It’s the Comprehensive Spending Review today and people are endlessly talking of cuts. The military is upset that their budget is being slashed and the media have said that if we cut the military budget any further those pesky Argies will take over the Falklands all over again.
Maybe it’s time for a reality check. It’s no good to continually talk about the UK ‘punching above it’s weight’ forevermore just because of the lingering effect of a nineteenth century empire.
China: GDP $8.748 trillion, GDP Growth 9.1%, Population 1,338,612,968
India: GDP $3.57 trillion, GDP Growth 7.4%, Population 1,156,897,766
UK: GDP $2.128 trillion, GDP Growth -4.9%, Population 61,113,205
For such a small nation, the UK does have a large economy, one of the largest in the world. But the decimation of financial services will surely cause that dominance to collapse. And look at the population sizes and growth rates in India, China, and add Brazil too…
How long are we going to keep punching above our weight?