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The average British voter takes little interest in economics as a subject, being fully occupied with the economic realities of their lives.
All three main UK political parties now base their economic arguments on a premise which has come to be accepted as truth, but which may be false. The premise is that ‘there is no money left’ and this is used to justify austerity. We don’t want to cut, the argument goes, but there is no money left, so we have to make difficult decisions.
Cyprus has a special place in my heart, as I spent many years living there as I built up my professional legal, and later ecumenical, career.
There is an idea gaining ground in the US which sounds absurd, but which perhaps simply highlights the absurdity of something we now consider normal.
On the eve of the local elections, some extraordinary remarks by a Minister probably got less attention than they deserved.
Defence Secretary and multi-millionaire property developer Philip Hammond tried to shift the blame for the financial crisis in the direction of ordinary UK households, saying, ‘the banks had to lend to someone’ and the people who took out loans were ‘consenting adults’.