Did Britain's industrial transition require a severe shock?

Did the British economy need a hard correction in the 1970s because politicians had ignored earlier, gentler warnings?

The response blames earlier cancellations and delayed adjustment for making the transition harder, while the challenge questions whether cushioning it would have been enough.

One participant argues that earlier warnings had gone unheeded and that a severe correction was therefore necessary. Alex Clarke responds that politicians recognized the coming transition but postponed difficult decisions. In his account, cancelling CVA-01 and related programs during the 1960s removed contracts that could have supported industrial firms while they adapted. The intended bridge would keep money available to industry as services expanded, allowing change over time. This is a disagreement about how the transition could have been managed, with the earlier policy choices central to the reply.