Posts Tagged ‘Balance of Payments’

It’s the country’s deficit not the government’s that matters – devalue to re-industrialise

by Bryan Gould.

The imminent crisis in what is still laughingly called the British steel industry is being greeted just as other similar developments have been for decades – with consternation and anger, with concern for the implications for social cohesion in general and for workers’ families in particular, but with no recognition that this is just the […]

Memo to Jeremy & John: it’s the country’s deficit that matters, not the government’s

by Bryan Gould.

A major factor in Jeremy Corbyn’s appeal to voters in the recent leadership election – and potentially to the wider electorate as well – was his brave assertion that austerity was the wrong response to recession and was doing absolutely avoidable damage to both economic performance and social cohesion. That assertion not only gave fresh […]

Northern Powerhouse – The gap between reality and rhetoric

by Grahame Morris.

There is no better illustration of the gap between the rhetoric and reality than the Government’s failure to support our steel industry. The UK steel industry is in crisis. While George Osborne was in Shanghai this week selling the UK energy sector to the Chinese Government, steel production on Teesside could come to an end […]

Carney’s rose-spectacled survey of the economy as Parliament returns does not convince

by Michael Meacher.

The UK economy’s ticking over fine: that’s the view of Carney, Osborne’s man. So that’s alright then. Or is it? With time-honoured spin we were treated to the most optimistic scenario on every count, with the flip-side downturn kept carefully out of sight. His central message was that “there is no clear evidence of deflationary […]

Too left wing? Corbyn concedes too much on public spending – trade deficit matters more

by Bryan Gould.

How Left wing is Jeremy Corbyn? If anything, argues Bryan Gould, Corbyn’s economic platform concedes too much on the government deficit – it is the balance of payments deficit which should be our main focus As the warnings about a Corbyn leadership become more and more hysterical, we need to ask – just how left-wing is Jeremy […]

Privatisation debate: long-term market share v get-rich-quick barrow-boys

by Michael Meacher.

The Tories have always boasted that privatisation of major industries has been good for the economy and good for Britain. A rain-check on the history of Thatcher’s mass programme of privatisation now suggests otherwise. Who thinks the privatisation of energy, or of water, or of telecoms (or of the Post Office) has been a roaring […]

The economy should be Labour’s turf, not the Tories’

by Michael Meacher.

It is astonishing that the Tories have opted to fight the coming election on their economic record (maybe because fighting on any other issue would be even worse?) – and equally astonishing that Labour has made such a poor fist of retaliation. The simple truth is, there is nothing at all about the Tory economic […]

It’s not only debt deficit that’s unsustainable, it’s trade deficit too

by Michael Meacher.

The latest balance of payments figures recently published passed with scarcely a murmur. Yet the message about the trade deficit is as disturbing, if not even more so, than the budget deficit. Both are meant to be reducing, yet both are increasing quite sharply. The budget deficit, the reduction of which is the single central […]

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