Austerity has been failing as an economic idea for years. The result of the general election shows that it has now failed politically as well. Deficit reduction continues, but will no longer dominate the agenda. Theresa May’s failed gamble marks the end of a seven-year experiment.
A five-point plan to bring about a Labour victory – and soon Paul Mason Read more Both the 2010 and 2015 elections were fought on ground of the Conservative party’s choosing. David Cameron and George Osborne made sure the debate was about which party could be trusted to balance the books. Yet over the past seven weeks, deficit reduction has barely featured. In part, that’s because the Conservatives proved incapable of hitting their own targets. But more importantly it was because Jeremy Corbyn and John McDonnell made the election about investment in schools and the NHS, and the impact of cuts in the police budget on the fight against terrorism.
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