The deficit is not the problem

Conservatives: you tell us not to worry about inequality and welfare cuts because economic growth will fix everything. But you are not very good at running the economy are you?

Yes, the UK economy was not great when you took office in 2010 but neither was anyone else’s. There was a world crisis, caused by the banks, that you would have regulated even less than Labour.

As Professor Wren-Lewis of Oxford University says here, “Once we recognise that the (2008) financial crisis was a global event, then the three remaining major departures from trend growth happened under Conservative led administrations. In all three cases they can be associated with poor policy decisions taken by those administrations: money supply targets under Thatcher, ERM entry under Major, and austerity under Osborne.”

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