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The Coalition’s Accumulation Strategy

  • Scott LaveryEmail author
Chapter
Part of the Building a Sustainable Political Economy: SPERI Research & Policy book series (SPERIRP)

Abstract

The Coalition government came to power in 2010. It promised to eliminate Britain’s budget deficit within one parliament and to ‘rebalance’ the British economy. On both counts, it failed. The Coalition’s pursuit of austerity prolonged the economic downturn, constrained tax receipts and undermined deficit reduction. When growth returned, it was driven by falling savings, rising consumption and growing imports. By the end of the 2010 to 2015 parliament, the Coalition had effectively re-established Britain’s dysfunctional model of privatised Keynesianism. Deep structural weaknesses in British capitalism endured.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Sheffield Political Economy Research Institute (SPERI)University of SheffieldSheffieldUK

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