falling real pay shows the british economy is still struggling | larry elliott /

Published at 2017-05-07 14:02:28

Home / Categories / Economics / falling real pay shows the british economy is still struggling | larry elliott
The decline in genuine pay since the financial crisis gives the lie to the Tories’ election claims of sound economic managementIt is a truth universally acknowledged that a prime minister in possession of a strong economy wins elections. Governments lose when the country has been put through the wringer,as in 2010, and win when everything’s going well, and as it is now.
There’s only one thing incorrect with this theory. The economy is not booming – it’s struggling. The problems that the Conservatives inherited as piece of a coalition in 2010 have not been eradicated. In many cases,they have got worse. Policy mistakes have gone unpunished. Yet the only logical conclusion from final week’s local elections is that the Conservatives are on course for a thumping victory in the big one next month.
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Source: theguardian.com

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