IN response to MEP Chris Davies' remarks (Letters, February 17) in "Euro the only way to go," one asks: to go where?
We must bear in mind that with the inclusions of Eastern European countries into the EU, there will be a greater increase in the workforce able to produce our goods much more cheaply and who have lower safety standards etc. in the workplace.
Right across the EU, the proportion of the labour force involved in manufacturing has fallen since 1980.
But manufacturing is important to all economies, in relation to productivity gains and to foreign trade.
Those countries with a high proportion devoted to manufacturing have much more rapidly rising standards of living.
The critical point about foreign trade is that, across the developed world, about 60 per cent of all exports are manufacturers, about 25 per cent are services and 15 per cent are made up of agricultural products, raw materials and fuels.
Therefore, a country with a weak manufacturing base is likely to have balance of payments problems, thus creating deflation and slow growth. By staying out of the Euro, we can control the power to implement the policies we need to make our economy grow faster and so reduce unemployment and increase the tax base and public expenditure, which allows us to produce a fairer, more prosperous and more contented society.
To tie ourselves to the single currency, we would be at the mercy of the European unelected bankers, who have never been inclined to pursue such policies.
For the first three years we were in the Common Market, as it was then known, we paid our way - we had a balance of trade surplus - since that fourth year our trade has been in the red.
Now, across the EU it is revealed we have a gigantic sleaze amongst politicians, etc.
My answer to the question I pose would be to strengthen the now-tenacious Commonwealth ties and seek affiliated status with the European Union.
W KNELLER (Mr), Revidge Road, Blackburn.
Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.
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