I was at an interesting and entertaining talk yesterday by Justin Urquhart-Stuart of Seven Investment Management. You may have seen him on TV or heard him on the radio.
Anyone would think from the media that the UK does not do manufacturing any more. Justin pointed out that we are the 8th largest manufacturer in the world, and the 10th biggest exporter.
My own comment is that we are also a major car manufacturer, but the factories are owned by Nissan, Toyota, Honda, BMW and so on.
Of course, what will not come back is the level of employment that manufacturing used to provide, simply because of manufacturing technology. That said, I am quite happy that the turbine blades on a jet aircraft are not filed down individually by some workman at a bench.