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What’s wrong with the economy?
It’s been over five years since the financial crisis hit and yet, despite a small uptick in quarterly GDP, there is still no sign of a sustained recovery. According to Sir Mervyn King, it could be at least five years away. Yet interest rates have been at a record low for over three years and QE has supposedly pumped £375 billion into the economy. Why has this not produced the promised growth?
The better we understand our financial plight, the more difficult it will be for politicians, bankers and economists to mislead us. Ever eager to win votes by spending taxpayers’ money, do our short-termist politicians even understand how wealth is actually created in? When the Prime Minister, Deputy Prime Minister and even the Chancellor confuse “debt” with the “deficit”, just how well informed are the people making the vital decisions about our future?
In conjunction with The Cobden Centre and The Adam Smith Institute, we have prepared a layman’s guide which aims to cut through the baffling economics and jargon and explain the situation as clearly as possible.
Steve Baker, chairman of the All-Party Parliamentary Group on Economics, Money and Banking says: “This invaluable guide should be essential reading for anybody wanting to make sense of our economic plight, starting with every one of our MPs.”