Posts under ‘Conservatives’

Pre-budget memo to Osborne: records show austerity won’t cut deficit

by Michael Meacher.

Osborne’s 8 July budget will be forced through in the teeth of all economic experience. The history of the last 70 years demonstrates one conclusion irrefutably: austerity is the wrong way to cut deficits. After the second world war had dramatically drained Britain’s wealth and left the country with colossal debts amounting to 260% of […]

Tories’ pre-election fantasising comes back to haunt them

by Michael Meacher.

Northern powerhouse deflates into Northern power-cut. It was so hurriedly propagated by Osborne before the election as portraying the government as dynamic innovators of English devolution, but none of the details had been properly worked through, including the required transport infrastructure as we now know. So the election gimmick, if not evaporated, has dimmed at […]

Why the economy is in far worse shape than Osborne admits

by Michael Meacher.

Osborne’s portrayal of the British economy as having “the fastest rate of recovery of any advanced nation in the world”, which he again repeated yesterday, is sheer poppycock. He continues to boast that GDP growth can be expected to average some 2.5% per annum over the period ahead, but on every key economic indicator that […]

1/4 million in Saturday’s rally against austerity: 1 million next time!

by Michael Meacher.

Governments don’t listen to Parliament so long as they have a majority, but they do listen to social movements amassing their forces against them. Saturday’s rally against austerity assembling 250,000 activists is a very good start, and it needs to be followed through with ever bigger demos over the next few months. You can always […]

Privatising RBS: a triple whammy against taxpayers, economy and reform

by Michael Meacher.

Why sell off the 80% stake in RBS when the Brown government bailed it out in 2008 at a cost to taxpayers of £45bn, yet today’s share price would fetch only some £32bn? That’s a £13bn loss for taxpayers which, as it happens, is almost exactly the sum that Osborne is pledged to raise by […]

Try as he may, Osborne cannot “eliminate the deficit”

by Ann Pettifor.

The Fabian Society invited Nicola Smith of the TUC, Dan Corry – once a Labour government adviser – and me to address their Summer Conference ten days ago. The theme: how can Labour restore its economic credibility with the electorate? The audience was large – about 300 earnest, well-informed and assertive Fabians. The discussion was […]

Orgreave – the IPPC and DPP are not fit for purpose

by Michael Meacher.

Accountability in Britain has reached a new nadir today. The report that the Independent Police Complaints Commission (IPPC) refuses to investigate claims of police criminality at the mass picket at Orgreave during the 1984-5 miners’ strike really stinks. They have already found evidence that police officers assaulted miners and then perverted the course of justice, […]

Only Tory structural stupidity can explain Osborne’s budget surplus law

by Phil Burton-Cartledge.

The Conservative Party is structurally stupid. As a force the Gods of social dynamics have condemned to a slow and unlamented decline, so madness inevitably manifests itself in all manner of horrible pathologies. A more signal example of this is George Osborne’s speech, made yesterday evening, basically outlawing the state’s ability to run a budget surplus. It […]

Osbornomics goes toxic

by Michael Meacher.

Osborne’s Mansion House speech last night reverts to the old-fashioned economics of the governor of the bank of England in the 1920-30s, Montague Collet Norman, which led to the General Strike of 1926 and the Wall Street crash of 1929, followed by the desperate misery and hand-to-mouth subsistence of the 1930s which was so etched […]

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 […]

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