McKinstry echoes what Hitchens has said in his blog... Yet beyond Osbornes canny politics, the Autumn Statement failed to address two fundamental problems in the economy: the lack of widespread prosperity and the colossal deficit. For all the Chancellors optimistic words yesterday, the fact is that the vast majority of the British public have not experienced the recovery at all. Pay for most workers has remained stagnant since the crash, with the result that living standards have continued to fall in the face of rising costs, particularly for energy. In 52 of the past 53 months, wages have not kept pace with inflation. It is a decline that has been worsened by mass immigration, for the import of cheap labour on an epic scale, subsidised by the Welfare State, has enabled employers to keep down pay. LOW wage rates are one reason why income tax revenues are much lower than expected, despite the phenomenal increase in employment. In turn that has contributed to the Treasurys chronic failure to get a real grip on the public finances. express.co.uk/comment/columnists/leo-mckinstry/543454/Leo-McKinstry-George-Osborne-barely-reduced-public-spending
Posted on: Sun, 07 Dec 2014 07:35:04 +0000
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