“The 7 million-plus NHS waiting list, the 2 million-plus fall in the labour force, the world-beating rate of inflation and spiralling mortgage rates are all the result of a succession of bad policy choices made by Conservative Ministers at crucial times in the past 13 years.”
Words of truth and wisdom spoken by a Labour member of the House of Lords last week that you won’t see mentioned in the mainstream media. But the words need to be heard and heeded, which is why you can hear them here.
Professor Lord John Eatwell is an economist with a PhD from Harvard. He was until recently president of Queens’ College Cambridge and Professor Emeritus of Financial Policy in the Judge Business School.
He entered the House of Lords in 1992 where he was Labour’s frontbench spokesperson for Treasury and Economic Affairs.
So, Professor Eatwell knows his stuff on economics.
And this is his conclusion of what’s happened during 13 years of Tory rule:
“In the face of every major shock suffered by the economy over the past 13 years, the Government have time after time taken the wrong decision. In every case, misguided government policies damaged investment, growth and productivity.”
The government is continuing to make policy mistakes, said Lord Eatwell.
For example, Chancellor, Jeremy Hunt, has stated, “We have to do everything we can as a government … to squeeze inflation out of the system”.
But Lord Eatwell responded,
“While the Government tighten their hands around the throat of the British economy, has the Chancellor not noticed that the inflation rate in France is just over 5 per cent and falling and in Spain just over 3 per cent and falling?”
Lord Eatwell explained:
“Both the French and Spanish Governments have deliberately targeted support notably on food prices and on the lowest wage earners. In doing so, they weakened the damaging link between the first round of food and energy inflation and the second round of wage inflation.”
The economics professor added, “By contrast with the French and the Spaniards, Jeremy Hunt is determined to squeeze working people into accepting a lower standard of living, whatever damage may be done to investment in growth.
“This string of bad decisions, from austerity to EU trade, to fiscal incontinence, to squeezing the economy, has undermined investment and growth for the past 13 years.”
Watch the 7-minute extract of Lord Eatwell’s speech. And just as importantly, please share, share, share.
This is a seminal lecture on the enormous damage caused to Britain over the past 13 years by the Conservatives, and it is so vital that everyone in the country understands.
Link to Lord Eatwell’s full speech: https://www.theyworkforyou.com/lords/?id=2023-06-29b.855.2
𝗝𝗼𝗻 𝗗𝗮𝗻𝘇𝗶𝗴 is an independent campaigning journalist and film maker who specialises in writing about health, human rights, and Europe. He is also founder of the information campaign, Reasons2Rejoin
