Abstract
In less than five years, the economy of Coventry collapsed. For a century, Coventry had been at the forefront of economic growth but in 1979–1983 the city was plunged into an unprecedented recession and became a depressed area.
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Notes
- 1.
PWC (2016) Good Growth for Cities.
- 2.
FDI magazine European Cities and Regions of the Future 2018–2019. Financial Times, March 2018. Population between 200,000 and 350,000.
- 3.
The definition has changed over the years, so the chart is illustrative but remains indicative of the strength of the local economy.
- 4.
Tolliday (1988, pp. 63–77).
- 5.
Mayoral conferences were called to discuss the situation led to ideas but little action. Planes were built in Coventry since WWI.
- 6.
OPEC quadrupled the price of oil and Chancellor Barber’s budgets of 1972–1973 generated an inflationary spiral.
- 7.
- 8.
General Agreement of Tariffs and Trade which oversaw a series of trade negotiations (called Rounds). The Tokyo Round 1973–1979 significantly liberalised trade. In addition, the EU Single Market came into force in 1986.
- 9.
These included the closure of the Standard Triumph works in 1978 (7500 jobs) which was vigorously opposed and shelved.
- 10.
- 11.
JSA rate rose to 17% from 6% in 1978 but many people retired and/or left the city led Sheffield Hallam University to estimate it as effectively over 20%. In St Michaels and Foleshill Wards the JSA rate rose to 35%.
- 12.
The collapse of the Lawson boom accompanied by the First Gulf 1990–1991 War which generated a global oil price shock. Iraqi owned Matrix Churchill Machine Tool company (600 jobs) was taken over by the Bank of England and sold off, work on Kuwaiti Sovereign Fund financed Cathedral Lanes shopping centre was halted.
- 13.
Including Barclays Bank HQ functions, RSA Examinations Board (OCR), Fanuc Robotics, Walkers Snack Foods.
- 14.
The Ryton factory which closed (2200 job losses) in 2006 is in Warwickshire—The Peugeot offices in Coventry were downsized.
- 15.
In the 2010s people have been defined as working if they are employed for only 1 hour a week. This is a result of politicking partly to hide the dislocating impact of technological and employment change.
- 16.
This was done in some areas including S Yorkshire and Liverpool.
- 17.
High risk loans demand promises to repay—the Council made losses as did some individuals. However, the local tax income generated and employment offset much of the costs.
- 18.
Barclays Bank agents frequently asked for the number of unemployed office staff in the city. The inward investment team kept a running total (unemployed workers minus new jobs created plus jobs lost). Lower UK birth rates and ageing population forecasts drove these concerns.
- 19.
This was a common reason why Japanese and American firms were looking for a base in Europe.
- 20.
Poor labour relations, inefficient production units, old fashioned employment buildings etc.
- 21.
The Ryder Report (1975) noted that BL had 7 foundries and ‘productivity levels are judged to be less than half those in plants which use more modern equipment,’ p. 30.
- 22.
The Ryder Report (1975) Chapter on procurement.
- 23.
This ended the buyers and the use of brown envelopes.
- 24.
- 25.
This is summarised by the Code of Best practice in the Cadbury Report: Committee on the Financial Aspects of Corporate Governance 1992.
- 26.
Although the EU Commission is blamed for their complexity—UK governments have tended to ‘gold plate’ the regulations by adding in extra conditions.
- 27.
This includes much of the Humber Road factories; Standard Triumph works and the Telephone Works.
- 28.
Mackie (2008a, p. 26).
- 29.
Other reasons given by commentators were that it was easier to sack British workers than French ones; the UK was not joining the Euro and the sale of the UK site was more likely to raise more.
- 30.
2018 figure after 30 years presence in the city.
- 31.
Bought from BMW (owners of Rover Group) in 2000.
- 32.
Aston Martin was sold off in 2007 to a consortium led By Prodrive based in Banbury and Volvo Cars based in Torslanda, Sweden in 2010 was taken over by Geely Group of China.
- 33.
It is thought that Lord Bhattachyyrya of WMG—UW, a friend of Ratan Tata, played a key role in the take-over and the subsequent JAGUAR LAND ROVER success.
- 34.
Former name Motor Panels Coventry based in Holbrook Lane.
- 35.
This includes Jaguar’s employees at Whitley HQ and Ryton but excludes company HQ functions staff while LEVC has also research staff at its plant.
- 36.
The trade war between the US and China may slowdown investment.
- 37.
The IDC’s originated form wartime controls and incorporated into peace time by the 1947 Town and Country Planning Act. Most government used its powers until 1981 when the Thatcher government suspended its use.
- 38.
Wickmans on Banner lane had a leaking roof and has to stop work during heavy rain showers.
- 39.
Short Street on Parkside, in Hillfields and at Hornchurch Road. Around 40 all under 5000 sqm.
- 40.
These figures include development immediately outside the city limits taking these out would reduce them to 9 and 15%.
- 41.
One German inward investing company in 1989 described the property position as a verkäufermarkt and went elsewhere.
- 42.
The Council has participated in, for example, MIPIM, the international property event, since the early 1990s.
- 43.
Property development and facilities companies include Prologis, Goodmans, M & G with finance provide by many international banks.
- 44.
An early example of this in World War 2 was Coventry based Hawker Sidderley (parent company of Whitworth Armstrong) subsidiary Gloster Aircraft Co. assembled Albemarle. Gloster from individual parts and sub-assemblies produced by about 1000 subcontractors.
- 45.
Francine Lafontaine and Margaret Slade (2006, August) Vertical Integration and Firm Boundaries: The Evidence. Journal of Economic Literature, discusses the issues surrounding businesses limits.
- 46.
The main activity of an establishment generally determines its classification supporting activities may not match that classification.
- 47.
See Mackie (2008b).
- 48.
Voice over the internet protocol—technologies for the delivery of voice communications and multimedia sessions over Internet. This outsourcing was not seen as the issue it was to later become.
- 49.
CWLEP—CBRE Employment Land Study, p. 86.
- 50.
See Ludwig (2012) Secrets of a success story at JAGUAR LAND ROVER. Automotive Logistics. https://automotivelogistics.media/intelligence/secrets-of-a-success-story.
- 51.
This is a significant Brexit issue.
- 52.
Ecorys, Fraunhofer, TCI, Prognos and AUEB-RC/TRANSLOG (2015) Fact-finding studies in support of the development of an EU strategy for freight transport logistics Lot 1: Analysis of the EU logistics sector European Commission—CONTRACT NUMBER FV355/2012/MOVE/D1/ETU/SI2.659384
- 53.
The best example of this was the development of the Toys R Us 60,000 sqm. warehouse and 4000 sqm. retail unit on the c. 50 ha. Cross Point Business Park in 1989–1990.
- 54.
The official statistics in the 1980s may have for some series the University of Warwick may have been put in Warwick District statistics. Coventry Polytechnic until the 1988 Education Act was part of the city council and some Polytechnic jobs may be classified as local authority.
- 55.
Higher Education Statistics Agency data.
- 56.
Schumpeter disruption is popular in neo-liberalism and refers to sudden deep adverse changes enabling firms to re-energise by improving productivity and dynamism of the business. Chile in the 1970s and Poland after 1980 are often cited as examples.
- 57.
These include Norman Butter Robots Ltd in its original form; Noel Penny Turbines and software companies.
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Mackie, M. (2019). The Rebirth of the Phoenix City—Sectoral Shifts and the Evolution of Coventry’s Economic Base. In: Begley, J., Donnelly, T., Jarvis, D., Sissons, P. (eds) Revival of a City. Palgrave Studies in Economic History. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-22822-4_9
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