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The big growth problem facing whoever wins the election

Amid a vast expanse of rubble, dust and noise, a green crane yanks away at a corrugated roof like a frustrated dentist attempting to extract a particularly stubborn wisdom tooth. Swindon’s Honda factory – once one of the world’s most advanced car factories – is being demolished, three decades after it opened.

This used to be one of the fastest-growing towns in Europe. It was one of the jewels in the crown of investments attracted to the UK by Margaret Thatcher’s brand of 1980s enterprise. Swindon voted for her, John Major, Tony Blair, David Cameron, Theresa May and Boris Johnson. It was also one of the first towns to declare for Brexit, by 55%.

But last year, its council changed hands to Labour. The council has had to continue to accelerate cuts to local services, passing a budget with record cuts in order to stave off bankruptcy.
Inflation, rising care expenses, and central government grant squeezes meant cuts to libraries, the Dial-a-Ride community transport service and dimmed street lights. There has been an almost 5% rise in council tax. The council leader has warned any further cuts will affect frontline services.

What is happening in Swindon is a visible consequence of sluggish long-term economic growth. Government spending cuts, low private investment, deindustrialisation and shrinking disposable income have left scars even on what was one of the UK’s famous boom towns.

Source: BBC

In other news – India win T20 World Cup after thrilling battle with Proteas

India won the T20 World Cup title with a thrilling seven run victory over South Africa in a classic final at Kensington Oval on Saturday.

India

Virat Kohli’s 76 led India to a strong 176-7 but after Heinrich Klaasen blasted a superb 52 from 27 balls South Africa were closing in on victory only to be halted by some outstanding Indian bowling at the end. Read more

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