Letter: Crisis Shows Need for Mixed Economy

The Birmingham Post (England), January 22, 2009 | Go to article overview

Letter: Crisis Shows Need for Mixed Economy


Byline: Vincent Hammersley

Dear Editor, Although I must agree with the sentiments expressed by Lord Bhattacharya in The Post on January 20, I do have some real concerns.

As we have very little of our own manufacturing industry left, and by this I mean primary sources of manufacture, not the supply chain, what guarantees do we have that any financial aid given by the Government will be of any long term benefit to the UK?

Even in The Post on the facing page it is reported that President Sarkozy has only offered help to Peugeot if it protected jobs in France.

A very good idea indeed but as all our major motor manufacturers are now foreign owned, the implication is that if everyone took this commendable route and Honda, Toyota, Peugeot, Jaguar/Land Rover and Nissan were forced to cut production capacity, we would be amongst the largest losers.

The current crisis in the banking sector is as dramatic an example of why this country needs a mixed economy as one could ever expect to see but how fit will we be to take advantage when a recovery begins? …

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