It's a New Dawn
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An era of tragedy, slapstick and cruelty: Martin Rowson looks back on the challenge of drawing the successive Tory administrations who succeeded in bringing the country to a new low over the last 14 years. A period measured by Tim Adams @the Guardian from a speech made by David Cameron in 2009 where he proposed a 'Big Society' to the mad slogan brandished by Rish! Sunnak 'Stop the Boats'.
After 14 years of Conservative Party government, a person in the United Kingdom is much worse off than if the economy had continued to grow as fast as its pre-2010 trajectory. Britons had on average £10,200 less to spend or save in total during 2010-2022, when compared with 1998-2010 growth rates, according to an analysis of disposable incomes by the nonpartisan Centre for Cities research institute. Between 2007 and 2022, the UK’s gross domestic product (GDP) per hour worked grew roughly 6 percent, compared with 17 percent in the United States, 12 percent in Japan and 11 percent in Germany, according to OECD data. Economists have pointed to Brexit and chronic underinvestment stemming from years of austerity as key drivers of the UK’s lagging productivity.
Between 2017 and 2021, the UK’s investment spending amounted to 18 percent of GDP, compared with 25 percent of GDP in Japan, 23 percent in France and 21 percent in the US, according to a PwC analysis of World Bank figures. The Economics Observatory, a state-funded public policy project, has estimated that business investment in 2022 was about 10 percent less than it would have been if the UK did not leave the European Union. While the UK’s public services are struggling from years of underinvestment, the country’s tax burden is its highest since 1949 and both leaders have promised not to raise income tax, National Insurance or value-added tax further. Meanwhile, the UK’s national debt is higher than at any point since the 1960s at some £2.7 trillion ($3.4 trillion) – about the size of the country’s GDP.
Al Jazeera
From Austerity to Bre*it, the Tories have lurched into one crisis after another and the best way to sum it all up is a Rowson 'toon...
After 14 years of Conservative Party government, a person in the United Kingdom is much worse off than if the economy had continued to grow as fast as its pre-2010 trajectory. Britons had on average £10,200 less to spend or save in total during 2010-2022, when compared with 1998-2010 growth rates, according to an analysis of disposable incomes by the nonpartisan Centre for Cities research institute. Between 2007 and 2022, the UK’s gross domestic product (GDP) per hour worked grew roughly 6 percent, compared with 17 percent in the United States, 12 percent in Japan and 11 percent in Germany, according to OECD data. Economists have pointed to Brexit and chronic underinvestment stemming from years of austerity as key drivers of the UK’s lagging productivity.
Between 2017 and 2021, the UK’s investment spending amounted to 18 percent of GDP, compared with 25 percent of GDP in Japan, 23 percent in France and 21 percent in the US, according to a PwC analysis of World Bank figures. The Economics Observatory, a state-funded public policy project, has estimated that business investment in 2022 was about 10 percent less than it would have been if the UK did not leave the European Union. While the UK’s public services are struggling from years of underinvestment, the country’s tax burden is its highest since 1949 and both leaders have promised not to raise income tax, National Insurance or value-added tax further. Meanwhile, the UK’s national debt is higher than at any point since the 1960s at some £2.7 trillion ($3.4 trillion) – about the size of the country’s GDP.
Al Jazeera
From Austerity to Bre*it, the Tories have lurched into one crisis after another and the best way to sum it all up is a Rowson 'toon...
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