These Charts Show Why Brits Are Furious About Austerity – Bloomberg

Conservative Party (UK)

Conservative Party (UK) (Photo credit: Wikipedia)

Bloomberg highlights that Theresa May promised Northern Ireland a billion pounds and now the tide of public opinion is turning against her cost-cutting policies. The evidence provided by Bloomburg shows simple evidence, trended over time. I welcome the return of evidence in the mainstream media.

Source: These Charts Show Why Brits Are Furious About Austerity – Bloomberg

Under Cameron and May, plus their weak finance ministers, the UK missed an opportunity but worse got it wrong.

With Labour as the new conservatives propping up social welfare and big government, despite increasing evidence that socialism has failed, the Conservatives could have become the new reformers, embracing radical reform of the public sector. Over the last five years, John Gelmini and myself have repeatedly highlighted on this blog a strawman of policies for radical reform. But the Conservatives lacked the stomach to do what was right.

Instead the Conservatives chose extended austerity, applying the bacon-slicer to central and local government. As we have advised many time, this was never a strategic solution. As we predicted, the quality of public services collapsed and there has been limited underlying reform. Now the public are rightly tired of the ‘austerity’ medicine and they’re beginning to smell a very large rat on Brexit.

It’s clear that the Conservatives have abandoned the millennial generation. Thanks to the Conservative Party Manifesto 2017, and especially the ‘Dimentia Tax’, the Conservatives have lost the confidence of older voters too.

With enormous downside risks from three directions, Brexit, the economy and the threat of a Marxist government in the UK, the 1922 Committee needs to intervene and replace Theresa May with an effective leader, who will appeal to young people.


Theresa May under pressure as DUP says: ‘Show some respect’ | Politics | The Guardian

Here’s an insightful article from the Guardian. It argues that Brexit will dominate Queen’s speech shorn of controversial social policies after Conservatives fail to secure deal.

Source: Theresa May under pressure as DUP says: ‘Show some respect’ | Politics | The Guardian

The Guardian clarifies:

The DUP deal is likely to be one of “confidence” (through which the party will back the Queen’s speech and support the government in any confidence votes) and “supply” (referring to support for budgets and financial measures).

Importantly, the article suggests that it won’t just be Theresa May that’s weak and wobbly but the Conservative Minority Government, possibly with a confidence and supply arrangement with DUP. So we have a weak and wobbly Conservative Government until the next election. Even if May’s replaced, the new leader will be wary of calling an election and risk losing.

Let me try to spell out the consecequences;

  1. Still a chance that DUP won’t support the Queen’s speech, triggering a minority government or in worst case an election
  2. Conservatives will be very dependent on parliament to support Brexit, increasing pressure for a soft Brexit
  3. With no social policies, the public sector likely to suffer further service degradation
  4. Tax increases likely to offset impact of Brexit and downside risks from further austerity cuts