This comes from the DWP report on those living on below average incomes in the UK, published this morning:
Three thoughts: first, if the economy was so bad from 1997 to 2008 why did so many people benefit?
Second, why is it that we still can't get median income back to 2002 levels?
Third, if median income is now flat but mean income is rising then why are we happy with growth that is clearly based on increasing inequality, which is the only way that this can happen?
Surely it is time that this was the real economic agenda?
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
The problem is how to change the narrative away from public sector debt and deficits to the private sector i.e reality. At the moment, right wing ideological policies are able to be justified by public debt and deficit levels. The flogging of the GIB is a case in point.
We need an effective oppostion that can actually challenge the narrative of comparing government budgets with household budgets. It is such a hard thing to do as most people understand their own financial precariousness and so can project it onto the public sector finances without any further thought – no one likes to be in debt.
The fact that the analogy doesn’t stand up is irrelevent – it is a very strong message and carries weight with the electorate.
And if you try to argue with them they get on their high horse and give you a lecture about financial responsibility which can sound like a version of the Four Yorkshiremen sketch.