- New Labour did not create the deficit. The deficit comes from having to bail out so many banks. Banks which have since walked away scot-free.
- There is no urgency whatsoever when it comes to paying off the deficit. Britain is in a far better position than most countries in this respect. Our loans do not need to be paid off for some time. We can afford to spend our way out of the recession.
- Which is of course a far more sensible proposition than the Tories’ cuts. Inflicting mass unemployment is no solution.
- The private sector will not pick up the slack. There seems to be an unspoken assumption in the media that the public sector is nothing but a drain; all it does is eat up the money we pay as tax. But of course, if you pay people to do a job, they then have money to contribute to the economy. The public sector is even more important than usual at a time like this, as a way of propping things up. Certainly the private sector is utterly useless. When was the last time you heard news of big new private sector job opportunities?
- These cuts are an ideological attack, an attempt to return Britain to Dickensian levels of inequality and squalor. They are an attempt to leverage mass unemployment to drive down wages and keep the workforce demoralised and fighting each other for jobs.
- If they are not defeated, the tory cuts will leave Britain immeasurably poorer, miserable and terminally defeated.
October 27, 2010
At the risk of stating the obvious…
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