growth that is based on imported goods is not sustainable. Eventually someone is going to have to pay for all these foreign goods coming into Britain.
Our Current Account Deficit is $163 billion. As a percentage of GDP it is 4.5 per cent and this is the worst trading deficit in the world.
The only way out of this quagmire is to start making things again in this country. Britain must learn again the benefits of having a strong manufacturing base.
Steve Halden Beaufort Green Swindon
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