First, of course, our economic problems are now enormous. The City has been a major contributor to the exchequer in recent years, but the economist Ruth Lea has written, ‘in the wake of the current crisis, this sector is not expected to be a major source of growth — on the contrary it is likely to contract’. Then there is the loss of manufacturing. The French President has described Britain as a country that doesn’t manufacture anything. In fact, manufacturing still accounts for 13% of GDP, but, with the recession, companies are closing. The steel producer Corus is under pressure. Then there is the depletion of our oil and gas reserves.