It’s official, were in a ‘double-dip’ recession. What does that mean and does it matter?
Well, it means that the economy isn’t growing or in other words were producing less than we did say six months ago. If we’re producing less then firms are earning less and so are more likely to make people redundant who will buy less and so firms will produce less and so it goes on.
And whose fault is this?
Well we were told by the Government that if we took their stiff medicine we’d reduce the deficit and in the long term the economy would get better. Sadly the deficit isn’t reducing in the way they envisaged and the economy is going backwards. The casualties in all of this are the unemployed, particularly young people, women and the long term unemployed.
That’s why Labour is calling for a jobs and growth strategy. Invest in the economy which means more jobs and more people to spend and pay taxes which means more companies willing to produce things which means more jobs….
Time to ditch ideology and pursue economic growth.
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