In 1989 interest rates hit 15% but the impact was less than todays rises for most as this was a smaller proportion of household expenditure. Also in 1989 40% of households had mortgages, this is now 30% with old people owning property outright and perhaps more people renting (and thus exposed to the interest rate rises). This is how the Conservatives manage the economy – less chance to get a mortgage and if you do pay more to the banks who are making huge profits at the moment. Wage inflation is high and driven mainly by steepllong rises and bonus’s in the City of London. The whole economy has been fashioned by Thatcher to allow huge wage rises in the City, coupled with a destruction of skilled jobs in manufacturing. Privatised water companies have paid out tens of £billions since privatisation and the quality of our rivers has deteriorated.
I know that the next government will not share the ideological position that I would like, but I would settle for an efficient, non-vindictive one for starters. A government by the people, for the people will do fine! Let us banish corruption and privilege, get equity back into our system. In many ways the next government faces a bigger challenge than in 1945, then we had a united country with a desire to improve things for all. Now we have a divided country with elite seeking to divide the country on age, sex, race, class, location. TNC’s run the world and pay little tax whilst politicans seem in awe of them. The only constant is the bile and hatred promoted by the right wing media. Thank you Daily Atar for your amusing headlines, todays was a comment on te British Naturalists Society comment on 30C temps and imploring us to go skinny dipping with the banner headline “FREE WILLY”.