Many names have been proposed for our pathology: Thatcherism, Reaganism, austerity, Trussonomics. But they are all synonyms for the same ideology, a doctrine hardly anyone in public life can bring themselves to name: neoliberalism. It has dominated decision-making in the UK for 44 years. One result is that the cumulative underfunding of public services is now approaching crisis point, possibly threatening state failure. Wednesday’s autumn statement will do nothing to address it.
Every week, we see another neglected liability emerging: collapsing classrooms, crumbling flood defences, failing tower blocks, overwhelmed hospitals, understaffed social care, spouting sewers, lethal housing. What would it cost to put the country right, to restore general prosperity and a functioning state?
