old ways of doing things
One of the biggest factors missed out in the report is that nowadays the UK is a player in a world market.
The trouble is that in a privilege based society like the UK (continentals kindly refer to it as 'olde worlde' or 'old fashioned way of doing things') operational efficiencies don't really count for much hence decline of UK from a world leader in 1945-ish to its almost total dependence on false investments and offshore funds shenanigans.
It also appears to be infective and I guess that within the next 40 years India's economy will overtake that of the US.
Biting the hand that feeds IT
