ANOTHER THREAD ... In today's @FT @martinwolf_ says: "The Tories have provided dreadful government, from post-crisis fiscal austerity at the expense of the vulnerable, to the idiocy of Brexit".... a few problems with this
2/ There have been some disappointing trends in the British economy since 2010, most notably a stagnation in productivity growth and the related measure of wage growth.... BUT to say 'dreadful government' is seriously questionable ...
3/ Why... because if you dig in to the data income growth has been comparatively strong for the lowest earners, largely thanks to minimum wage legislation brought forward by the Tories (hardly dreadful governance)
4/ This has been helped by the fact we have seen a jobs miracle over the last 8 odd years... and these jobs have predominantly been created for the most marginalised groups of workers (the long term unemployed)
5/
6/ All these new jobs created (thanks to low tax, pro-investment, and welfare reform policies) now mean fewer children are growing up in workless households
7/ And what does this mean for poverty... well absolute poverty has been declining at a steady rate since 2010
8/ And inequality too is lower today than it was under Gordon Brown and Tony Blair
9/ So to say 'dreadful governance' is .... ummm questionable judgement ...
p.s. Sorry @martinwolf_ that you dont like Brexit but the majority of the country voted for it in a democratic process, it was NOT Government policy to leave the EU at the time. It is now, because we live in a democracy!
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