Parties battle over economic strategies

With the 2015 General Election now less than six weeks away, attention has turned to the main political parties’ economic strategy. As always the debate will have a crucial influence on who ends up in power.

David Cameron has claimed that his government are running on a “record of economic success”. A key part of his pre-election rhetoric has centred on warning of the risks involved in handing the country’s economic recovery over to the Labour Party. He has urged voters to remember Labour’s record of high borrowing while in office, something which Cameron insists would be disastrous for Britain’s economy should it happen again.

Labour meanwhile have hit back by claiming that the Tories’ pledge to clear the deficit will have a detrimental effect on social services. Ed Miliband has promised that contrary to the prime minister’s claims Labour will not need additional borrowing should they form the next government. Miliband has also made headline grabbing economic pledges such as raising the minimum wage to £8 an hour and banning zero hours contracts.

With Britain’s economy growing in 2014, the debate centres around who is the best party to manage the tricky balancing act of reducing the deficit while maintaining growth for 2015 and beyond. Voters face a choice as to whether they trust David Cameron or Ed Miliband with this proposition. With the election campaign now beginning in earnest, there are sure to be many twists and turns before the nation goes to the polls on 7th May.

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One thought on “Parties battle over economic strategies

  1. One of the items on the battle agenda will be HE funding. This will be an interesting one, and many HEIs will keep their eyes peeled for the outcome. Labour suggests a cut in university fees, which in line of principle I would welcome. However, cutting fees might not be the best solution right here and right now: We are dealing with a HE funding system that is already at strain. Increasing evidence demonstrates that the system as it stands is not sustainable in the long-run (everybody is borrowing, but very few are paying back!) For how shocking this might sound, £9K does not cover the full-cost sustained by the average HEI per student. So, how will we make up for the difference after a fees cut? Who is going to top it? The best solution would be to review the whole HE funding scheme, but surely no party will want to commit to do that. Best relying on voters’ myopia and campaign for a quick fix!

    Liked by 1 person

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