Posts under ‘Macroeconomics’

Time for the low inequality, high performance alternative from Labour

by Bryan Gould.

There is no novelty is arguing, as George Osborne does, that there is no alternative to his destructive and divisive policies of austerity – TINA was, after all, the Thatcherite catch-cry and as misleading in her day as it is today. But it is surely stretching credulity too far to suggest, as John Harris did […]

Playing the neo-liberals game

by Bryan Gould.

The advice offered by some of its leading thinkers that Labour should switch the focus away from the role of central government and towards a greater devolution of power to the regions and communities has a fashionable ring to it.  But it is another, perhaps unwitting, admission of the left’s damaging loss of intellectual self-confidence. […]

Signs grow that recovery is fading before it even got under way

by Michael Meacher.

The fall in anticipated government revenues, just announced, must send alarm bells to anyone who still believes that the current economic uptick is going to go anywhere. The OBR had predicted that government revenues in the 2014-5 tax year would reach 38.8% of national income. They have been progressively revising down their forecasts to as […]

Investment, not Trident

by Michael Burke.

The Campaign for Nuclear Disarmament has produced a new pamphlet, People Not Trident. It argues against the colossal waste of funding needed to a replace the Trident nuclear weapons system. It makes the case that the £100bn saved could be used to invest in a whole host of sectors, housing, education, international development, the switch to renewable […]

Benneconomics – a tribute

by Andrew Fisher.

I got to know Tony Benn well when I worked as a researcher to the Socialist Campaign Group of Labour MPs in the mid-2000s. I’d first met him when he was about to stand down from Parliament “to devote more time to politics“, a promise which he fulfilled. He filled venues around the country with […]

Labour will inherit a crisis not a recovery

by Michael Burke.

For once it seems that the widespread reaction to a Budget was correct. Chancellors usually bury bad news in the detail of a Budget released long after their speech. However the dire electoral position of the Tories means that the main changes were announced with a flourish. The personal income tax rate threshold was raised […]

The magnitude of Osborne’s failure

by Michael Meacher.

Blinded by the cascade of populist trivia in the budget, the sheer scale of destructiveness of Osborne’s economic policies over the last 4 years has been hidden. It is immense. The economy is still after 4 years of austerity 1.4% smaller than in 2008, while the US economy is 5% larger than before the crisis. […]

A budget aimed at the Tory faithful, not the economy

by Dave Watson.

Shiny new coins did nothing to cover up the Chancellor’s blatant attempt to shore up the core Tory vote next year. The budget giveaways were relentless targeted on the comfortably off, rather than those who have been hit the hardest by austerity economics. Changes in tax thresholds may take some out of tax, but they […]

What’s in the box, Gideon? Hand-outs for the rich and a phoney recovery

by Michael Meacher.

Osborne didn’t mention the most important fact about the budget. While the OBR’s growth forecast for this year has been raised to nearly 2.7% (though their previous four have each been grossly over-optimistic), they recognise that this ‘recovery’, such as it is, will fade after 2015. In other words, this is not a real recovery, […]

Today’s Budget and the crisis in Ukraine

by Ann Pettifor.

This year’s Budget takes place at a time of high international tension. The issue of energy security has once again shot to the top of the political agenda. The crisis in Ukraine demonstrates once again the extent to which Britain is exposed to political and economic risks beyond our control. The fact is Britain’s dependency […]

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