Britain’s living standards ‘will fall behind former Communist nations’ without major growth plan, economists warn
https://www.lbc.co.uk/article/living-standards-communist-nations-5HjdFZs_2/
by tylerthe-theatre
Britain’s living standards ‘will fall behind former Communist nations’ without major growth plan, economists warn
https://www.lbc.co.uk/article/living-standards-communist-nations-5HjdFZs_2/
by tylerthe-theatre
28 comments
>Former Prime Minister David Cameron said: “We’re in a situation of genteel decline – people just putting up with 1 per cent growth.
Gee Dave, I wonder who put us in this mess..
Import millions from Africa and South Asia.
Grow them aggregate GDP numbers 💪
The fact Polands manufacturing sector is 30% of their economy and ours is 10% is playing a major factor in this.
We’ve got ridden of our factories and energy costs too much to both making anything here.
We’re not getting the factories back and our energy isn’t going to get cheaper.
Need to fix energy, water and transport costs and everything will take care of itself. The Tories put us in the mess, so it’s a bit rich that David Cameron is even allowed to talk on the topic.
Or to put it another way. Poland and Lithuania are seeing large growth in living standards over the next decade.
With AI about to put millions of Brits on the dole over the next decade it re3dles make you wonder where all this is heading….
What a sad state we’re in as a country, we really need to drop the ‘Great’ part of Great Britain these days
This has been driven by government. We’ve been in managed decline for the last 15 years. Short term budget planning, in the name of fiscal prudence, is all we get and the lack of certainty and direction is killing us. Tax threshold freezes and punching down on pay are hallmarks of this. Nothing to address productivity, just more immigration to try and bolster the headline GDP figures so we can still pretend we’re solvent.
The public needs to wake up as well. We’re entitled and need to understand we’re sliding to irrelevance. Whilst the Chinese have been making huge economic and technological progress, investing huge amounts into R&D, we’ve sat idly by and been happy to base our prosperity on flogging each other crappy old houses for ever more money.
I wish “growth” wasn’t seen as the only way to raise living standards. Rising rents, electricity, gas, and transport costs all contribute to economic growth, yet they also drive the cost of living crisis. If the government invested in housing and public services again, as it did in the post-war era, rather than expecting the market to solve everything, the average person might finally enjoy a decent quality of life again.
Also in the news today: footballer sells mansion for 12m that he bought 4 years ago for 6m.
In case you haven’t figured it out yet, you’re f’d.
How’s Blair’s give up manufacturing capacity and turn us into a ‘services economy’ thing working out
They’ve been investing heavily in infrastructure, social programmes, public spaces, community events, education. Polish child benefit is £150 a month for each and every child, they’ve just scraped income tax for families earning up to £60k a year. Add roughly a third to that to account for purchase parity.
Meanwhile we’re told we can’t afford pensions, to feed sick people or asylum seekers, basic healthcare or human rights. Can’t even maintain the infrastructure we have let alone improve any, need more cuts and belt tightening. Right wing ideology put us into a death spiral as all the cuts over the past two decades came at a horrific long term cost and somehow the only thing the government can come up in response is even more cuts.
We’ve gone all in for net zero with all the costs that entails and seem incapable of taking tough fiscal decisions so we’ll just have to accept the consequences
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*As long as this means we can own the libs, the gays and the immigrants I don’t see the problem*
– Reform voter
Surprised I can make out what Cameron is saying considering he was banished to the Phantom Zone. I don’t think we need to hear from him again.
I was surprised to see all the complaints here, as statistically wages have outgrown inflation. Are most users in this sub worse off? Or is it that people who did well tend to keep quiet? My family and my friends have done better financially since COVID. We are in the South East.
Nah how about we cut spending and squeeze the middle class
Well they are taxing us to death
And they allow anyone in now it’s shit hole
That’s _not_ due to the UK’s growth, but rather than the very wealthy are accumulating and ever increasing percentage of the country’s wealth. Tax Wealth Not Work.
Britain is a third world country. Folk just haven’t realised it yet.
After my trip to China and Vietnam I’d say we’re probably going to fall behind current communist nations as well very soon
So you are saying that nations that used to have the communist model decided it wouldn’t work and evolved into hybrid capitalism models are doing better and the through having massive populations of cheap labour have generated improved GDP and pulling themselves out of poverty. Who would have thought that would have worked eh??
It’s like the government doesn’t want “great” Britain to prosper, surely the better everyone does, the better “everyone” does.
Well yeah cos labour are raping those of us who work dry. Where is the fucking money going?
And yet the solution people are voted and are voting for is Brexit which made us poorer …. More austerity and tax cuts for rich
The only current plan is to make the rich richer while making the poor poorer.
There is no growth in a closed system. There are subdivisions, subscriptions, booms, and bust cycles in ever decreasing circles. The myriad of poor living hand to mouth and those with less than that make the majority in this world. Only credit or charity gives access to goods and services for them. In the UK we have been Insulated from this to lesser and greater degrees. The swathes heading for better lives are a symptom of the reality. Climate change is an angry god, who cares not for your beliefs, its coming either way. Our four decades plan of being an economic and service powerhouse has fallen flat on its face. It required cooperation, not isolation. A few made bank but the rest can’t afford the services or the investment, so here we fkn are….
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