What happened to the UK economy? 5 charts break down the key election issue
CNN
When UK voters elect a new government on July 4, the health of the world’s sixth-biggest economy will likely be the main factor in deciding the outcome.
When UK voters elect a new government on July 4, the health of the world’s sixth-biggest economy will likely be the main factor in deciding the outcome. The Conservative Party of Prime Minister Rishi Sunak has been in office since 2010, a period that has included the twin shocks of a pandemic and war in Ukraine. But the United Kingdom has also been held back by two self-inflicted wounds — deep austerity in the wake of the global financial crisis and the 2016 decision to quit the European Union, which raised new barriers to trade. Economic growth has been anemic in recent years, squeezing living standards and starving public services of funds. Sunak and Keir Starmer, the leader of the opposition Labour Party, face off in their first televised debate late Tuesday. The stakes are high. Opinion polls suggest the Conservatives are set to be booted from office, with Labour on course to win a UK election for the first time since Tony Blair took the party to victory in 2005. Sunak will likely point to falling inflation and a strengthening economy as proof that his plan to “restore economic stability” is working. But many households are still experiencing a cost-of-living crisis and are struggling to pay their bills. And the state of the overburdened National Health Service comes in a close second among the biggest issues for the electorate, according to polling by YouGov.
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