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My opinion (which partially matches what the article says). * The country chose austerity at the time of negligible interest rates. They should have used that

My opinion (which partially matches what the article says). * The country chose austerity at the time of negligible interest rates. They should have used that to make infrastructure reforms. * The austerity not only prevented infrastructure improvements, but also actively made the country less prepared for things like covid and Ukraine war shock. * Brexit. The idiocy of this act of self-harm is becoming clear to a large fraction of the population now. * Overspending during covid. Because we had BJ as PM during that, Covid was managed pretty badly, with significant debt accumulation that we now have repay at high rates (because a lot of this debt was created in form of inflation indexed gilts) * Series of bad governments over last 5 years. While Cameron was pretty bad, what we had since was really terrible. May, BJ, Truss, Sunak... * Bad housing policy. Not enough housing and allowing extensive usage of housing as an investment vehicle (i.e. promoting Buy to Let).

nvm0n1 3y ago
Brexit had literally no impact on this, and will likely help significantly. Remember that the eurozone has been an economic disaster for most of Western Europe outside of Germany, and now Germany is sputtering out too. The UK was "allowed" to not adopt the euro for legacy reasons but the EU would likely have demanded entry and many other harmful policies had the British accepted the argument that they couldn't leave even if they wanted to (which was the core of the remain argument).
- jemmyw 3y ago
  > the EU would likely have demanded entry and many other harmful policies That's not how it works. The UK and EU were bound to one another by various treaties. There was no mechanism for the EU to make such a demand, whereas an exit from the EU is a defined path. If the UK wanted to rejoin then the EU would be able to make such a demand.

nvm0n1 3y ago

Brexit had literally no impact on this, and will likely help significantly. Remember that the eurozone has been an economic disaster for most of Western Europe outside of Germany, and now Germany is sputtering out too. The UK was "allowed" to not adopt the euro for legacy reasons but the EU would likely have demanded entry and many other harmful policies had the British accepted the argument that they couldn't leave even if they wanted to (which was the core of the remain argument).

jemmyw 3y ago
> the EU would likely have demanded entry and many other harmful policies That's not how it works. The UK and EU were bound to one another by various treaties. There was no mechanism for the EU to make such a demand, whereas an exit from the EU is a defined path. If the UK wanted to rejoin then the EU would be able to make such a demand.