Posted by: thedailycrazy | January 20, 2009

22Jan09 – What Next UK?

What next for the UK?

What next for the UK?

Given the current ‘difficulties’ in the financial services sector in the UK, is it time that we looked around for a new rising star of the UK business scene?

Robert Peston, on his BBC blog, picked up a recent quote from Jim Rogers (investor): “I would urge you to sell any sterling you might have…It’s finished. I hate to say it, but I would not put any money in the UK.” In the face of a rapidly widening budget deficit and more banking ‘bail-outs’ to come, who could blame him.

The growth of our financial services industry has long been heralded as a success and it did indeed fuel a comfortable lifestyle for many of us – and I mean those not directly involved – for a number of years. Are there other rising star sectors out there in the UK? Are some of them more sustainable? Can any of them match the international dimension of banking? In short, what do we have to export?

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Responses

  1. I have realised that this post does not fully abide by The Crazy Philosophy – so I will kick off with a couple of sensible ideas and a crazy one.

    Sensible: pharmaceuticals – we’d be starting from a decent base here and think of all those lovely high-skilled R&D jobs, plus very resilient in a downturn. Media and the arts – following on from Slumdog Millionaire (!) and with BBC Worldwide becoming a powerhouse, plus it would be more fun to talk about than banking.

    Not sensible: could we export our pubs? Not on the Irish model (open an Irish bar in every major or almost major connurbation on earth) but literally lift the pubs up brick by brick and ship them off to be reassembled in China, India or some other emerging superpower?!


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