The government were informed time and time again that its ‘austerity’ policies were detrimental to the economy and detrimental to promoting growth. They didn’t listen, and now Office of National Statistics show that productivity has plummeted to levels not seen since the Second World War as a result.
As we have discovered after five years of economic mismanagement, the only reason for ‘austerity’ measures is to increase bank profits. In fact, ‘austerity’ is very good news for major financial institutions, at the expense of business, manufacturing, and citizens as a whole.
From The Guardian
David Cameron has presided over an economy with the weakest productivity record of any government since the second world war, the Office for National Statistics said as it revealed output per worker fell again in the final three months of 2014.
In a separate blow to the government, two-thirds of leading UK economists said they believed…
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