UK manufacturing continues to crash

It is strange; the UK banking system fails and the UK government commits 90 percent of GDP to keep the sector from collapsing. Meanwhile, UK manufacturing goes to the wall; it is 12 percent down compared 2005, and government watches silently.

Why is that?

(Here is a nice post from JKA looking at this series across previous cycles. As JKA puts it "Comparing the cycles, the slow down is clearly surpassing the recession of the 1990’s but is yet to equal the drastic manufacturing shut down of the 1980’s. It's getting close!")