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.
“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
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.
Last Monday, two middle-aged English women arrived at Abingdon market in Oxfordshire. One woman was there by chance. The other had carefully thought through the decision to go there, weighing the costs, benefits, and risks. This woman was one of the most powerful in the country. The other was one of the most vulnerable.
In 2010, the Conservative-led government, under David Cameron, introduced a new “long term economic plan”, commonly known as austerity, to reduce the national debt by cutting government spending. This post looks at some of the cuts that have been made, their impact, and whether Theresa May is continuing with the Cameron budget plans.
In the previous two posts we’ve seen May’s bold vision to lead a government that pro-actively intervenes in the economy to prioritise the interests of working class people and tackle inequality. This post looks at some specific areas where the economic system is failing and what plans Theresa May has to improve things.
With a focus on inequality, this post looks at the UK economy in the recent past, the current state of affairs, and the general direction we may be heading in under Theresa May.