• The post you are reporting:
   
  PaulB - we must look after our own economy and let others make their own mistakes. The West has for too long lived hogh on borrowed cash and that party cannot go on.
  
  The simple fact is that the public sector IS dependent upon the private sector. The public sector does not create wealth and only re-cycles it and very inefficiently too.
  
  53% of our GDP is the public sector and that includes the 'secondary public sector' - those nominally private sector companies dependent upon public sector cash.
  
  That 53% is supported by the other 47% - a highly unstable arrangement.
  
  This is why we are losing out on manufacturing jobs to places like China where the state takes just 25% of GDP along with other Asia countries with far smaller public sectors than us. On top of that they have less red tape and beaurocracy as well, its a lot simpler to sack people in these countries so they are more willing to take risks and employ them.
  
  To compete we really should be aiming to get the public sector down to under 30% of GDP and with that money spent far more efficiently than at present. Plus getting rid of red tape and many of the more damaging employment laws.

Report Post

Your Name

Reason