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
National Debt
Animal Spirits, Taxing and Borrowing — Editorial
Kwasi Kwarteng is clearly a believer in animal spirits, or more specifically, the animal spirits of the UK private sector. The term ‘animal spirits’ was used by the economist J. M. Keynes to describe the spontaneous forces of vitality that drive human action. Apparently these animal spirits have been held back by too much taxing and … Continue reading Animal Spirits, Taxing and Borrowing — Editorial
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
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
Labour Affairs 