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Does the improving UK economy mean that Ed Miliband’s chances of winning power have lessened? In fact improvements in output exist alongside declining incomes. Those with high mortgages benefit from low interest rates but this will change. Currently lower income households and the young suffer most. We have heard about the squeezed middle and One Nation Labour, but it isn’t clear what that means. For a time, Labour’s economic policy seemed to be, “cut a little less.” Now it is, “stick with government targets.” There is little reason to think…

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