United Kingdom : Declining standard of living triggered the decline of the Tories in the UK
06/14/2017 | 06:09 am
Why did the Tories, led by Theresa May, lose the election?
All reasons are good but one prevails. The most recent statistics on British economy just came out. The inflation rate in the UK gets up to almost 3%.
The revenues, especially those of the working and middle class are falling. The latest figures show that the differential may reach 5%. That is the addition of inflation and loss of revenue.
Thatís enough. And the British voters said it very clearly. The most hit by both phenomena, the young working people 20-35, switched massively and voted for Labour under Mr Corbin, have led the way.
This purely British situation, added to the havoc which will rule the kingdom for the next few years with the Brexit negotiations and difficulties, is definitely a bad omen for the country. And not for Europe, as many would like us to believe.
© The Finance Foundation 2017