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In a brilliant piece in the Guardian, Ha-Joon Chang comprehensively demolishes the economic ‘recovery’ claimed by the coalition government, dismissing as an ‘economic fairytale’ its claims of success.
UK chancellor George Osborne is using divide-and-rule tactics to try to push through further cuts of around £25 billion over two years by 2017-18. This includes £12 billion in social security reductions. The poorest will be worst affected but, if he gets his way, many others currently struggling to cope with sharply rising prices and rents will be hit.