Posts under ‘Public Spending’

Outside the Westminster bubble, people are mobilising against austerity

by Steve Turner.

Within 72 hours of the Tories forming a majority in Parliament it became crystal clear they were salivating at the opportunity to further impose their political austerity agenda for another five years. Attacks on freedom of speech, protest, the Human Rights Act and the right to strike came swiftly. Threshold limits on industrial action ballots […]

What can we expect from renewed austerity?

by Michael Burke.

The new Tory government will renew its austerity offensive shortly with the publication of an ‘emergency Budget’ on July 8. It is simple to demonstrate that the previous austerity programme caused the economy to grind to a halt (and with it the improvement in government finances). Supporters of austerity like to claim that austerity led […]

Did New Labour spend too much?

by Michael Burke.

It is not sufficient for big business to have secured an election victory and an overall Parliamentary majority for the Tory Party. It is also necessary to intervene in the Labour Party to ensure that its leadership also conforms to big business interests too. This currently takes the form of candidates in the leadership contest […]

Putting people first : Venezuela builds 700,000 new homes

by Matt Willgress.

Despite facing many difficulties, Venezuela’s latest achievements in housing are a timely reminder of why our solidarity with Venezuela remains so important, writes Matt Willgress Venezuela’s President Nicolas Maduro recently inaugurated the 700,000th house built under a state-led initiative called the Great Housing Mission to provide housing to all Venezuelans, continuing the impressive results of a […]

Global economic crisis: has Labour dodged a bullet?

by Ann Pettifor.

While Labour and LibDem activists mourn, and political opportunists seize the moment, is the loss of the election such a bad thing? Might this be a good time to lose an election? I think so. The reasons can be found in both domestic and global financial imbalances, in the advance of de-globalisation trends that are […]

The Tories won a tactical victory – not an endorsement of austerity

by Mike Hedges.

The general election result was not an endorsement of austerity but was a stunning Tory tactical success. The Tories adopted a policy of defending key marginal seats against Labour and UKIP and attacking in Liberal Democrat seats. The strategy worked and lead to a Tory majority government for the first time since 1992. This was […]

If Osborne cuts £30bn as promised, he can’t achieve his deficit reduction targets

by Michael Meacher.

Osborne is now mooting an emergency budget within the next few weeks to lay the foundations for the £30bn fiscal consolidation (aka cuts) to be announced in the autumn spending review. It is made up of £12bn welfare cuts, £13bn reductions in departmental expenditure (aka cuts in public services), and £5bn in tax avoidance measures. […]

Deliberately engineered ignorance on the economy undermines Britain’s democracy

by Bryan Gould.

As with most elections, the Clinton dictum that “it’s the economy, stupid,” has held good in the general election of 2015 – with special emphasis this time on “stupid”. The debate about who has done or will do best in managing the economy has been even more confused and irrational than usual this time. It […]

Greek myths retold: confronting the ideologues of austerity

by Michael Burke.

The world economy is not strong and the President of the United States is sufficiently concerned about new shocks to it that he recently met the Greek Finance Minister to urge ‘flexibility on all sides’ in the negotiations between the Syriza-led government and its creditors. US concern is fully justified. In any attempt to reach agreement it […]

There are 3 ways to cut the deficit – why has Labour chosen the wrong one?

by Michael Meacher.

The budget deficit, which has been far more central to this election campaign than it should have been, can be dealt with in three separate ways. It can be reduced by cutting net expenditure either by taxing the poor or by taxing the rich, or it can be reduced by cutting unemployment (the ‘automatic stabilisers’ […]

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