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Britain, however, has ended up specialising in the ones you don't see as much of: defence aerospace, making drive shafts for cars, pills and drugs, designing chips that go into 94 per cent of the world's mobile phones. And so there's a danger that because it doesn't have a British flag on it, people won't realise that we actually do produce value. ↗
Interest rate cuts have an effect in stimulating an economy by directly or indirectly making someone, somewhere, spend more than they otherwise would. That extra spending increases demand and ensures that we all carry on with work to do, without us having to slash our prices or our wrists. ↗