Posts under ‘Economy’

What is behind Osborne’s move to the centre-ground?

by Phil Burton-Cartledge.

Is the loss of Lord Adonis from the Labour side of the Lords really a coup for George Osborne? Not really. A tsunami failed to erupt from the impact point in the cross benches, sweeping away the shiny new works of our equally shiny new leadership. The political damage is limited because he’s not terribly […]

How Labour should deal with the Fiscal Responsibility Act

by Michael Burke.

Jeremy Corbyn and John McDonnell are frequently in advance of many of their supporters on economic matters, including their supporters in academia and economic commentators. They are correct to argue against permanent budget deficits and in favour of the central role of public investment as the path out of the crisis, identify People’s Quantitative Easing […]

Osborne stirs up more shit in which to bury himself in

by Michael Meacher.

Quietly and surreptitiously Osborne is marking out his pitch for the leadership. The trouble is, it’s thoroughly bad pitch. By denigrating opponents of privatisation he has set his face against the 70% of the population who earnestly want rail re-nationalised, a proportion so large that it must include nearly half who’re Tories. Osborne must assume […]

Escaping “Stockholm syndrom – Stop fessing up to errors Labour didn’t make

by Ann Pettifor.

Mr Osborne’s most striking political achievement, with the connivance of the economics profession and media, is to reframe the debate about the most severe crisis in living memory away from finance and towards the welfare state – identified as causal of the crisis. In reframing the debate he has succeeded in ‘capturing’ some of his […]

The People’s Assembly goes to Labour conference

by Steve Turner.

This year’s Labour Party conference was truly a turning point in the anti-austerity movement. That day when I introduced Jeremy Corbyn on stage at the huge People’s Assembly march in June he was greeted like a rock star- so while many of us were optimistic about how his leadership campaign would unfold over the Summer […]

More than platitudes needed to restore our manufacturing base

by Grahame Morris.

We live in a deeply divided country. The gaps between wealth and poverty have never been so pronounced. We live in a country where financial speculators who gamble with our economy are rewarded with excessive incomes many of us could not make in a life-time. Our economy, politics and public investment are all tailored towards maintaining […]

Despite claims of a recovery, UK productivity is stagnant

by Michael Meacher.

The basic reason why UK wage growth has been virtually flat for a decade, at a level still 6% below pre-2008-9 levels, is Osborne’s relentless squeeze on benefits, tax credits, low pay and public expenditure. But there are two other very important contributory causes. One is that the proportion of our national income which we […]

Osborne is beginning to make some serious mistakes

by Michael Meacher.

Osborne has always had an overweening arrogance as he plots his path to the premiership before 2020. But his calculation is beginning to desert him. It is extraordinary that he has spent a week sucking up to China, accompanied by six ministers in his retinue, when everyone else is fleeing the country as being in […]

Northern Powerhouse – The gap between reality and rhetoric

by Grahame Morris.

There is no better illustration of the gap between the rhetoric and reality than the Government’s failure to support our steel industry. The UK steel industry is in crisis. While George Osborne was in Shanghai this week selling the UK energy sector to the Chinese Government, steel production on Teesside could come to an end […]

Corbynomics and balanced budgets

by Andy Newman.

It has been a stormingly successful two weeks for Jeremy Corbyn, and for the Labour Party. We have seen membership growth, not only more members, but a membership more representative of the broader population, younger and more gender balanced. We have a majority of women in the shadow cabinet for the first time ever, we […]

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