The return of protectionism to the UK economy
As the economy heads off the nearest cliff and the plunging pound sends the price of imported goods sky rocketing the call to "Buy British" has intensified.
It’s a laudable request but one that presents something of a challenge given that we don’t actually make very much any more.
I managed it just before Christmas when I treated myself to a new hifi system.
Eschewing the rows and rows of shiny Far Eastern boxes I settled on some minimalist-looking kit lovingly hand crafted in, er, Essex.
Which got me thinking about the rest of my worldly goods and their places of origin.
Apart from some ageing M&S smalls bearing a fading "Made in the UK" label, everything came from beyond these shores.
Car from Spain, mobile from Korea, jacket from Bangladesh.
So, it came as a pleasant surprise this morning to discover that Britain still manufactures serious stuff, like railway engines.
Some 12,500 jobs will be created or safeguarded through a £7.5 billion order for new trains, unveiled by transport secretary Geoff Hoon.
P>
The contract has been awarded to a British-led consortium with the optimistically-sounding title Agility Trains.
This consortium, made up of John Laing, Hitachi and Barclays, is to make a "significant" inward investment as part of the contract, including building a new train manufacturing plant in the UK.
A rival consortium bidding for the contract, which includes Bombardier, the only company currently making trains in the UK, has been asked to maintain its status as reserve bidder.
Passengers using the Great Western and East Coast main lines can look forward to riding on the new "super express" trains – due to come into service from 2013.
We’re also promised that the new fleet will be cleaner, greener and generate less noise than the trains they will replace.
Which shouldn’t be too difficult if you’ve ever heard an Inter-City 125 on full whack at close quarters.
Today’s news will be a welcome boost for a UK manufacturing sector practically on its knees.
One has to wonder, though, if the recent wildcat strikes played a part in the government’s decision to go British.
There is a natural protectionist instinct during troubled times, where jobs are being axed by the thousand, left, right and centre.
Understandable, too, if the desire to maintain and create employment locally takes priority over price.
Value for money can be a tricky concept to pin down at the best of times.
On the face of it, the government would appear to have headed down the right track in opting for the British-led bid.
But it’s worth remembering what history has taught us – there can be a thin line between patriotism and protectionism.
