Posts under ‘Macroeconomics’

Why does Labour stick to Tory austerity plans the stats show can’t be achieved?

by Michael Meacher.

Osborne’s boast that he would shrink the welfare state to its small scale in 1948 has been definitively scuppered by a report from the Office of National Statistics (ONS). These official figures reveal that there are at least 6 major areas of public expenditure which are currently escalating rapidly and make it impossible to reconcile […]

Why most people are getting poorer

by Michael Burke.

Most people in Britain are getting poorer. For obvious reasons, the government and supporters of austerity would prefer not to discuss this fact. Yet in the strained language of the Labour right, there has also been a clamour for Ed Miliband to ‘change the narrative’ on the economy by no longer talking about the cost […]

The economic contradictions of Mr Miliband

by Ann Pettifor and Jeremy Smith.

There is much to welcome in Ed Miliband’s address last Saturday to the Labour Party’s national policy forum. For example, his argument that Britain suffers from a low-pay economy. While the number of those in employment has grown, real pay has fallen dramatically over the lifetime of the present government. At PRIME, we calculated the fall in real […]

Trade unions vote against ending austerity in 2015

by Jon Lansman.

The climax of Labour’s formal policy process this weekend which had involved 1,300 amendments from local parties to eight policy documents, filtered down and composited by 77 regional representatives, was a debate on austerity. That’s fitting given that it is the foundation of the Coalition’s disastrous economic policy and, unfortunately, in a lighter version, of Ed Balls’s approach too. […]

Labour’s approach to central austerity question is still badly flawed

by Michael Meacher.

The biggest issue at the coming general election will be how the deficit is to be handled over the next 5 years. The Tory proposal is to continue with the cuts till 2018-9 by which time they claim the structural deficit will have been eliminated. Their real and stated objective is to have continued with […]

EU, the Grand Coalition and austerity. Where does Italy’s Renzi stand?

by Tom Gill.

The choice of Juncker as the next president of the European Commission is in total continuity with the harmful policies of rigor imposed in recent years by the Troika. The Italian prime minister on the one hand seems to beat his fists against the diktats of Berlin, on the other hand make us believe – […]

In response to Michael Meacher: what Labour narrative?

by Mike Phipps.

There my be an element of wishful thinking in Michael Meacher’s recent post on Left Futures, A clear Labour narrative is emerging, but key gaps need filling.  A few good policies, such as the repeal of the bedroom tax or an energy price freeze does not constitute a narrative. In fact, without such an over-arching […]

Support the 10 July strike

by Owen Jones.

This Thursday (10 July) the government is facing the largest public sector strike since 2010. Pay freezes and below-inflation pay rises have reduced public sector workers’ pay by 20% since the coalition came to power in 2010, public sector pensions have been attacked and public services have been slashed across the country. So members of the […]

A clear Labour narrative is emerging, but key gaps need filling

by Michael Meacher.

You could almost write the Labour manifesto now, except that there’s a great deal more to come later this month as well as in the run-up to the election. It can be grouped under certain headings: Protecting living standards A Living Wage (£8.80 in London, £7.65 elsewhere), encouraged by incentives to business and enforced if […]

Len McCluskey warns now is not the time for heated arguments about Labour policy

by Jon Lansman.

Opening Unite’s policy conference in Liverpool today, Len McCluskey’s planned speech ranged across issues from the severity of Tory attacks on working people and their families (as well as on Unite itself) to the importance of electing a Labour government and the menace posed by UKIP. But for Labour and union activists keen to use Labour’s policy process to […]

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