The heading above was part of a subhead for an article in the Economist. The headline was "Britain's real problem".
Britain, the author tells us, is stuck in a 15-year rut. The "dynamic, free-market place" view of itself is a myth. It has a growth problem that few recognise for what it is. Among other hair-curling details they point out, is that "Britain has been declining against America and Germany since the mid-2000s."
The article talks of our "feeble productivity", pointing out that up to 2007, our growth was second only to America. From then until 2019 only Italy was growing slower than us. Then, "at least in the short run, Brexit made matters worse." Not only did we export 16% less in the last quarter of 2021 than the equivalent period of 2019, the Economist sees the outlook for the future as poor too.
I would divide this time of slow, no or backward growth into the period 2007-2010 when Brown's handling of the financial crisis was praised around the world.
Since then, we have had a Conservative government (with the Lib-Dems doing what they could at the beginning). So where did the party that tells us it is the "party of sound finance" go? Is it that it has never been such an entity in modern times? Another lie from the party of liers?
The Tories tell us only they can deliver a high wage, low tax, high skill, high productivity economy – with incomes rising fastest for those who are lowest paid. But they are not only not doing that, but they also have not been doing that at any time in recent memory. Their predecessors (2007 -2010) succeeded against difficulties shared by all of the wealthier countries. During this run of the Tory party, they have simply failed in every way. They have failed economically, failed to build for the future and failed to make our country resilient.
Back to the article where the author suggests we should not be fooled by clever political talk that "paints Britain in a favourable light". This boosterism, they point out, suppresses the real tools for growth. We also need clear thinking after the obsession with cutting deficits in the 2010s.
The article concludes by saying, "Britain suffers from complacency, born of centuries as a first-rank economy, and Johnsonian blustering only exacerbates it. If Britain is to avoid a bleak future, it must grasp reform. That will require a once-in-a-generation show of political courage, persuasion and policy ingenuity".
Does anyone really think this lier of a leader, heading a government with few principles, who have only made things worse for the last twelve years, can actually do that?
How did you vote and why today
Happy Birthday - 100 years on Earth
A Swell Idea From ASDA To Deter Shoplifters!


