No, it isn’t a fact, just because a lot of people say it for their own, usually political ends.
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The chart derives from the Index of Production and it shows value of manufacturing output in the UK since just after WWII.
It’s an index and 100 is defined as the level of output in 2005 so as to compensate for inflation.
As you can see we produce some two and a half times what we did in the 40s, when absolutely everyone, to hear the stories told, was gainfully employed making whippet flanges.
Please read what I wrote and try and understand it
There has been a downturn in this current Gordon-Recession, but as with previous recessions it will come back again.
Moggy
I’m afraid you’re making a common mistake there in confusing ‘British manufacturing’ with ‘stuff made in Britain’.
‘UK manufacturing’ as defined by people such as the ONS – includes all output from British companies operating in the manufacturing sector.
This is classic government propaganda and spin – as most of these companies manufacture not one single thing in the UK.
Note that your IOP chart at no stage mentions the UK – (EDIT so as not to drag the thread further off topic. It clearly says ‘output in the UK’ just about 8 lines up – Moggy) it always refers to the ‘manufacturing sector’. Nothing else. Smoke and mirrors, my furry friend!
If you stop to think about it for a second – rationally – then if we truly were producing 2.5x what we did 60 years ago then there would be large factories all over the place.
There aren’t – what there ARE, however, are lots of large warehouses. Storing all that imported ‘British manufacturing’.
It’s ironic that you cite ‘political purposes’ – because you’ve fallen for the neoliberal propaganda/spin hook, line and sinker!!
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