The worst decade: UK economic performance in the noughties the worst since WW2
Daily Mail – The economy has suffered its worst decade of growth since the Second World War, figures revealed yesterday. The findings, which show a far worse performance than under the Tories in the 1990s, raise serious doubts about Labour’s claims to superior handling of the economy during its 13 years in power. Gross domestic product, which is the country’s total economic output, rose just 1.7 per cent a year in real terms, which means the figures have been adjusted for inflation. At this low level, the last decade has been Britain’s weakest period of economic expansion of any ten-year period since the 1940s, according to the research based on figures from the Office for National Statistics. Read Article
Tags: 2nd Great Depression, debt & wealth, Europe, financial system
The UK banking system is not acting in the role that it should be as a support mechanism for UK industry, but acting in its own self-interest. Government are their partners here as they let the system do as it wishes. Indeed, the two together are creating more economic harm than anything else. The sooner the Conservatives get into power and to grips with this manifestation the better. Labour’s inactive mode is literally crucifying UK industry. When history writes the story of Labour’s 13 years in power, it will go down as the most disastrous for present and future Britain. For we are more in debt now, with on and off balance sheet debt, than we were after two world wars. The truth is that Labour has bankrupted the UK and in little more than a decade from taking office. Now worse is to come and that will be their great legacy for the people of this once great country.
Dr David Hill
World Innovation Foundation
Switzerland & UK