Interview with Ann Pettifor: They think it is all over

Ironically politicians have believed that accepting the economics of austerity is central to being seen to be competent by the wider public. They are still drawn to Thatcher’s picture of the UK as a household and balancing the books. Many economists see this as economic illiteracy with notable exceptions such as the influential Institute for Fiscal Studies who pronounce on the budget.

The Mint talks to Ann Pettifor about Labour’s attempts to forge a reputation for economic competency on the basis of “new economics”. What does it mean for them and has it worked? Can Labour escape the balancing the household books narrative? Is austerity economics really over?