Quote:
Originally Posted by Chris
Except we don't need to strive for that - we just need to strive for a reasonable balance, and it seems to me that there is likely to be nothing wrong, in the long term, with an exchange rate that makes domestic manufacturing more cost effective.
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Minor issue that we import most raw materials and the energy to process them as we have an inadequate supply at home. These tend to be hedged in advance, but the hedging eventually runs out.
Be interesting to see how we strive for that balance and cost effectiveness alongside Liam Fox's assertion that we'll be a bastion of free trade.