The hit to the UK economy and the public finances from the pandemic and the persistent weakness of both investment and productivity have underlined the importance of finding policies that promote growth. Could engineering a substantial fall in the exchange rate be part of the solution?
In this latest piece, John Mills argues that the only way to secure a brighter economic future from Coronavirus is by creating the conditions for manufacturers to thrive and compete, just like we did in 1932.
More than anything else, the result of the 2019 general election highlighted the huge divide between London and the rest of the UK. Government policy is now heavily focused on trying to close the gap.
What would actually happen if we had a much lower pound is that it would suddenly be worth investing in industry again in the UK.