Earlier quoted context omitted.
"Economic reform" is just the latest soundbite. Half hearted acknowledgement that current tory policies have failed so by necessity the next thing being pushed must be branded as a change. Hence "reform". I have yet to see anything of substance fly under that banner.
It isn't (the indicator for this is that Reeves is saying exactly the same thing). It is hard to be brief but: * Financial services - totally fucked, most of the VC funding in the UK comes from overseas investors because pension and insurance rules (that were largely adopted from Europe) mean that they have to own large amounts of govt bonds...the recent problems indicate how wise that was. Everything isn't working:…
Imo that might work for a very small country or for a city-state (like Hong Kong or Singapore, even though these also used to make actual stuff), but I don't think you can base the economy of a country as big and developed as the UK is entirely on services. At most you get a pseudo-city-state, which is what London looks like, surrounded by economic "blob". It's not London that built modern UK, but the likes of Manchester, Birmingham, Glasgow and, yes, Newcastle and the North-East of England. All those cities might as well not exist now, from an economic pov.
Of course, I might be totally wrong on this as I don't live in the UK, but I've got most of that by reading David Edgerton's The Rise and Fall of the British Nation: A Twentieth-Century History [1] recently. (a Economist editorial from a couple of weeks ago was also quoting David Edgerton, if it matters)
[1] https://www.amazon.com/Rise-Fall-British-Nation-Twentieth-Ce...