Posts tagged with: Austerity

A Non-Solution to the Wrong Problems

Introduction Before looking in detail at this Budget, it is worth reminding ourselves that the economy is the system we as a country have chosen to put in place to optimise the production and distribution of valuable goods and services for the benefit of our population. There is a wide array of choices open to […]

What the IMF Really Said

Twice a year, the IMF releases its World Economic Outlook. The most recent was published on 11 October 2022. Some on the extreme right have been claiming that it is a clear vindication of Truss and Kwarteng’s disastrous Budget, and even that this Budget will make Britain the “fastest growing country in the G7.” We […]

Traitriotism: Key Tool of the Far Right

There is a word we have been missing in the English language: traitriotism. This article explains what traitriotism is and why it is such a powerful tool in the hands of the unscrupulous.   But first, let’s do a little thought experiment. Suppose you were leading a political party whose aim was to enrich a […]

How to Stop the Government

The Conservative government works hard to give an impression of strength and determination: nothing we can say or do will stop it in its plans. And yet, over the last three years, there have been over 40 U-turns, of which the most notable was the ousting of Johnson, something that seemed impossible just 18 months […]

The “Creative” Destruction of the UK

Last week, we wrote about Truss and Kwarteng’s Budget that “It is very clear that this Budget does not produce the change in direction the country needs; it is a dangerous doubling-down on the failed policies of the past, without even an attempt to safeguard most UK citizens.” Just one week later, that summary seems […]

Will Truss Give It All to the Top 0.01%?

Truss has launched her so-called ‘plan for growth.’ History shows that the likely impact of that plan is to redistribute wealth upwards at an increasing rate, impoverishing most of the UK population. The post-war period 1945-1980 was known as the Golden Age of Capitalism; the period from 1980-2015 was the age of Market Capitalism. The […]

What Was the Alternative?

Since 2010, the UK economy has been shaped by three critical government decisions: Austerity, Brexit and COVID. We have previously argued that the government mishandled all three (see Austerity, Brexit, COVID – an ABC of Economic Mismanagement). Now even the former Chancellor and would-be Prime Minister, Rishi Sunak, has admitted that the UK faces a […]

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