Emeritus Prof Christopher May1d ago

As I have pointed out before, the problem is not so much that the UK doesn't have an industrial strategy, its that the one it does have (whatever claims made otherwise) is always focussed on the preferences/needs of financial services.

and if you needed some further evidence; while most of the economy is essentially flatlining or worse, somehow financial services is experiencing a major revival from its transient problems.

as usual Govt.s listen to bankers!

#politics
https://www.theguardian.com/business/2026/apr/07/uk-city-firms-cbi-financial-sector-rachel-reeves

UK City firms report fastest turnaround in fortunes in 30 years

CBI figures showing surprise jump in financial sector’s growth will be welcome news for Rachel Reeves

The Guardian
Show threadJW1d ago

@ChrisMayLA6
My view, which may be simplistic, is that the primary purpose of the finance sector is a facilitator and enabler of production and trade of goods and services. As such, like lawyers and accountants, they are an essential and necessary overhead if the economy.

Taking this view, an important question is at what point do they move from being an efficient and effective service, to being a fat inefficient overhead that is having a negative effect on the economy.

Show threadEmeritus Prof Christopher May

@jwi

Not at all simplistic - a nice concise statement of the problems.... tail wagging the dog is how I'd sum it up

Apr 7 at 9:02amWeb