MORNING MEETING: Merlin Entertainments should be applauded and celebrated
A COMPANY that prides itself on making its customers scream may seem an unlikely candidate to show off the best of British business.
But theme park operator Merlin Entertainments has proved itself to be world class and should be celebrated as much as any high-tech manufacturing firm or finance company.
The owner of Alton Towers and Chessington World of Adventures is about to open the first Legoland in Japan.
Fittingly the new park was announced as a report by the EY Item Club showed the UK’s service sector is second only to that of the US when it comes to exports. Of our major rivals only Japan’s is set to grow faster over the next five years.
Financial and business services are the two largest categories but the sector also spans travel, transport, construction and leisure.
It is important UK manufacturing does well but that should not stop us applauding the success conjured up by the likes of Merlin.
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Even though the slide was not as bad as feared, it was still the worst decline since the Second World War
Britain's economy shrank less than previously thought during the recession in 2008 to 2009, revised figures showed yesterday.
The Office for National Statistics is changing the way it calculates the size of the economy to comply with EU-wide changes.
New estimates showed growth in 2007 was 2.4 per cent not 3.4 per cent as previously reported, while in 2009 the economy shrank by 4.1 per cent not 5.2 per cent as recorded.
Even though the slide was not as bad as feared, it was still the worst decline since the Second World War.
We will have to wait until September to see whether there have been any changes to figures for more recent years.
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Business is not all about sales and profits. Haynes Publishing has put the skills behind its car manuals to good use by running a youth training programme called MechaniX with the Prospex Youth Club in London.
The youngsters who took part will get a City & Guilds’ qualification and there are hopes that the scheme could go nationwide. It is a credit to everyone involved.
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