Strypey

"[Nicola] Willis says she's not an austerity minister, but cutting taxes, holding down wages and slashing government spending are austerity measures. There is no evidence they will reduce the wage gap: Australia is doing the reverse, which is why people are going there.

Britain, meanwhile, has spent 14 years doing very much what Willis has introduced. The result: Gross National Income per capita is on track to be eclipsed by Poland within about 10 years."

#SimonWilson, #NZHerald, May 30, 2024

May 30, 2024 at 12:34amWeb
Show threadDoug Whitfield [Minneapolis]May 30, 2024
@strypey no doubts these measures are dumb but Brexit has got to be a big contributor to the Poland note
Show threadStrypeyMay 30, 2024

@musicman
> no doubts these measures are dumb but Brexit has got to be a big contributor to the Poland note

That would certainly knock the UK economy off its perch. But if austerity policy worked, you'd see a big dip as the effects of leaving the EU kicked in, but the overall trend would be a growing economy and/or an increase in standards of living. Do we see either of these if we look at the last 14 years worth of data?