Austerity isn’t working
Our country faces long-term economic problems. But our political leaders have failed to face up to them.
For the next five years or more, unless policies change the economy will not grow, incomes will not rise, and there will be almost no new jobs.
If the government keeps on with big spending cuts and austerity we face a lost decade. Even on their own terms government policies are failing. To close the deficit we need a healthy growing economy that generates tax income. But austerity has led to a vicious circle of decline.
Instead of just letting the banks go back to business and bonuses as usual, we need policies that promote new and old industries.
This new approach would create jobs, especially for young people.
It would encourage companies to raise average pay, penalise big bonuses and invest in training and new industries. It would crack down on tax evasion by big companies and the super-rich. It would tackle the growing inequality between the super-rich and everyone else.
Rather than deep, rapid spending cuts, we need to reverse our decline and build an economy that works for ordinary families.
We need a future that works.
For more on the case against austerity – download our pamphlet