A fundamental weakness of Labour’s recent general election campaign was the failure to offer voters hope of a return to prosperity. Shackled to the Coalition’s economic framework, the core of which is slashing the public sector, Labour’s small progressive proposals were drowned out by the overwhelming commitment to austerity. Focusing on a promise to introduce a ‘budget responsibility lock’ at the manifesto launch underscored just how out-of-touch the Party’s campaign had become.
The Tories’ rhetoric justifying their budget policies is just misleading propaganda – austerity is not about reducing the deficit. Quite the opposite, cutting government spending contributes to current economic stagnation and in turn depresses the government’s revenue. Continue reading