The electoral success of a political party depends on many factors. But the most important one is the correct reading of domestic developments and how they are connected to global economic and political trends. Parties must understand both of these environments when developing their campaign strategies.
The British economy is characterised by the dominance of financial services and the crisis of the welfare state. Underpinning this has been 40 years of neoliberal British government policy, promoting privatisation, deregulation and competition. The manufacturing sector has shrunk to just 11% of GDP.
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