An economist, entrepreneur and political commentator, I'm Founder and Chairman of JML, the consumer goods company. I'm also Chairman of Labour Leave & Labour Future, Chairman of the Pound Campaign, and Secretary of the Labour Euro-Safeguards Campaign.
I've been in business for more than 50 years. In that time I've seen hundreds of proud, successful British manufacturing firms forced out of existence and thousands of jobs shipped off to Asia. I've seen skilled manual jobs all-but disappear and areas of Britain that were once thriving and full of hope are now effectively redundant.
We need politicians from all parties to start considering a new economic and political strategy; one that brings business and jobs back to Britain.
In my opinion, as sterling has devalued to a more competitive level since the EU Referendum, there is every chance that manufacturing can now start to recover, investment in our future productivity will start to increase and, in the longer term, there will be less unemployment. I believe we now have the means to raise our growth rate incrementally on a sustainable basis, with rising living standards, more equality and no need for the austerity policies to cut the government deficit.
If foreign investment falls, leadership failings will be laid bare
Many people in the market and much of the commentariat are currently concerned with the recent weakness of the pound on the exchanges. They are barking up the wrong tree. The real sterling crisis is that the pound has been too high.
MPs are gearing up for a fight with Theresa May over access to the EU’s Single Market, as the government prepares for a series of legal battles over its right to take Brexit decisions alone.
Sterling is now trading at well under $1.30 to the pound, the lowest it has been for 31 years. Is this a cause for gloom or celebration? Most people seem to be depressed by what is happening, but they ought to be rejoicing.
Labour donor John Mills has warned Jeremy Corbyn’s party face dramatic electoral losses without more fleshed out economic policy to lure support.
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