The Coalition is to blame for problems with the economy


Speakers at the National Demonstration for Gaza in LondonIt is helpful that Mr Cameron has finally noticed the extreme fragility of the global economy, if only belatedly, but what’s clear from his remarks is that he’s trying to lay the blame for the failures of his own government in any place but the right one.

Voters will no doubt recall that this government came into office promising to ‘rebalance’ our economy, away from the financial sector and back towards manufacturing – a move that would have required substantial investment in the real economy, rather than cash flowing into financial and property speculation.

That has not happened; the UK’s rate of investment is comparable to El Salvador’s, and the financial sector has debts totalling 1,300% of GDP.

Furthermore, the government has utterly failed to rein in the excesses, the fraud, management and risk-taking of the bankers, as the massive fines for market rigging this week demonstrated

The Green party says this has to end. We need to slash the size of the financial sector and see that it serves the needs of a boosted real economy that manufactures the goods and grows the food that we need, providing jobs that workers can live on, and homes they can afford. That would also reduce our exposure to the international economic, political and military turbulence.

Natalie Bennett

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