by Jim Rose in economic growth, economic history, poverty and inequality

When I pointed out yesterday that the only periods of sustained real household income growth in recent British history was under those neoliberal lapdogs Thatcher and Blair, the Twitter Left on Reddit decided rather prematurely I might say that:

The prime minister rarely influences broad economic realities — like commodity prices or interest rates, or double digit economic growth in china. Elections frequently change the party in power AFTER the economy turns downwards. As though that party had anything to do with the down turn.

I’m sure that the morally centred Twitter Left will be equally forgiving of the sustained rise in child poverty due to many more workless households shown in the chart below under Thatchernomics. The only sustained fall in child poverty rates in recent British history was under Tony Blair. The British Left and current British Labour Party leadership dismiss him as a continuation of Thatchernomics.

Source: Incomes in the UK – Institute For Fiscal Studies – IFS.



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