Margaret Thatcher ruined the British manufacturing sector, right? Well, probably wrong. While it fell from 25.8% of GDP to 22.5% under the Thatcher government, the general increase in GDP meant that the size of the sector increased significantly.
There was another fall during the seven years of the Major government to 20%, but in the 12 years since 1997, it has fallen to ... 11%. Bearing in mind that a significant proportion of that capacity is actually food processing which is likely to be processed near the point of consumption because food doesn't travel as well as, say, ball bearings or machine tools, and we can see that it has fallen far faster under Labour, who as we all remember were critical of the size of the industrial base when they came to power.
Of course a simple look at Labour policies shows the reason, favouring the film industry, R&D (not tied to UK production) and the offshore shipping industry with investment allowances not permitted to the rest of business whilst reducing the rate of capital allowances and eliminating finance leasing. It is hardly surprising that there has been no investment in industry, and its relative importance in the economy has halved under Labour.