Orpington Labour Party

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Only the rich get richer in slowest recovery for 300 years

The government has been trying to convince us all how well we’re all doing now the economy has ‘recovered’. But recent reports show the recovery is the slowest for 300 years with incomes still falling for all but the richest.

Britain’s economy has finally returned to the size it was before the financial crisis of 2008. David Cameron and George Osborne have been claiming that this is all down to their genius economic policies. But as always there’s a lot they didn’t say.

Slowest recovery

David Blanchflower, professor of economics at Darmouth College, has shown that the Tories have overseen the slowest recovery since the South Sea Bubble more than 300 years ago.

And Ben Chu, the economics editor of the Independent, has shown that most of our G7 rivals had recovered the lost ground by early 2011.

Only for the rich

The latest report by Inequality Briefing shows that incomes increased for the richest in 2013, but fell for everyone else. Incomes for the top fifth grew by £940. For everyone else they fell by £250. And for the poorest fifth they fell by £381.

No wonder the old Etonians in the cabinet look so pleased with themselves.

Sources

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