The United Kingdom needs to develop an industrial policy as visionary and compelling as the German one

In the wake of the financial crisis, many have called for the UK to rebalance its economy away from financial services in favour of industry. Tim Page argues that the UK government’s laissez-faire approach which has weakened the country’s industrial base, and that the UK must look to Germany’s example by focusing on medium sized firms, and encouraging vocational qualifications and trade unions.