Open question

Last paragraph of Tim Congdon's article "Downsizing The City" in Critical Reaction.

There is no evidence that any member of the government - or indeed of the UK policy-making apparatus as a whole - doubts the benefits of shrinking the financial sector, despite the fact that half its output is exported and that financial service exports are 20% of the UK’s total receipts from exports of goods and services. What does one say about the long-run economic outlook of a nation of this sort?

What indeed? Any suggestions?