David Cameron. Theresa May. Boris Johnson. Liz Truss. Rishi Sunak. Keir Starmer. Andy Burnham?
Britain is heading for its seventh Prime Minister in the last decade. Prior to David Cameron, Britain’s previous seven Prime Ministers spanned from Ted Heath in 1970 to Gordon Brown in 2010. Forty years of, what is now looking like, stable leadership. The pressure is on our politicians and not just from the public. Bond markets haven’t exactly been too happy either.
Much has been made, on both sides of the spectrum, as to whether they are right to inflict political pressure. The fact of the matter is we, as a country, have been totally unconvincing in getting our deficit under control, what we spend the money we borrow on and to encourage any meaningful economic growth.
Now, should we get Burnham he has been forced to say he will stick to Rachel Reeves’ fiscal rules. This somewhat calmed fear in certain quarters but can we trust politicians to do what they say anymore?
Unconvincing Growth
UK economic growth between 1979 and 2007 was roughly 2.50% per annum compounded (ONS*). Since 2007 that figure has more than halved to 1.15% (ONS^). Now there have been some shocks in that time but it is not like it was all plain sailing before then.
Seven PM’s in 40 years to seven in 10 years.
There is no way any PM can build up sufficient momentum to make any sort of impact if we continue with short termism. Britain needs some stability and now questions will undoubtedly be abound as to whether the upheaval caused by the last two budgets will be cast aside and, if we see a new chancellor also, we will see further uncertainty ahead.
We need a long term, cross party strategy for Britain for the good of the country and all of those living here. Consistency in spending priorities, taxation and image projection with a real plan for growth.
Andy Burnham needs to use some of his political capital for the good of the country. If he sees out the remaining term of this Parliament though, will he be in a position to win the next election? He will need to act swiftly (and with style).
* https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/abmi/ukea
^ https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/abmi/pn2
