in the red
WORKERS, MARCH 2003 ISSUE
BRITAINS TRADE DEFICIT last year was yet again a new record, at £34.3 billion, the worst total since records began in 1697, beating last years £33.6 billion. Our deficit with the eurozone doubled to £9 billion, and with Germany alone doubled to £8 billion. Novembers deficit of £4.1 billion was the record for just one month.
This shows the reality of our countrys economic performance, increasingly unable to produce the goods we need, increasingly dependent on others to produce for us.
Germany, once Europes powerhouse, has joined the euro, and it is now dragging the whole eurozone down with it, with 4.6 million German workers now unemployed, even on official figures. Would joining the euro help to solve our problem? The question only has to be posed for the answer to be obvious.