In a speech to some of his supporters he has been recorded (HERE) saying Britain has become "fat and lazy" and that business executives would rather play golf on a Friday afternoon than negotiate export deals. He thinks we have relied on our past successes although I am not sure what he means since we haven't been successful for years. We have lost entire industries in my lifetime.
He is right that we don't export enough but wrong in his analysis. He seems to think we have the best products but simply don't sell them properly abroad. I have heard this from many a chief executive but it is still wrong. To be successful you have to make the best products and the uncomfortable truth is all too often we don't. This is why we buy foreign products over domestic rivals. Dr Fox thinks the answer is to open up trade and become unapologetic free traders and to avoid any sort of protectionism. I hope the workers at Tata Steel in Port Talbot are listening.
He is partially right but simply opening our doors to cheap imports will lay waste to many companies. The answer is to first become competitive and then open up trade. Opening up trade and hoping we will cope is not a strategy - except for failure.
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