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Is Great Britain on the way to a new industrial revolution?

If there are lessons to be learned from the current financial shambles that the UK finds itself in, there are many.  And one of them has to be for the UK to become considerably less dependent on its financial services sector as source for jobs and profits, and to look again at the country's magnificent tradition and history as a manufacturing nation. Something that propelled the British Isles to the forefront of the developing world way back in the nineteenth and twentieth century, long before global booms and burst had been thought of.

The UK financial sector has lost so much of its credibility in the recent past, and there are serious doubts that it will gain its strength and standing for years if not decades to come.  And there are those who say that it is not a bad thing.

And they are coming in with some reasonable alternatives, by saying that as the financial downturn seems to be bottoming out, the economy should be rethought and rebuilt around the values and activities of our forefathers, who built the UKs global reputation for producing first class products and service.
Many of Britain's leading industrialists have been critical in the past of the Treasury's almost obsessive support of the money markets and those who operate and often manipulate them, without providing strong enough support for the manufacturing industries, both financially and morally.

Their hope is that instead of shoring up the banks, they will also release some of the taxpayer's money at their disposal to reconstitute and revitalise certain industries, especially those situated in the periphery of the country, where unemployment rates are climbing daily and the people are not afraid to work hard and even get their hands dirty.

Lord Mandelson the Business Secretary seems to be heading towards this school of thought having stated recently that "Britain needs to move towards less financial engineering and more real engineering"

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