Posts Tagged ‘Living Standards’

Two key reasons for Corbyn’s stunning advance

by Tom O Leary.

This post first appeared on Socialist Economic Bulletin. Under Jeremy Corbyn’s leadership the Labour Party has staged a stunning revival, prevented Theresa May achieving a landslide which she would have claimed as a mandate for ‘Hard Brexit’ and has caused a crisis of Tory government which will make it harder to make new cuts in […]

Why the Left is needed to attack Osborne’s shocking economic record

by Michael Meacher.

It’s depressing that so many of the Leadership contestants seem to be colluding with Osborne’s deplorable policies instead of attacking them head-on. The simplest measure of overall economic performance is real GDP per head: in the UK’s case it is still, 8 years on, no higher than at the start of 2007 and still below […]

Osborne fiddles the figures – again – on living standards

by Michael Meacher.

In a budget speech spent firefighting against his opponents’ attacks, Osborne’s most eye-catching claim was that household incomes are now higher in 2015 than in 2010. However like everything else this slippery chancellor does, nothing should be taken at face value. And once again the spin he has put on the facts is wildly misleading. […]

We’re all now better off? There are lies, damned lies and Tory reassurances

by Michael Meacher.

There are lies, damned lies and Tory reassurances. The latest yanking of the figures to pretend what nobody believes is a classic. Select the numerical series that suit you, make some amendments to it that help your case but ignore others that don’t, pick the definitions of income and inflation that give the results you […]

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 […]

Battle-lines for 2015: Tory permanent austerity v Labour decent affordable society

by Michael Meacher.

Cameron, surprisingly, has really let the cat out of the bag. In his speech to the Lord Mayor’s banquet (complete with champagne, roast duck and assorted fruit meringues) he let slip to his audience that the Tories would not restore public expenditure after the structural deficit had been eliminated, but would maintain austerity indefinitely (though […]

Demonising part-time workers

by Phil Burton-Cartledge.

They call it a recovery. The OECD has raised its forecast of UK economic growth from 0.8% to 1.5%. This follows on from the British Chambers of Commerce who’ve floated a similar figure. While economics wonks are muttering “caveats, caveats” the Daily Express have had no hesitation proclaiming “Britain’s economic recovery is now in overdrive“. Resting arguments on evidence might […]

Labour is only half-right: we should shout louder on living standards

by Michael Meacher.

Labour’s at least half right to explode the Tory economy bubble by exclaiming: Recovery? What recovery? OK for bankers’ bonuses, OK for City private equity, OK for investors’ share indices, OK for Treasury austerity enthusiasts. Yes, fine for the top 1% – that’s 300,000 individuals out of the UK’s 40 million adults. But what about […]

How wage cuts damage the economy

by Dave Watson.

Pay cuts may drive short term profits and help governments balance the books — but they do nothing for social justice and also damage the economy. Here’s why: Yesterday, at Unison Scotland, we launched a report on the impact of real wage cuts on workers and the economy. It contrasts the increasing wealth of the richest […]

The pound in your pocket is lowering your living standards

by Michael Burke.

The British pound has begun to fall once more on the international currency markets. It may be further helped on its way by the loss of the AAA credit rating. This will have important domestic economic consequences. The currency is also being talked down by a number of officials, effectively including both the current governor of […]

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