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Wednesday, 25 April 2012

Britain back in recession austerity not working fight back against capitalism needed

Today it has been confirmed that Britain in the last quarter contracted by 0.2 % GDP meaning that two back to back negative growth figures lands us back in recession. A light one at present but still a recession none the less. Too many this has been on the cards for sometime and to the poorest in society may argue it never felt like we left recession with the misery of cutbacks and tax hikes and inflation all mounting to mean a huge strain on people’s lives and living standards.

The Tories and lib dem government has been in power for two years now and their plan of the phoenix of the private sector rising from the ash’s has simply not happened. We were told we must cut the public sector spending to allow the private sector to grow this hasn’t happened either if anything the public sector borrowing has goes up not down and our deficit is increasing.
The old phrase of its hurting but its not working is very apt here.

Even reformist measures here of investing in jobs socially useful jobs and a mass house building programme would go someway to helping this. But the con-dem government look focused on reducing the deficit the most painful of ways and still may not actually work for them. If anything this is a cocktail of cuts tax’s and inflation which will send us spiralling into endless austerity.

It was always said the definition of insanity was continuing to do what has been proven not to work. So the Tories and labours idea that if cuts don’t work we’ll have some more cuts is just barmy.

A serious shift is needed a ramping up of the tax’s on the very richest in society is needed a wealth tax with other tax’s preventing the rich getting away with not paying for the mistakes of the bankers who were the ones who got us into the position.
What is also needed is a nationalisation programme bringing in the major 150 companies into public ownership properly run democratically by the workers with all of the profits made ploughed back into the public purse to invest in more jobs, services and the things that people need to live. Not just for the benefit of a rich minority.

Its time the argument on austerity is won once and for all and a major shift to change society for the benefit of the many is fought.

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