Thanks for this article that summarises nicely a major driver of inequality in the UK (and elsewhere).
But let’s not forget that it was the deregulation initiated by Margaret Thatcher, and continued by Tony Blair’s New Labour, that allowed the financial crisis to happen.
Not to mention the steady reduction in the number of the council houses.
re Tony Hairpin comment, financial crises are usually international. Sub-prime housing loans in USA triggered 2008. I don’t know whether deregulation in UK interacted with sub-prime. So let’s not blame anyone till we know.
Thanks for this article that summarises nicely a major driver of inequality in the UK (and elsewhere).
But let’s not forget that it was the deregulation initiated by Margaret Thatcher, and continued by Tony Blair’s New Labour, that allowed the financial crisis to happen.
Not to mention the steady reduction in the number of the council houses.
re Tony Hairpin comment, financial crises are usually international. Sub-prime housing loans in USA triggered 2008. I don’t know whether deregulation in UK interacted with sub-prime. So let’s not blame anyone till we know.
Thanks for your comment but even at the time, there was general consensus as to the part that deregulation and free market policies played https://www.theguardian.com/business/blog/2008/oct/14/creditcrunch-thatcher-reagan
Jack,
You are obviously an ex Treasury man by your obfuscation by detail !
What am I obfuscating in this piece?