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Academics condemn Coalition’s economic legacy

Responding to the launch on Monday of Labour’s Business Manifesto – a Better plan for business – 100 business leaders signed a letter attacking Labour proposals, insisting that Coalition austerity policies have benefited the economy.

However, a poll from the Centre for Macroeconomics has shown today that high-profile economists from a range of leading Universities and prominent institutions are much more damning of the impact of the Coalition’s austerity policies on the UK economy.

Two-thirds of the economists polled either disagreed or strongly disagreed with the statement that the Coalition’s austerity policies had had a positive effect on aggregate economic activity in the UK – in short they think austerity has damaged the economy.

When asked whether the general election will have consequences for the economy 77% of respondents agreed or strongly agreed that it would.

Despite the attention given to the views of some big business leaders, this does not reflect the reality of the economic situation and certainly does not speak to the well-being of the whole economy.