Solution 5: Revive the export economy.

Some people argued that the UK manufacturing has withered in the face of unsustainable housing and credit booms, so Britain will have to go back to producing manufactured goods. Also, there's an idea which is using "economic geography", the study of the processes that make economic activity cluster in particular locations. The British government could develop new industrial sectors to revive its economy and also to spot these innovation hotspots early on and facilitate their growth with an injection of investment.

Obviously, developing new industrial sectors might be a good idea to make a quantitative increase in exports, and it helps to increase trade. The unemployment problem might have been lightened and also the local economy will be improved by the developing of industrial. There are other ways to revive the export economy as well such as to reduce the transaction cost for exporters by doing away with multiple agencies to make the process as seamless as possible, to add the Goods & Services Tax and etc. These plan are seemed to be possible to implement and they will be quite effective.

However, the innovation hotspots also mean a big number of costs, and at this time the UK economy is not that flourish even some people think it is falling into recession. Maybe it is a little bit hard for the British government to supply the financing, and the innovation must be incubated, this is a big goal which needs the government spend a lot of money and time to achieve.