SUBSCRIBE Newham 8 victory NEW FIGURES published this week by the Financial Times have revealed the full effects of the decline of British manufacturing industry under the Thatcher government. economy suffered its first balance defecit on manufactured goods since the industrial revolution. But it had been popularly presented that this trade deficit was concentrated in specific areas such as cars and video-recorders.
The published by the Financial Times on wallary however show the full range of the industrial col lapse.
British Trace in manufactured goods movSTO IT surplus of £2,600 million in 1981, to a surplus only £233 million in 1982 and finally massive deficit of £4,900 million in the first 11 months of 1983.
As the Financial Times put it, "The decline in exports raises a basic ques tion about the future of the British economy. How do we pay our way when the oil trade surplus disappears in the late 1980s.
The al cas which catastrophic declines competivity have taken place over the last across virtually every category of manufactured goods.
They passenger cars, commercial vehicles, chemicals, construction equipment, aero engines, and scientific instruments.
The balance of trade these sectors worsened by £2,600 million in the first 11 months of 1983 alone.
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rruted by past eno onsetut London 5%. It was already known that in 1983 the British of payments Nigel Lawson Margaret Thatcher have claimed since the General that economic recovery is taking. place.
These new studies by BriProducts in which the trade balance has deteriorated significantly in the past year include:
PRODUCT Passenger cars Commercial vehicles and parts Chemicals Construction equipment Textiles Aero engines and gas turbines Piston engines Scientific apparatus and photographic equipment Electronic components Agricultural equipment Pumps and compressors Total * Decline in trade balance in first 11 months of 1983 comnarea win wnole orryor Overseas Department of Trade.
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tain's most authoritative business newspaper however show the exact op posite. In the last year the decline British manufacturing industry. been speeding up dramatically. figures Hese deserve to be given the wides1 publicity movement counter the rhetoric Thatcher. 'Hard truths on Britain's industrial aecune appeared in the Financial Times 28 January. £m* 2582 Statistics of the UK, Special free book offer!
Take out a years inland subscription and we will send you free one of these books: Thatcher and Friends by John Ross Hard Times by Bob Sutcliffe or Over our Dead Bodies — Women Against the Bomb Introductory offer readers: Eight issues for just t2.
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Sectors in decline