Will we ever get out of this recession ?

The pundits say that it might take up to ten years to truly get back to steady growth in Britain but I was wondering how we are going to manage this if we cannot compete on the world markets because of our high wages.

I mean, if we keep paying ourselves double or treble what the outsourced countries pay their employees we will never be competitive again will we ?

I don't think that Britain can survive or the service industries alone, do you ?

I agree, as the service industries need to have a backbone of manufacturing to create the wealth that people can spend. In other words, if nothing is created nothing can be injected into the economy.

The service industries just push around the money that is available to us via our wealth-creation industries and if people are no longer employed here making that wealth I would suggest that eventually Britain is going to shrivel up and die.

Not a very happy future to look forward to !

As I see it, the only way that this problem can be sorted is if the third world countries that are strangling our trade at the moment because of their very low wage costs start to grow enough so that the workers there are able to claim decent wages, these countries will then not be so competetive and we will then be able to compete on a level playing field once again. This may take some time to come about !

Unfortunately this is what we are going to have to look forward to as the world economies become more globalised with free trade and free movements of people coming from abroad.

Not that anyone wanted this to be honest but we seem to have no say in the matter because the politicians seem to know best. Don't say you weren't warned and don't complain if you voted lib/lab/con or any of the other tired old communist dinosaurs.

Andrew