Britain's 1970s retread

THE strange 1970s revival in Britain has another twist. The main focus has been on the Labour party which, under Jeremy Corbyn, wants to return to the era marked by nationalisation and higher taxes. But in a sense the Brexiteers want to take Britain back to the 1970s too; to the "golden era" before 1973 when the country was outside the EU. 

In fact, the early 1970s were marked by strikes, power cuts and rapid inflation. They were presided over by Edward Heath (pictured left), the prime minister whose main achievement was to take Britain into what was then the European Economic Community. And it is striking how many similarities he had with the current prime minister, Theresa May (pictured right).

Both PMs were/are (Heath died in 2005) loners with few friends in the party and rather "buttoned-up" personalities. Both were uncomfortable on the campaign trail, finding it hard to connect with voters. Both talked of relaunching their party's political philosophies but struggled to turn their principles into practical...Continue reading

from Business and finance http://www.economist.com/blogs/buttonwood/2017/11/politics-and-economics?fsrc=rss