ref date:7 Apr 1998 (ECON)
Londons overvalued pound killing exports
Mitsubushi are to close one of their larger t.v manufacturing plants in Scotland,
creating 850 new unemployed. This in the week where new Labour bow to pressure
from financiers in the city of London and leave the pound over valued.
Perhaps its pay off time for those in the City who manipulated events to help Southern
Tory voters vote Labour in?
With National Semiconductor in Scotland suspending production for a week as exporting
from the so called "UK" gets too expensive its bad news all round.
The "welfare to work" scheme has just been launched in Scotland by new Labour too,
superb timing, lets hope it is implemented more successfully than its cousin
in the United States...