lowtax speedrun enjoyer: already knew this but still these charts are wild

already knew this but still these charts are wild

The Financial Times has backed the only economically sane option in the UK's imminent general election: A vote for Labour. These 4 graphs say it all. The historically inescapable fact is that 14 years of Tory govt, driven mad by Brexit, have been a disaster for UK prosperity. on.ft.com/4eHFChN

Especially when you realize the Y-axis is log scale

I thought I saw a number recently that said the tories have cost the average family £30,000. Seeing this charts I can't believe it's not more.

I was looking at jobs in the UK not too long ago and even accounting for the safety net, everything pays poverty wages

i wouldn’t say poverty wages but i’ve looked and it is…striking

Yeah, I'm exaggerating of course. But I've gotten used to a certain standard of living and taking the same job in the UK would result in legitimately something between 2/5 to 1/2 the pay, again even account for healthcare and stuff. It's awful.

Brits come on here a lot and yell about how well akshually the economy is bad no matter what the graphs say and I genuinely think they're just unable to grasp how bad things are in the UK specifically

same. pay for similar jobs was probably about 20-30% less in raw dollars but then you take london (where all the jobs are) costs into account and woof

I had a similar experience looking for similar jobs near Edinburgh to what I have in the DC area, it was an eye opener

Isnt lot scale the correct way to show this data?

if you don’t want the chart to be a fold out/taking the piss yeah

Yeah, otherwise the trend line would feel arbitrary. It's just that "we spent ~15 years with no appreciable growth" is actually extremely costly because the opportunity cost is all compounding

I.e. log linearizing so you can show the growth trend as a line (good choice) masks just how costly the last 15 years have been by compressing the top of the graph

14 years of basically zero economic growth from what used to be one of the largest economies in the world

Oh my god. We would be deep in a second civil war.

Am I reading it right that the Great Depression in the UK was more like a run of the mill recession? That’s crazy if true.

it’s log scale so even little dips earlier are really bad

In 2023, the per capita GDP of Great Britain was US$49,791. Only 9 US states had lower GDP: Kentucky, Oklahoma, Montana, So. Carolina, Idaho, Alabama, Arkansas, W. Virginia, and Mississippi.

Post