The Makerfield by-election is the most important by-election in recent years. It is almost a pre-run of the 2029 general election which may well determine whether the Labour Party survives. Makerfield has been represented by Labour MPs since its creation in 1983. Labour would typically get between 50% and 60% percent of the vote. It was a ‘Leave’ voting … Continue reading Whether Burnham wins or loses, the future of the Labour Party is not guaranteed—Editorial
inflation
How could the labour movement control inflation without increasing unemployment?
Dave Gardner This article takes, as a starting point, the article by Martin Seale on how the Bank of England (BoE) manages inflation through manipulating interest rates with the byproduct being unemployment. Currently, the BoE manages inflation through the setting of an interest rate that keeps the inflation rate stable. The mechanism used is the … Continue reading How could the labour movement control inflation without increasing unemployment?
Introduction to “Fiat Socialism” by Carlos Garcia Hernandez.
Published by Lola Books, 2023 By John Clayden Worker's MoneyI remember well over thirty years ago standing outside one of the biggest halls in Newcastle upon Tyne with a group of unemployed workers lead by a great unsung hero of the working class - Andy Robertson an oil rig worker who had organised his fellow … Continue reading Introduction to “Fiat Socialism” by Carlos Garcia Hernandez.
Budgets and Wars—Editorial 2
British politics is in a strange state. Since winning the 2019 general election with a substantial overall majority of some 80 seats, the Conservative Party has been tearing itself apart. It has already disposed of two Prime Ministers, Boris Johnson and Liz Truss. It is now being managed by the richest Prime Minister in history, Rishi Sunak. His main … Continue reading Budgets and Wars—Editorial 2
Public Sector Wage Increases and Inflation—Editorial
Public Sector Wage Increases and Inflation British society as a whole is poorer because of the war it is waging against Russia. The sanctions that it has imposed on Russia have resulted in dramatically higher energy prices. Britain must give up a much larger share of its income to consume the same amount of energy. How is … Continue reading Public Sector Wage Increases and Inflation—Editorial
Let’s Avoid a 1970s Rerun
The TUC have called for a large demonstration in London on June 18th in the face of the cost of living crisis. “Working people have had enough. Everything’s going up but our wages. Join the trade union movement in London to tell this government: we DEMAND better!” reads the TUC blurb. They are right and a massive … Continue reading Let’s Avoid a 1970s Rerun
On Interest Rates and Mini-Budgets
Interest Rates and Mini-Budgets Martina Seale On May 4th the Bank of England (BoE) decided to raise the Bank interest rate by 0.25% to 1%. The stated purpose of the increase is to help fight inflation. The logic that the BoE is following is really quite simple. Inflation is caused by demand for products being greater that the … Continue reading On Interest Rates and Mini-Budgets
Inflation 2022
A Transitory Inflation? Martin Seale The price of many of the goods that the typical consumer buys is higher than it was a year ago. Is this inflation? The last time we had inflation in the UK was in the 70s and 80s. But is what happened then similar to what is happening now? In the early … Continue reading Inflation 2022
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
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
Labour Affairs 