Economics, General election 2024, General elections, Labour, Inflation Business | The Guardian
Sticking to the Tories’ nonsensical fiscal rules, as it says it will, would be a political and economic mistakeLabour knows what it is like to inherit an economic mess. It did so in 1974, when Britain was on the verge of a period of high inflation and rising unemployment. It did so in the even tougher circumstances of 1945, and it will do so again if it wins on 4 July.Things are not as bleak as they were when the second world war ended, but coping with the twin shocks of the past five years – a pandemic and a European war – has been a struggle. Repairing the damage will be costly and time consuming.Larry Elliott is the Guardian’s economics editor Continue reading…
Sticking to the Tories’ nonsensical fiscal rules, as it says it will, would be a political and economic mistake
Labour knows what it is like to inherit an economic mess. It did so in 1974, when Britain was on the verge of a period of high inflation and rising unemployment. It did so in the even tougher circumstances of 1945, and it will do so again if it wins on 4 July.
Things are not as bleak as they were when the second world war ended, but coping with the twin shocks of the past five years – a pandemic and a European war – has been a struggle. Repairing the damage will be costly and time consuming.
Larry Elliott is the Guardian’s economics editor
