One of the most widely repeated falsehoods about the British economy is the assertion that it is growing strongly and that the crisis is over.

This is not borne out by even a perfunctory economic analysis but it serves a political purpose.

In the first instance, the assertion was important in order to blunt any criticism of renewed Tory austerity policies, which will begin again earnest with the Comprehensive Spending Review in December.

Now that Jeremy Corbyn has won the leadership of the Labour Party the same falsehood is pressed into slightly different service- with the idea that his policies represent a threat to the current recovery, or are at least unnecessary.

In reality, the extremely limited upturn in output is already giving way to renewed weakness. UK industrial production and manufacturing fell in July.

Source: The economy is not growing strongly | Think Left

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