Rachel Reeves' position as Chancellor is growing increasingly precarious. She fought the 2024 general election on a platform defined by strict fiscal rules, a refusal to raise income taxes, and a pledge to deliver economic growth. It was a politically calculated stance—economically incoherent, but designed to appeal to Conservative-leaning voters whose support Labour believed it … Continue reading Labour Needs a U-Turn in Economic Policy—Editorial
austerity
Sharon Graham Winter Fuel Allowance speech
Labour conference: Unite general secretary Sharon Graham Winter Fuel Allowance speech Unite general secretary Sharon Graham today moved the motion on winter fuel allowance at Labour party conference. The full text of the speech is below: “The nation wants food, work and homes… It wants a high and rising standard of living, security for all, … Continue reading Sharon Graham Winter Fuel Allowance speech
Starmer’s Labour Party — Editorial 2
Starmer’s Labour Party Keir Starmer was first elected as an MP in 2015. He rose to prominence when he led the opposition to various attempts to implement Brexit while the party was under the leadership of Jeremy Corbyn. In 2019 he convinced the Labour Party conference to support a 2nd referendum over Brexit. There are strong reasons to believe … Continue reading Starmer’s Labour Party — Editorial 2
Fiscal Rules – A Scam To Justify Austerity — Editorial
Early in his Autumn Statement to Parliament on 17th November, the Chancellor, Jeremy Hunt, announced two new fiscal rules: “…I also confirm two new fiscal rules. The first is that underlying debt must fall as a percentage of GDP by the fifth year of a rolling five-year period. The second is that public sector borrowing over … Continue reading Fiscal Rules – A Scam To Justify Austerity — Editorial
Rishi Sunak’s Financial Statement
Editorial 1 Early on in his dismal Financial Statement Rishi Sunak said: “At a time when the OBR has said that our fiscal headroom could be “wiped out by relatively small changes to the economic outlook,” it is right that the central fiscal judgement I am making today is to meet our fiscal rules with a … Continue reading Rishi Sunak’s Financial Statement
Transformative Socialist Economics
IT'S TIME FOR TRANSFORMATIVE SOCIALIST ECONOMICS: AN OCCASIONAL SHORT READING AND VIEWING GUIDE Michael Murray (1) The problem stated: "The Labour Party believes that a Labour government can only spend what it has levied in taxation, or borrowed from the private sector. But it also wants to be a party of low taxation and low national … Continue reading Transformative Socialist Economics
How to pay for it. The case of Universal Credit
By Michal Lerner To win the next general election, Labour must give bold answers to the question ‘How will you pay for it?’. Let us therefore imagine an interview between an interviewer (I) and a member of the Shadow Cabinet (L) and suggest how the dreaded question should be dealt with in the context of … Continue reading How to pay for it. The case of Universal Credit
Editorial 1 — Labour Must Exploit Tory Divisions
The most important political battle in British politics is currently taking place in the Conservative party. There is, of course, also a political battle taking place in the Labour Party, but it is of a different kind. In the Labour Party, the party machine is being used to suppress the discussion of any radical ideas. In contrast, in … Continue reading Editorial 1 — Labour Must Exploit Tory Divisions
Ditch Blair’s Legacy
Ditch Blair’s legacy — Editorial Starmer became leader of the Labour Party in May 2020 on the basis of a 10 point program that Jeremy Corbyn would have had little problem supporting. Since becoming leader he has had little to say about his 10 point program and has, instead, concentrated his energy on attacking the left wing … Continue reading Ditch Blair’s Legacy
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