Readers not old enough to remember what are often referred to as the “Thatcher years” may not appreciate how dramatically the UK’s economy changed during the 1980s.
Like some other Western economies, particularly the US, the UK increasingly shifted its focus toward services, finance, retail, and consumer spending, while manufacturing became a smaller part of the national economy.
Before Margaret Thatcher became prime minister in 1979, manufacturing accounted for roughly 30 percent of UK national income and employed around 6.8 million people. [Read more…] about Interview with MTC’s Mike Wilson: ‘Automation is not optional if the UK wants to rebuild manufacturing’