8 ms·
Real UK wages are stagnant because the UK has a desperately unproductive economy. Growth in disposable household income has lagged Europe massively for decades.
by nly 4y ago
Real UK wages are stagnant because the UK has a desperately unproductive economy. Growth in disposable household income has lagged Europe massively for decades.
We also have the highest tax burden as a % of GDP in 70 years. House prices are the highest relative to income than they have ever been.
We're a country circling the drain.
Blaming immigration and the EU in political discourse just suits the political agenda of our clueless, ambivalent politicians who haven't got the vision or balls to radically change anything for the better. Instead they'll just pick over what benefits they will cut and what taxes they will cut/increase and run in circles.
- Gibbon1 4y agoYour comment makes me think of this essay by Branko Milanovic Particularly this line: Xi sees the break-up of the Soviet Union and the end of the CPSU as the result of “ideological nihilism”: the ruling strata have ceased to believe in the advantages and the value of the system, but lacked any other ideological coordinates within which to situate their thinking. https://braveneweurope.com/branko-milanovic-the-rule-of-nihilists https://braveneweurope.com/branko-milanovic-the-rule-of-nihi... My personal term to describe the players in Britain's politics is functional incompetence. Which is while they are adept at gaining and holding on to office, they are hapless at performing the actual duties of those offices.
- cmsj 4y ago> functional incompetence Yep, our ruling class is educated to be quick witted in abstract debates and that is the extent of their depth.