It wasn't doing ok hence why both Tory and Labour governments wanted in. Look at growth statistics or productivity. We've been in steady decline since WW II even relative to our European neighbours never mind the fast expanding economies of Asia. Sadly the EU wasn't a magic solution. Nor was the Thatcherite revolution. Nor was Blair's dream of us being a hi-tech powerhouse whilst the 3rd world did the actual building of stuff. In the meantime our businesses continue to prioritise short-term rewards for shareholders over investing in their businesses for the longterm.