Ten years on from the global financial crisis – and the government bailouts that saved the financial system from collapse – the UK Prime Minister gave a speech at the Bank of England, extolling the virtues of free markets.
“‘There is no magic money tree,’ Theresa May said during the election campaign when confronted by a nurse complaining about low pay. Yet now that the Conservatives need the support of the DUP to give them a working majority, suddenly the magic money tree appears: £1 billion of additional spending has been promised to Northern Ireland. Can austerity survive such hypocrisy?”
Simon Wren-Lewis, Professor of Economic Policy, Oxford University, 7 July 2017
“Do you think it’s fair that the nurses get just a 1% increase year-in year-out regardless of inflation – so they get poorer, so some of them we’re told go to foodbanks? Is that fair? Do you sleep happy at that?”
David Dimbleby questions PM Theresa May, 2 Jun 2017
Conservative or Labour? In our first-past-the-post system this was the binary choice on offer to the British people on 8 June. Theresa May spelt it out for us on the day she called the election.
“It is a choice between me and Jeremy Corbyn. Britain simply will not get the right Brexit deal if we have the drift and division of a hung parliament.”
Theresa May, 18 Apr 2017
No one was expecting the “drift and division of a hung parliament.” The Conservatives, 20 points ahead in the polls, were looking for a thumping majority to do Brexit their way. The local election results on 4 May reinforced Conservative dominance. With talk of Labour being decimated, their first priority was survival. A one-party state was more likely than a hung parliament.
Yet here we are today, in a hung parliament, embarking on Brexit talks to negotiate our departure from the EU. So, what happened?
“I don’t know why she’s [Theresa May] running for prime minister, I don’t know what her vision is for the country, I don’t know what her agenda is, whereas I do know what Corbyn’s agenda is. It’s a more equal society.”
– Ed Miliband, Labour MP, 3 Jun 2017
Mrs Thatcher was a signpost. Mrs May appears, so far, to be a weathercock.
See full post: What does Theresa May stand for?
The richest 1% in the UK have doubled their share of the nation’s income from 6% in 1979 to 13% in 2012.
From post: Economic reform: government steps up, not back.