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£10,200: How much worse off Britons are after 14 years of Tory rule | Business and Economy
(www.aljazeera.com)
this post was submitted on 26 Jun 2024
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UK Politics
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The inflationary pressures of recent years are a direct result of the massive spending and borrowing the government did during COVID. Yes, Truss too, but the majority is from COVID.
Austerity has eviscerated public services and local authorities. It's the reason homelessness, food banks, NHS waiting lists and child poverty have all sky rocketed since 2010.
I think more Brexit than Truss, COVID and Russian's war. Two of those are British specific and done to us by Conservative governments. It's their fault.
Lemmy is obviously very triggered by what you're saying, presumably because speaking against lockdowns and furlough is very controversial. But you are largely correct.
COVID cost the UK in the ball park of £360 billion, some estimates go as high as £410 billion, most of that was printed money. You can't inject that much in to the economy all at a time where there is comparatively very little productivity and then not expect significantly higher levels of inflation, it's economics 101.
About half the sum in the headline, maybe a little more, can be directly attributed to how we dealt with COVID.