Further to the earlier Slog post about the FCO leading Willy Hague round the houses on foreign policy priorities, figures released today show just how urgently the EU meltdown needs the Foreign Secretary’s undivided attention.

Our export earnings for March with countries outside the Eurozone were £10.1 billion; and our initial contribution to the EU cash balancing fund will be just over £8.5 billion. So most of the hard work put in by our exporters in that month has gone to help the PIIGS.

This would be fine if we could in any way afford it. But sadly, our trade-gap continues to widen: imports from outside the EU were up 12% year on year to £14 billion. And the size of our own deficit means we will ourselves be needing bailout help before long. As EU members outside the Eurozone, we will get any? I wonder.

The underlying problem remains the same: our costs of production are too high to compete sensibly in export markets – and we don’t grow or make enough of what people want. This is the legacy left by progressive government: zero commercial perspective.