Posts under ‘Public Spending’

Productivity is central flaw in Tory economic argument

by Michael Meacher.

One of the company bosses signing the Telegraph letter sought to clinch his case by saying it was ‘madness’ to abandon the government’s economic policy since it was only half done and they needed to ‘finish the job’. But what is half done? Not reducing the deficit since it was £118bn when Alistair Darling’s two […]

£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 […]

Do we want predatory capitalism or an economy geared to the common good?

by Michael Meacher.

Despite the predictable whines of some FTSE-100 bosses reported yesterday about a post-election Labour-SNP pact, Ed M should flesh out more about his vision to replace ‘predatory capitalism’ both because that is what a majority of people want and also to put paid to the ignorant mantra that self-interested executives like to propagate that anyone […]

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 […]

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 […]

What the 3 main parties aren’t telling you: a radical way out of austerity

by Michael Meacher.

On budget day this Wednesday (18 March), I and 16 other contributors are launching in the House of Commons our book What the Three Main Parties are not Telling You: A Radical Way out of Stagnation and Inequality as a counter-blast to Osborne’s demand for another 5 years of austerity. Mariana Mazzucato refutes the conventional […]

Corporate tax dodging is father of austerity

by Michael Meacher.

Industrial scale tax evasion and avoidance is not only symptomatic of the insatiable greed of the hyper-rich and the over-mighty corporations, it also serves another purpose which is much less recognised. The touchstone of the neoliberal ideology is globalisation – let the markets be all-powerful and governments get out of the way. That is served […]

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