Don’t believe the GDP hype: British capitalism is circling the drain
Bank of England in the City of London
SEEING today’s headlines on economic growth figures in the ruling-class and state media, you would think that Britain had just entered a period of economic boom, unprecedented for decades.
But as working people can plainly see from their daily lives, that couldn’t be further from the truth.
The just perceptible 0.6 per cent rise in GDP might be enough for Tory spin doctors to harp about exiting recession in the run-up to the general election, but it means nothing for working people who continue to be ground down by stagnant wages and the spiralling cost of living.
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