Batley & Spen By-Election — Editorial II

Labour has held on to the Batley & Spen parliamentary constituency with the slenderest of majorities.  Labour got 13,296 votes while the Conservatives got 12,973 votes, giving Labour a 323 majority.  George Galloway, whose main point in standing as a candidate for the Worker’s Party, was that the Labour Party under Keir Starmer no longer represented working people, … Continue reading Batley & Spen By-Election — Editorial II

Quantitative Easing and Inequality

Q.E. and Inequality Parliament Notes Has QE created more inequality? This was one of the questions examined by the Lords Economic Affairs Committee on Quantitative Easing.  (See list of all questions examined below).  Some witnesses, such as Paul Tucker, former Deputy Governor of the Bank of England, thought that QE did increase inequality.  The present Governor, Andrew Bailey, … Continue reading Quantitative Easing and Inequality

Quantitative Easing, or “How will you pay for it?’

Parliament Notes QE, or printing money, is capitalism’s cunning plan to overcome economic and financial crises.   In the massive economic crisis of the 1930s, the US state financed public works with money it hadn’t ‘earned’ from taxes.  The economies of the US and Europe have practised it since to avoid the worst disasters of the 2007/8 financial … Continue reading Quantitative Easing, or “How will you pay for it?’

National Debt is an Irrelevant Statistic – Editorial

National Debt is an Irrelevant Statistic - Editorial The unifying framework of Sunak’s budget is that the size of the national debt is a critical concern.  Hence, he has done the minimum possible to get the country through the next 6 months while sending a clear signal that there will be a return to austerity and increased unemployment … Continue reading National Debt is an Irrelevant Statistic – Editorial

Editorial – Budget Battle Lines

Editorial Budget Battle Lines The next UK budget is on 3rd March.  We don’t know what position Sunak will take on the hugely increased fiscal deficit.  Will he return to austerity policies quickly or defer for a year?  Certainly the Labour Party response to Sunak’s budget will be an opportunity to clearly separate Labour from the Conservatives.   There have … Continue reading Editorial – Budget Battle Lines