Britain's manufacturers will enjoy faster growth than those in Germany or any other western European economy this year from rising demand at home and abroad, according to a report.
In its annual survey of companies, manufacturers' organisation EEF found 70% of firms forecast an improvement in the economy in 2014, while just 5% thought conditions would deteriorate. The balance of 65% compares with the sombre outlook at the same time last year when the reading was just 7%.
The balance expecting a good year for manufacturing is 52% – up from zero this time last year.
The UK is in the process of implementing even deeper cuts in its social services. But the economy is recovering, which proves that austerity is working, that it's cementing business and consumer confidence. More austerity will only help the economy more.
Well and good. The lesson in all of this? We on the left must not attack austerity on the grounds that it hurts growth. That position is bad because it does not address the core problem, which is the ruling ideology of growth itself. Why does the UK or US need to grow forever? And it's a growth that only adds more carbon to the footprint of individuals in advanced capitalist societies. Keynesianism and neoliberalism are the same in the sense that they face the same obstacle: Finding a way to endless economic growth.