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Home News Economics

The broken British economy: a call for urgent reform

An open letter to politicians calling for reform and what is needed to save British economy

Jason Boyd by Jason Boyd
21-04-2025 12:16
in Economics, Opinion
Reading Time: 7 mins read
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Statue of Adam Smith in front of St Giles cathedral representing British economy

Photo by K. Mitch Hodge on Unsplash

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Britain is in the grip of an economic and social crisis. Corporate greed, the relentless pursuit of unsustainable growth, and the misguided attempt to replicate the economic model of the United States have driven inequality to new extremes. The UK, with its smaller population and distinct economic structure, cannot sustain the same policies as a global superpower. Yet, successive governments have followed this path, leaving ordinary people struggling with rising costs, stagnating wages, and deteriorating public services.

The illusion of American-style growth

The UK’s attempt to emulate the US economy is doomed to fail. The United States benefits from vast natural resources, a large internal market, and dominance in industries such as technology, defence, and finance. Britain does not share these advantages, yet policies continue to prioritise corporate expansion over social stability.

As a result, prices have risen rapidly while wages and job security have been eroded. The Office for National Statistics (ONS) reports that real wage growth has been stagnant for over a decade, with inflation repeatedly outstripping earnings (ONS, 2023). Meanwhile, corporate profits continue to climb, largely at the expense of workers and consumers (Unite Investigates, 2022).

The public sector under pressure

With the Labour government now in power for nearly a year, trade unions have regained influence, demanding long-overdue wage increases after years of austerity. However, rather than implementing a strategy for wealth redistribution, the government has instead cut public services and raised taxes and charges, placing further pressure on working-class and vulnerable communities.

The benefits system is failing to keep up. State support increases each April (HoC Library, 2024) based on the previous September’s Consumer Price Index (CPI), yet in a time of fluctuating inflation, this mechanism leaves those on low incomes even worse off. Research from the Resolution Foundation highlights how benefit rates have lagged behind real living costs, exacerbating child poverty and financial insecurity (Resolution Foundation, 2023).

The reality of ‘Shit-Life Syndrome’

One of the most overlooked consequences of this economic crisis is the rise of ‘Shit-Life Syndrome’ (SLS). General practitioners, already overworked and underpaid compared to their financial sector counterparts, are diagnosing more patients with depression and anxiety – conditions that, in many cases, stem from economic hardship rather than clinical illness. Official NHS Digital data confirms that antidepressant prescriptions have reached record levels, not due to an epidemic of mental illness, but as a response to financial insecurity, poor job conditions, and a crumbling welfare state (NHS Digital, 2023).

Instead of tackling the root causes of economic despair, the government’s failure to provide a liveable wage or adequate social support is driving more people into the welfare system. Many find themselves forced to claim disability benefits due to mental health conditions that are, in reality, the direct result of financial distress. In extreme cases, people feel compelled to exaggerate their symptoms just to access enough support to survive. This is not a reflection of individual dishonesty but a damning indictment of an economic system that has left people with no other option.

The danger of welfare cuts and military expansion

Discussions about diverting funds from welfare to expand the defence budget are deeply alarming. The welfare system is already at breaking point. Any further cuts will inevitably result in more deaths, increased crime, and growing social unrest. A government that prioritises military spending over the wellbeing of its own citizens is not strengthening national security – it is actively undermining it.

What must be done?

Without urgent action, the crisis will only deepen. The government must take decisive steps to rebalance the economy, including:

1.   Progressive taxation and wealth redistribution: Higher taxes on unearned income, corporate profits, and financial speculation should be introduced to fund public services and social security (IPPR, 2024).

2.   Real-time inflation indexing for benefits: Benefits should be adjusted in real-time based on actual inflation rates, rather than outdated CPI calculations.

3.   Stronger workers’ rights and job security: Zero-hour contracts must be abolished, and wages should reflect the cost of living. (ACAS, 2023)

4.   Addressing housing and living costs: Stricter rent controls and increased investment in social housing are essential to tackling the affordability crisis. (Shelter, 2023)

5.   Ending corporate price gouging: Regulations must be put in place to prevent essential goods and services – such as food, energy, and housing – from being subject to unchecked profiteering. (CMA, 2023)

The UK economy is in serious trouble. If no action is taken, the gap between rich and poor will widen, unrest will grow, and millions will be plunged into even deeper financial despair. The time has come for politicians to put people before party, right-wing media and profit and take meaningful steps to build a fairer, more stable economy.

To all UK politicians

The poor cannot endure further economic hardship. I urge you to take immediate action to address the rising cost of living, wage stagnation, and the failure of the welfare system.

The electorate will not tolerate further inaction. This crisis is not inevitable – it is the result of political decisions. Change is possible, but only if there is the will to act.

I implore you to treat this as a real-life crisis that affects millions of people. Political loyalty and party strategies should not take precedence over real-world suffering. Too many policies are devised by individuals with no lived experience of poverty, disability, or economic insecurity.

I am 52 years old, autistic, and physically disabled. I have worked in well-paid employment all my life, contributing to the tax system with the expectation that it would provide security should I ever need it.

By choice, I live in Whitburn, a small Scottish town officially classified as an area of high deprivation. The health and societal challenges here are profound. As an autistic person, I struggle with communication and socialising, but I have always been a keen observer of people and an analytical thinker. My mind excels at problem-solving, and the problems I see in our society are glaring.

The system is failing those who need it most. This must change.


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Jason Boyd

Jason Boyd

Jason Boyd is a 52-year-old writer and freelance WordPress Developer from Whitburn, Scotland, who brings analytical thinking and lived experience to his economic and social commentary. As an autistic and physically disabled observer with a professional background spanning decades, Jason offers unique insights into the challenges facing Britain's most vulnerable communities. His writing examines the consequences of economic policies on everyday lives, with particular focus on inequality, the welfare system, and the need for sustainable reform. A passionate advocate for those affected by poverty and disability, Jason combines personal perspective with evidence-based analysis to call for a more equitable society. Follow him on Bluesky

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