05/15/2013 09:16 am ET

Brits Are Now Poorer Than The French, Swiss, Belgians, Swedes, Austrians, Aussies And Canadians


Between 2005 and 2011 British household incomes have tumbled below those of rich-nation counterparts in Switzerland, Australia, Austria, France, Canada, Belgium and Sweden, according to a new analysis from the UK’s Office of National Statistics. Despite some decent recent news on industrial production, the UK economy remains quite weak. And critics lay the blame squarely at the feet of David Cameron’s conservative-led government. When elected in 2010, Cameron became a global standard-bearer for those who argued that what was needed in the aftermath of the financial crisis and Great Recession was belt-tightening rather than the fiscal stimulus of the kind once prescribed by John Maynard Keynes.

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