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Since 2007, the area's contribution to national economic growth, measured as gross value added, has shrunk from an already weak 3% in the Blair years to barely 2%.
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Shares in the iPhone maker have fallen from $132.97 in July to $94.95 today, meaning its stock market value has shrunk by a staggering $210 billion in value.
Since the start of that year, the real value of equities has shrunk by 0.1% a year (see chart).
Now the time value of money has shrunk.
And the value of the Delta stock has shrunk below $1 million.
This year, the Digital Lightwave founder may fall short, since the value of his 60% stake has shrunk dramatically.
Tincknell this year reinvested £1.6m, which has shrunk in value.
His stake of nearly 5% has shrunk in value.
Their fees have been diminishing as withdrawals have increased and as the market has shrunk the value of the investments.
But it has carried on growing even as its current-account surplus has shrunk, and trade has subtracted from growth, not added to it.
Its market value has fallen from £11bn to £5bn and the workforce has shrunk to just 26,000.
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