Subsidising low-productivity industries is not a good way to level up
Christopher Snowdon writes for The Sunday Telegraph
Philip Booth quoted in The Sunday Times
Philip said that “subsidising low-productivity industries is not a good way to level up. It’s fair to say that it hasn’t worked in the UK. There are several decades of total failure here, from the 1950s onwards in terms of encouraging car plants, the nuclear industry, Concorde, steel and shipbuilding. We never got anywhere near where we wanted to be.”
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