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Summertime. And the living is easy

Article Abstract:

Base interest rates in the UK are now 5.75%, following a 0.25% reduction by chancellor Kenneth Clarke. Some observers feel that this is part of plans by prime minister John Major to be in a position to call a general election unexpectedly in autumn 1996. He would expect to gain support from people who welcome tax cuts and from those who are opposed to the European Union. Various statistics indicate that the economy is performing well, with retail sales rising for the eighth consecutive month in May 1996 and new car registrations rising by 8.5% in the same month from the year-earlier period.

Interest rates

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Yes we are better off now, but there's been a price to pay

Article Abstract:

The UK's Conservative government has given considerable attention over recent years to putting right the economic mistakes made by previous Conservative administrations. However, voters have generally been very unwilling to recognize these efforts, and still clearly remember disasters such as the exit from the Exchange Rate Mechanism in 1992. The Conservatives' most significant economic policies were implemented in the 1980s, rather than the 1990s, and this will also go against the party. Furthermore, economic growth has created greater inequality.

Column, Economic policy

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If only the politics were right

Article Abstract:

The UK Conservative party is trying very hard to emphasise the country's positive economic conditions, especially the fact that unemployment has fallen to less than 2 million for the first time in almost six years. However, deep divisions within the party over Europe are diverting voters' attention from the government's achievements. Chancellor Kenneth Clarke has openly challenged Eurosceptics in the Conservative party, stating that it is not possible to be economically linked with the European Union but politically independent.

Political activity, International relations, European Union, British foreign relations

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