Why the Conservatives are destroying the economy

20 Mar 2023

Why the Conservative government are destroying the economy

The Conservative government claims to be the party of economic competence and stability, but their record tells a different story. Since they came to power in 2010, they have presided over a decade of stagnant growth, falling living standards, rising inequality and chronic underinvestment.

One of the main reasons for this dismal performance is their obsession with austerity. The Conservatives have imposed harsh spending cuts on public services, welfare and infrastructure, arguing that this is necessary to reduce the deficit and debt. However, many economists have warned that this approach is counterproductive and self-defeating, as it reduces demand, lowers tax revenues and damages long-term growth potential.

The Conservatives have also failed to address the structural problems of the UK economy, such as low productivity, regional imbalances, skills shortages and an over-reliance on financial services. Instead of investing in education, research and development, green technology and transport networks, they have favoured tax cuts for corporations and wealthy individuals, hoping that this will trickle down to the rest of society.

The result is an economy that is unbalanced, unequal and unprepared for the challenges of the 21st century. The Conservatives have also jeopardised the UK's future prosperity by pursuing a reckless and divisive Brexit policy that has alienated our closest allies and trading partners. They have ignored the economic costs and risks of leaving the EU single market and customs union, while failing to secure any meaningful trade deals with other countries.

The Conservative government are destroying the economy by pursuing an ideological agenda that favours short-term gains for a few over long-term benefits for many. They have shown little regard for the social and environmental consequences of their actions. They have wasted a decade of opportunity to reform and modernise our economy for the better. It is time for a change.