Posts under ‘Earnings’

Labour views economy through the wrong end of a telescope

by Ann Pettifor.

“There is no path to growth and prosperity for working people which does not tackle the deficit”. So said Ed Milliband last Thursday. The Labour leader has finally succumbed to a baying media pack that insisted he commit himself to an economic goal set by Labour’s opposition: namely “tackling the deficit.” I am no politician, but […]

Inequality is booming – top pay needs a ceiling

by Michael Meacher.

This is an abridged version of the speech Michael Meacher made to the House of Commons on Thursday calling on the Government to set guideline targets for remuneration which over time reduce the ratio between top and bottom incomes in large organisations to no more than 50 to 1. The excesses of extreme inequality are increasingly […]

Economic recovery failing working people

by Grahame Morris.

In 2010, the Tories promised to make work pay. Today, they are hailing the economic recovery, growth revised up and record numbers of people in employment. The economy is certainly working for those at the top. A top rate income tax cut has coincided with the return of bankers bonuses and above inflation increases in […]

Pandering to xenophobia is rooted in an acceptance of austerity and recession

by Kate Hudson.

Many on the left will be dismayed by the furore surrounding Emily Thornberry’s recent tweet. Whatever the thinking behind the posting of the image, the reality is that the Labour leadership’s subsequent actions have come to symbolise the latest shameful stage in the race to the bottom over immigration. How the Labour leadership has allowed […]

The way back from Rochester, Strood and austerity

by Michael Meacher.

Mark Reckless’ UKIP victory over the Tories serves notice on all the parties. The Tories, having sworn to “throw the kitchen sink” at retaining it in Cameron’s words he must now regret, see a near-10,000 Tory majority in 2010 turned into a 3,000 (7.3%) UKIP lead. Labour, which never had a chance of winning, loses nearly […]

What do Britain’s private sector firms contribute?

by Michael Burke.

The main factors that account for economic growth are increases in the workforce or in the amount of productive capital in the economy. A far smaller contribution is made by improvement in productivity as a result of innovation. Since mid-2009 the British economy has grown. But this is wholly accounted for by growth in the […]

Strip the private banks of the power of money creation

by Michael Meacher.

The House of Commons held a very important debate this last week on the creation of money, a process which the Big 4 banks have monopolised and thus privatised the money supply.   The abuse of this power over the last 3 decades has been enormous, and I used this debate to propose an entirely […]

Workers of the world unite against the new generation of trade deals

by Adrian Weir.

David Cameron’s ringing endorsement at the G20 of the proposed EU-US trade deal, the Transatlantic Trade and Investment Partnership (TTIP), was perhaps predictable but also has opened up the topic of TTIP and its like to greater public awareness. Until Brisbane discussion of this new generation of multi-lateral trade agreements was very much a topic […]

The honeymoon is over for Italian PM Mateo Renzi

by Tom Gill.

Thousands took to the streets of Milan and other cities on Friday in the first of union-led protests that will culminate in a general strike next month. At issue is the government’s labour counter-reforms that will make it easier for firms to fire workers, adding to the growing ranks of the precariat in the Eurozone’s […]

The Labour market determines pay based on power not fairness

by Michael Meacher.

What is an employee worth? Whatever the market pays is the conventional answer. But the market is not based on merit or justice, it’s based on power relations. Those who have the power will exert it to get more and more, while those who have little or no power will get squeezed and pushed down […]

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