Posts under ‘Public Spending’

How do you run the country five years after the old business model died?

by Michael Meacher.

Big Business remains in a state of denial. After the biggest crash for a century, their line is unaltered: low taxes (or preferably no taxes through avoidance), deregulation, privatisation to remove virtually the entire domain of the State into the private sector, unrestrained inequality. It’s as though the trauma of the last 30 years hadn’t […]

Welfare for Gideon’s corporate chums, but forget about it if you’re poor

by Michael Meacher.

Last year, the “big four” banks – HSBC, Barclays, RBS and Lloyds – enjoyed a ‘too big to fail’ taxpayer subsidy of no less than £38bn, the New Economics Foundation thinktank (NEF) have revealed. This is in an economy where the budget deficit is still £111bn, and where money is so tight that Osborne has […]

Labour must refute Tory canard that profligate spending caused the recession

by Michael Meacher.

Once more in this last week Cameron and Osborne have been at it again saying all Britain’s current troubles come from ‘profligate’ expenditure by the last Labour government. It is a straightforward lie. In Labour’s years in office before the financial crash in 2008 the highest deficit in real terms was 3.3% of GDP in […]

What is the difference between Tory and Labour policy on the deficit?

by Michael Meacher.

Osborne has made clear he intends to enforce further enormous cuts in public expenditure (£25bn for starters in the next Parliament) in order to achieve a budget surplus by 2018-9. Previously Labour had been committed by Ed Balls to match Tory spending plans only to 2015-6. But now in his speech to the Fabians on […]

Here’s another plan: how about no cuts for the poor but £25bn cuts for the super-rich?

by Michael Meacher.

It is totally unnecessary and gratuitously damaging to demand wholesale elimination of the structural deficit within a very short fixed period (Osborne’s 2018), and patently wrong if it badly weakens the economy. The deficit is currently just over 7% of GDP, and before the crash when the economy was growing strongly at nearly 3% the […]

Osborne’s Grand Plan to ‘trap’ Labour over deficit can be easily derailed

by Michael Meacher.

Osborne loves to preen himself that he is clever enough to force Labour into a trap by which he can win the next election. His latest idea is that by announcing (as he did last Monday) that he will eliminate the structural deficit by 2020 and this will require a further £25bn of cuts on […]

Parliament tomorrow debates the impact of Tory welfare reforms on poverty

by Michael Meacher.

Two events in this last week point up both the savagery and mindlessness of the Tories’ continuing and relentless assault on benefits. One was Osborne’s declaration that, after lopping off £25bn from the social security system in this parliament, he will make additional £25bn cuts in the next parliament half of which will be severed […]

On President Hollande’s New Year bomb

by Tom Gill.

Translated by Tom Gill from the original in l’Humanité by Patrick Apel -Muller François Hollande’s New Year message  did not mark a political turning point, which came just a few months after his election, but it expressed his right turn without any attempt at camoflauge. Priority is to be given to the demands of big business, […]

The return of the state

by Michael Meacher.

For 34 years private markets have held sway, with the corollary that the State was inefficient and bureaucratic and should accept its role to get out of the way. Since that Thatcherite-engineered change of culture after 1979 the UK has undergone a major recession in each decade – in 1980-83, then again in 1990-93, and […]

The sheer brutality of the cuts must be made known

by Michael Meacher.

The stark Christmas being faced by hundreds of thousands of families across the north of England has been highlighted by a report this month from the Northern Housing Consortium. It shows that the proportion of households spending less than £20 a week on food has increased from a quarter to a third compared to a few […]

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