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Blair’s golden age?

New Labour has combined growth with social protection. It's a lot better than the 1960s

By Julian Le Grand   July 2007

I was walking with my 23-year-old daughter on London’s South Bank the other day when she asked me whether I had ever lived in a “golden age.” I immediately recalled the 1960s, when all the world (and I) was young and full of vivid colours and beautiful people.

But then I remembered my studies as an economics undergraduate in the 1960s. These were dominated by the travails of the British economy: big balance of payments deficits, sterling crises, GDP per head below that of most countries in western Europe and falling back on most social indicators too. A little later,…

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