Not at all. Just that, for once in his life, he is spot on.
The study of the period 1945-79 is fascinating. The consensus that arose after the war, probably lasted until the mid-fifties, when the reality of Britain's declining industrial power became unavoidable. To compete on the world markets, you need at least one (preferably two) of three factors: skilled labour; cheap labour; raw materials. Britain did not have the latter so was already vulnerable. Other countries, particularly Germany, were outstripping Britain in terms of skill, and a heavily unionised workforce was pushing up labour costs. Decline was inevitable, but the policies of Wilson and Heath tried to ignore this: Wilson tried to foster hi-tech industry but found the results were not fast or great enough to help; Heath tried to control wages, but ended up simply in conflicts which ended in bail-outs. It could easily be argued that it was the "me me me" attitude of the unions from 1960-79, and their unwillingness to work with government of whatever shade that meant the rebalancing in the early 80s was harsher than it might have been.