Sunday, 28 February, 2010
 | Are you better off than you were five years ago? |
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New analysis has revealed that GDP per capita has fallen since the last general election. The UK now produces £281 less per person in real terms than at the last election. This is the first time in recent history that GDP per capita has fallen over a full parliament. The only other time output person has fallen over a parliament was during the short-lived 1974 Labour parliament
So when people ask the famous question ‘are you better off than you were five years ago?’ Gordon Brown is the first Prime Minister in modern British history who has to answer ‘no’.
Labour’s 2005 manifesto promised ‘increased prosperity’. That is the biggest broken promise of all. Even through the dark days of the 1970s and the recessions of the early 1980s and 1990s the growth of GDP per capita was sustained in every full Parliament.
This shows that the debt-fuelled model of growth that Gordon Brown pursued for the past decade is fundamentally broken. Gordon Brown’s debt is the single biggest threat to our economic future. We cannot afford another five years of Gordon Brown. We need a new economic model built on saving and investment under the Conservatives.
Richard
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