Posts under ‘Macroeconomics’

£12bn more cuts will crucify poorest in society and are not necessary

by Michael Meacher.

So the Tories are able to tell us that Labour plans to cut the deficit (which they have never seen) will increase costs by precisely £3,028 per household, a figure now definitively rubbished by the Institute of Fiscal Studies and which the Tory party chairman has now admitted is mere “guesswork”. Yet they can’t tell […]

Cameron’s bad day: with more ‘victories’ like this, he’s sunk

by Michael Meacher.

Any objective person watching the Cameron-Miliband TV duel (although it was faux because Cameron was too frit to submit himself to a direct face-to-face contest with Miliband) could be in no doubt that Miliband won. Unlike Cameron, he didn’t get flustered or rattled, and he projected himself more strongly both in personality and on policies. […]

Extreme and dangerous Tory spending cuts

by Grahame Morris.

The Chancellor’s final budget was less than twenty hours old before Liberal Democrat Treasury ministers tried to disown it by presenting an alternative ‘yellow’ budget, before abusing parliamentary privilege to deliver it as a ministerial statement. However, no matter how many budgets the government presents none of them can hide from the fact that the Coalition […]

Osborne’s boasts were lies – his was not a budget for a prosperous Britain

by Michael Meacher.

The truth finally came out. Osborne claimed that the deficit was being cut this year when in fact that is only due to the exceptional delaying of tax payments till the end of the fiscal year by the super-rich in order to take advantage of the reduction in the top income tax rate to 45%. […]

Austerity has failed everyone but the rich

by Newsdesk.

The following letter signed by trade union leaders, MPs, campaign activists & economists which appeared in the Guardian, has called for the biggest mobilisation possible against austerity at the People’s Assembly national demonstration on Saturday 20 June: In what we hope was his last budget, George Osborne made a series of false claims about his […]

Tectonic plates shifting in world power structure are signs of a new world order

by Michael Meacher.

Something has just happened which got hardly any attention in the media, but which is very important. The recent setting up by China of the Asian Infrastructure Investment Bank may not seem likely to excite the passions, but it should. For this is clearly an intention by the big Asian powers to challenge the World […]

Austerity and economic failure to continue

by Michael Burke.

The Tory election campaign is based on the claimed success of the government’s economic policy, as the hype around the latest budget confirms. In reality the Tories’ economic record has been unprecedentedly poor. Their economic policy is not primarily aimed at increasing growth or prosperity but rather at effecting a fundamental change in the economy […]

If you are going to tell porkies, tell big ones

by Dave Watson.

If you are going to tell porkies, tell big ones. That seemed to be the Chancellor’s strategy in yesterday’s budget. It was as if the past five years didn’t happen. The worst fall in real earnings in recorded history a total fall of 7.9% and even this is on the basis of the lower CPI […]

Osborne’s claim of a let-up in austerity in next 5 years is a lie

by Michael Meacher.

George Osborne didn’t deliver a budget yesterday. He delivered a party political broadcast on behalf of the Tory party in which analysis of the macroeconomic state of the economy, which is the real purpose of budget statements, was almost totally absent. Osborne’s speech yesterday had two aims. One was to give the impression that the […]

George Osborne’s core vote budget

by Phil Burton-Cartledge.

I don’t know where this idea originates from but apparently, at least in Conservative Party circles, George Osborne is considered something of a political genius. Then again, among his people, Michael Gove is thought of as an “intellectual”. So we’re talking a very low bar here. Yet wanting to see the best in everyone, I’ve patiently […]

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