Posts Tagged ‘Austerity’

Alternative Autumn statements: continued Tory failure versus Corbynomics

by Michael Burke.

Having spectacularly failed in his stated goal of eliminating the deficit in the last parliament, George Osborne is repeating his experiment in this one. Both the June 2010 and 2015 Budgets proposed ‘fiscal tightening’ of £37 billion. In the first of these Budgets the main method was cuts in public spending. In the second it […]

We should stand up to anti-migrant rhetoric by fighting for homes, jobs and services

by Diane Abbott.

David Cameron’s net migration target has been exposed as an unworkable policy. In reality, it is classic scapegoating tactics, being used to distract people from the effects of government spending cuts, such as the crisis in the NHS and the increasing unaffordability of housing. All the Tories have to offer is yet more destructive cuts. […]

Labour must start to claw back the national narrative on austerity

by Amy Dunne.

This week has marked the beginning of the slow process of exposing the Conservatives as they are, and it’s certainly not as the party of the working people they so ardently claim to be. During Question Time, a small business owner named Michelle almost burst into tears as she made a heartfelt plea to Conservative Minister Amber Rudd not to […]

“Butskellism” versus Keynes and Marx

by Michael Burke.

The debate is continuing on the purpose of government borrowing and the role of ‘balanced budgets’ – which was started by John McDonnell’s position of balancing the budget on current expenditure but borrowing for investment. This is not surprising given that economic policy has to be the core of the programme for a Labour government. […]

Austerity – It’s Not Working and it’s Not Popular!

by Matt Willgress.

Jeremy Corbyn’s landslide victory in the Labour leadership election was the clearest sign yet that not only is austerity not working, it’s increasingly not popular. Before Jeremy’s entrance into the leadership race, on a clear anti-austerity platform that argued for a progressive alternative based on investment rather than cuts, the leadership campaign had begun with […]

Putting the Political back into Political Economy

by Ewan Gibbs and Nathaniel Blondel.

The reaction to John McDonnell’s announcement that he would aim for a balanced current account, whilst maintaining borrowing for capital investment, revealed a recurrent fault line within left-wing economic thought. At its most banal McDonnell was accused of signing up to George Osborne’s ‘austerity charter’, whilst more sophisticated critics argued such policies would weaken demand […]

What is behind Osborne’s move to the centre-ground?

by Phil Burton-Cartledge.

Is the loss of Lord Adonis from the Labour side of the Lords really a coup for George Osborne? Not really. A tsunami failed to erupt from the impact point in the cross benches, sweeping away the shiny new works of our equally shiny new leadership. The political damage is limited because he’s not terribly […]

Escaping “Stockholm syndrom – Stop fessing up to errors Labour didn’t make

by Ann Pettifor.

Mr Osborne’s most striking political achievement, with the connivance of the economics profession and media, is to reframe the debate about the most severe crisis in living memory away from finance and towards the welfare state – identified as causal of the crisis. In reframing the debate he has succeeded in ‘capturing’ some of his […]

One of Jez’s first tasks must be to frame his project, and to de-frame Osborne’s

by Michael Meacher.

If there is one single reason why Labour lost the election, it’s that Osborne realised the critical importance of framing his project in a way that made it acceptable in the eyes of a majority of the electorate. The fact that it was a string of lies didn’t matter as long as people believed it. […]

It’s about the fundamentals, silly

by Michael Meacher.

The basic reason that the leadership election has been so disappointing, until Jeremy Corbyn came on the scene, was that it was stuck on issues (insofar as it was stuck on any issues at all) that, while certainly important, did not have the makings of a vision. Even when Corbyn prompted the others to produce […]

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