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I think you might find just a few people in the West Midlands or Merseyside who's recollection is a little different.

Choice 1 - modernise that industry (notwithstanding the opposition to any change from the unions who absolutely DID need reining in) and attempt to move it forward. Cost; large amounts in grants and subsidy. Choice 2 - close everything down. Put hundreds of thousands out of work, in the plants...

Great post.