Dopey, it wasn't a proposition, just stating the facts.
But if the value of the AUD fell 50% against the GBP, then chutney (from a definitely high cost environment) would double in price. That would certainly make it more attractive to make it here, surely? Not that we could improve on Sharwoods' quality, but we would be able to compete on price. Even if we only manufactured for the home market it would provide jobs locally and improve our balance of payments. It doesn't have to be an export industry (although that would be even better).
Ah, I think I see what you think I was suggesting. No, not suggesting that we should trash our own currency to become competitive - perhaps you don't fully understand the thread title - rather when our currency falls because the mining boom ends (dutch disease is cured) then we will have higher prices for imports, which will naturally make domestic production more competitive. Which will happen without money printing, or interest rate fiddling.
