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Monday, 30th March 2015

UK: Election 2015: What's at Stake for the Economy?

Source: Centre for Labour and Social Studies (Class) (UK)

From The State of the British Economy:

Following the financial crash of 2008, policies that invested money backinto the struggling economy brought about a return to growth. The rate of change of GDP - how economic growth is measured - improved continuously from the beginning of 2009 through to the middle of 2010 when it reached an annual equivalent rate of 2.4%. This promising recovery was terminated by austerity policies. A full 3 years passed until that rate was achieved again, at the end of 2013 when it rose to 2.7%. Rather than austerity prompting a return to sustainable growth, in reality the economy stagnated for 3 years....

Together the recession and the slowest recovery on record have had a damaging impact on real wages. A fall in real wages occurs when inflation grows faster than incomes rise. Inflation exceeded wage growth every year between 2008 and 2014.

+ Direct link to document (PDF; 925 KB)



Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

More articles by Adrian Janes »

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