Some commentators, probably with good cause have been talking down the UK currency and the long term viability of its economy.
We all of us know that the UK economy is now in recession, (2 successive quarters of declining GDP or something like that) predictions (guesses?) are that this will remain the case for the majority of 2009 - perhaps a recovery starting end of this year start of next.
Now when the upturn comes how will unemployment be brought down? Previous recessions have seen the UK manufacturing industry ‘re-structured’ this one is likely to see financial services and retail badly damaged.
One hope is that UK PLC will be able to leverage its much trumpeted ‘creative industries’ already these industries employ large numbers and we actually manage to export the products they are responsible for.
Let’s hope that the UK’s Government recognises the importance of Media, Music, Sport and Tourism and prepares these areas for the inevitable upturn.
Pictured Andy Burnham UK Culture Secretary