May 2015: Start elections

As soon as the 2015 elections appear in the Coalition and the Labor Party’s financial policy, it seems to be the quicker and how often and the sooner, John Week, Professor Emeritus at SOAS at the University of London.

Prior to the selection of May 2010, Labor Prime Minister Gordon Brown clearly rejected the interruption of the public budget, because in their opinion, the recession will worsen. In March 2010, the leader of the Liberal Democrats Nick Clegg, ‘economic masochism’ was attacked by budget cutting. During the discussions, he maintained this position.

Only conservative David Cameron caused the expenditure of the party or how much importance. The absence of the conservative of the next vote led to a coalition with the Liberal Democrats. Given Clegg’s election opposition to any small cuts, it was not possible to start radical reductions on the coalition spending. However, the leader of the Liberal Democrats turned himself upside down.

Suddenly, the British community discovered that a government dedicated to the radical decline in public spending. The coalition government and especially its Chancellor George Osborne, he was openly presented to reduce costs. The state budget reflected 10 percent of the total national product, which allegedly been unparalleled during the peace time, income, income expenses.

He was higher in the current expenditure balance, except for investment – in 1994 (9.1 percent of the GDP minus 9.1 percent compared to 2010). How to measure – and miseasure – All aspects of the government budget will prove the center to sell the British community (weeks 2014) stiffness.

The result of the wrong and failed attempt to reduce rapidly cutting is shown in the table below. After the four-year coalition government, one per capita per capita and household income, in 2008, the decline in 2008 remains below the levels of the recording, the slowest economic improvement.

GDP and domestic resources are income, 2008 percent difference since 2008

The 2015 elections are the accents, as it seems to emphasize the differences in the coalition and the financial policy of the Labor Party of the Labor Party – the sooner and how quickly it should be cut. In his speech to Fabian Society on January 25, 2014, the EDMs of Shadow took the EDMs for operational labor current Costs. In practice, this envisages an overview of about 3 percent of GDP. In contrast, the Chancellor is looking for a general surplus.

In 2010, the British voters faced an election supported by the financial shortcoming of the three large parties – and there were two people. The hardness party, conservatives, 36 percent of the votes, labor and liberal Democrats were 52 percent. A few weeks later, none of the election was the economic policy of the British government a few weeks later.

If the change was held in the parties in 2015, voters were not found in the clashes in the conflict of continuing economic stiffness for the future to be seen in their ballots. The rising of the Green Party in the survey offers an open anti-hard position of many voters. Only the prospects of the seat, the parties who have the prospects of the national seats, recognize that there is a bad economy and bad economic policy, and it has created a bad social policy.

John’s Week is one for economists for the establishment members of a group of economists, for the establishment of economists, in the election campaign and after economic issues. Follow it on Twitter, # JOHNWEEKS41

Costly