Only growth can save us! But we had growth between 2010-2024, it all went to the rich. So how is more growth going to the rich going to save us? The answer is, it is not.
According to the new Labour government only growth can save us!
“Sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people. That is why it is Labour’s first…”
To paraphrase, “Buy my magic growth beans and they’ll lead to the goose that lays golden eggs!” Like most politics, it’s pantomime. And a stalling tactic. Your life will only improve once we’ve had growth, not before.
We had around £390bn worth of growth between 2010-2024. But real weekly wages only grew by £16 in that 14 year period. Growth made no difference to the living standards of working people. Growth is a smokescreen.
There’s also a giant green hole in the growth equation. Is sustained economic growth compatible with environmental sustainability? That’s a question for another post but if growth only leads to the rich getting richer I’m happy to go without it.
The simplest and quickest way, no delay, to improve the living standards of all ordinary people would be to tax and redistribute wealth. That is a fact.
