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Originally Posted by Big Brian
Indeed but wouldn't trading with the world even out that figure rather than be in deficit?
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No, because successive governments have been seemingly encouraging companies to move manufacturing to other (not always european) countries, leaving the finance and other service industries to replace the gap in our GDP. The previous four governments (Blair, Brown, Coalition, Cameron) seem to have spent their time actively encouraging companies to outsource or move those industries that remain.
Note, while they may not have visibly encouraged companies in either instance, they certainly have done nothing to stop it.
Regardless of whether we are in or out of the EU or the EEA, we have some amazing engineers, mathematicians and scientists in this country, yet funding in those areas, at all levels from Education up is, IMO, woefully inadequate. A situation that is likely to get worse before it gets better as a result of us leaving the EU, as the EU currently provides 65% of our research funding, and our government have shown no interest in increasing their own funding.