Labour is very proud of it's economic record since coming to office in '97 hence it's proud billboard boasts recently. I'm not so sure though!!
Yes, inflation is at record lows, but then global inflation rates are also at historically low records so it would be odd if the UK wasn't benefiting from this regardless of who was in power.
Mortgage rates are at historically low levels. Well, yes they are, (see above) but real interest rates (ie the mortgage rate less the inflation rate) aren't.
There are record levels of employment in the UK, that's good news, and unemployment is the lowest it has been for many years. Again, great news, but public sector jobs continue to rise, not all of which create wealth but simply redistribute it. There also seems to be a record number of "hidden" unemployment as the numbers of people claiming incapacity benefits are at a record.
As personal debt reaches £1 trillion (!?!), it's not surprising that the economy continues to boom, helped by additional Government borrowing. Surely it would be prudent for the Government to be reducing debt when the economy is booming so that it can be increased when the outlook is not so sunny?
I am fearful that the hangover, when it comes, will be severe.
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