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Better jobs, not just more jobs

Britain is losing out to foreign competitors

By Chuka Umunna   October 2013

In 2010, ministers took office promising to rebalance the economy and deliver an export-led recovery. Indeed, the pledge of a “more balanced economy” featured prominently on a list of “clear and transparent benchmarks” for Britain in the Tories’ manifesto.

There is consensus on the need to diversify our economy and to achieve growth which is better balanced across all regions and sectors, but the government’s delivery of these objectives has been poor. Last year our trade deficit increased to nearly £58bn, up from £20bn in 2011, while a recent report by Ernst & Young found foreign investment in the English…

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