Strong pound still hurting Britain
nick cowen, 13 April 2012
Lack of exchange rate policy is crippling hopes of economic recovery
The strong pound is a key contributor to Britain’s languid rate of economic growth according to a new Civitas report. Despite a significant fall since 2008, the high price of the pound is still preventing exporters from pricing their goods and services competitively on world markets.
In A Price That Matters, John Mills, an entrepreneur and economist, challenges much conventional thinking on economic policy. He shows why policies which ignore exchange rates and international competitiveness, and focus only on inflation, have contributed to the decline of manufacturing, stagnant incomes for many, entrenched regional unemployment, and rising inequality.