The Alayande & Coyle basically ends up arguing that the decline in aggregate investment share of GDP is primarily about the decline in equipment & machinery. the UK is also the *most* deindustrialised of the large rich economies in terms of manufacturing value added. the natural conclusion?

Seems like you either need to keep manufacturing going. Germany followed that route, especially by integrating with low-cost manufacturing in East Europe. Or move up value chain into ICT services, like the US did. France did a bit of both; the UK did neither.