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Economy: What recovery?

This is what capitalist economic recovery looks like. Our GDP per head is still lower than it was in 2008. At today’s prices, the average weekly wage was £540 in 2008, now it is £480. Real wages have been cut by 10 per cent since 2010. The national debt was £580 billion in 2007, £1.4 trillion now.

The eurozone contracted by 0.7 per cent in 2012, 0.4 per cent in 2013. The EU’s economy is still 2 per cent smaller than it was in 2008.

In 2013, Britain’s trade gap in goods was a record £110 billion. Meanwhile, our annual trade deficit with the EU soared from £28.5 billion in 2010 to £56.5 billion in 2013.