Stanley - Quality?

What's left is in good order fortunately, but it's proportionally much smaller than it was.

Dare I ask forum members who worked in industry during the worst years of collapse (1975-2010) what they think caused the problem? Whatever went wrong, it happened on our watch.

Dave

I think decline in manufacturing industry was due to both the Thatcher philosophy and the greed of the financial markets who wanted to acquire companies in order to liquidate their assets and feed the greed of the very loosely regulated financial institutions. The Thatcher philosophy seemed to enable the wholesale dismembering of manufacturing companies, she clearly was of the opinion that the wealth of our markets should revolve around the so called service industries. I worked for an engineering group that owned many well known manufacturing organisations, the group turned over a billion pounds a year, now long gone thanks to the beancounters, accountants should not be in charge of engineering groups, the remnants of the group I worked for are now owned by a large voracious French group hellbent on acquiring anything with any assets that can be stripped. They haven’t yet assumed full control and are already tampering with the pension schemes that they have acquired, for the moment my pension appears secure thanks to the foresight of the group I worked for placing legal safeguards in the pension fund articles. Sorry about the rant but this something that I feel very strongly about.

Dave W

When the interest rates peaked, many companies changed their capital expenditure policy from three-year payback to two, immediately cutting investment. When rates fell, this remained at two-years. One firm I worked for set the limit at one-year payback as the owners didn't expect to keep it that long before selling it on.

Brian

Mick, trouble is they are still getting away with it and who is supposed to police any system that is devised, those who are doing the robbery!!!

Dave W

This is rapidly getting political.

If it keeps this direction, it will be locked.

Neil

Neil

I rarely post as my posting number will attest and I do not get involved in political discussions but before you close this post may I have a say. I used to work for a firm of industrial auctioneers nationally for over 50 years so have some knowledge, and I can assure you that the greatest number of large industrial concerns closing was in the 1960s and 1970s well before Mrs Thatcher became PM. And before you jump to any conclusions I am no Thatcher apologist. before any member on this forum posts regarding this period of British Industrial history it would be as well to do their homework and check on when major industries actually closed rather than blaming it all on one person. I was there and I saw the reduction of industry through a lack of investment and a lack of care by ALL political parties. .Just remember the folly of nationalisation of the steel and aircraft industry not to mention the creation of British Leyland. All well before Mrs Thatcher. In most cases it was a lack of investment in new technology and poor marketing. Who remembers the introduction of the latest super British Leyland motor Car the Allegro with the Quartic steering wheel need I say more.

Jonathan

OK, its quite clear some folks cannot resits wading in on either side as soon as the decline in UK manufacturing is mentioned.

The quartic steering wheel seems a good place to bow out.

This thread is now closed.