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The UK economic system is only a story of 1 failed resolution after one other


For those who ever watched Alan Bennett’s ‘The Historical past Boys’, you’ll know that in line with one of many characters, ‘historical past is only one fucking factor after one other’.

I’m not wholly satisfied by that argument. Bennett, nevertheless, had his character get into Oxford on the idea of it. I simply occur to suppose it might be rather more applicable to explain UK political economic system as ‘only one fucked-up resolution after one other’.

This morning’s information offers some proof of that. In line with the suppose tank, The Centre for Cities, as reported within the Guardian, the common UK particular person has misplaced out on £10,200 since 2010. These items are all the time estimates, in fact, primarily based on an enormous vary of assumptions, however is it believable to suppose that austerity, pushed by neoliberal ideology, badly failed the UK over that interval? In fact, it’s.

And then the Guardian additionally notes:

The UK’s fruit and flower growers face an “existential menace” from new post-Brexit border checks that might harm enterprise and have an effect on subsequent 12 months’s crops, the nation’s largest farming physique has stated.

Apparently, huge numbers of the vegetation we predict to be grown within the UK really begin life in EU-based greenhouses and are imported for onward development right here. And that’s all at menace, and nobody has reacted to this example by creating new capability right here (a lot for rational markets), in order that we now face a meals disaster, all due to neoliberal-driven Brexit.

And, in line with stories within the FT:

A 3rd of UK universities noticed a decline in abroad non-EU candidates in 2023, virtually twice as many because the earlier 12 months, in line with a Monetary Instances evaluation of knowledge from the college admissions service.

The result’s that UK universities are beneath severe monetary menace of failure, not least as a result of their charges from UK college students haven’t risen for greater than a decade, and inflation has resulted in universities now making a loss on instructing UK-based college students. The consequence is {that a} large UK export sector (which is what universities are) is beneath menace, and there’s a very actual danger that some universities could go bust – and under no circumstances solely these which can be educationally marginal. That is all due to failed decision-making coupled with the neoliberal demand that universities compete in a ‘market’ that’s intensely wasteful of sources and completely rigged.

Simply so as to add spice to all this, there may be then speak that Jeremy Hunt has possibly £10 billion to spend within the funds. So, guess what? He’s planning a tax giveaway regardless that there may be apparent proof that the nationwide insurance coverage reduce this month has carried out nothing for the get together’s standing with the citizens. He ought to be spending both on advantages or the inexperienced economic system – the place financial multipliers could be greatest – however is as a substitute going to waste this cash on extra tax cuts that may do nothing a lot for anybody. That’s neoliberalism in motion, once more.

So, only one disastrous resolution after one other.

No surprise individuals are fed up with politics and politicians, most particularly when Labour is providing extra of the identical.

How lengthy should we undergo this incompetence?

 


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