Cast your mind back 10 years. Survey the political scene. What can you see?
The Labour Party has been in power for 11 years. And it seems to be winning the big argument. The new leaders of the Conservative Party, David Cameron and George Osborne, have stopped calling for tax cuts and are instead pledging to match Labour’s public service spending plans. “Sharing the proceeds of growth” is the mantra.
Survey the economic scene. What’s going on there? Well, there’s much talk on the business pages of newspapers of a somewhat mysterious “credit crunch”. Northern Rock went under the year before. House prices are down. The stock market is looking a bit sickly. The economy seems to be slowing.
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