by Labour’s manifesto — not continued austerity — is what the UK needs On 8 June, voters will go to the polls for perhaps the most important UK general election since 1945. The importance arises in great part from profound differences in economic policy, reflecting different views of the nature and health of the British economy. The Conservative manifesto calls for continued austerity, which will tend to slow the economy at a crucial juncture, against the backdrop of Brexit negotiations. Their spending cuts have hurt the most vulnerable and failed to achieve their intended debt and deficit reduction targets. In contrast, Labour’s manifesto proposals are much better designed to strengthen and develop the economy and ensure that its benefits are more fairly
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Labour’s manifesto — not continued austerity — is what the UK needs
On 8 June, voters will go to the polls for perhaps the most important UK general election since 1945. The importance arises in great part from profound differences in economic policy, reflecting different views of the nature and health of the British economy.
The Conservative manifesto calls for continued austerity, which will tend to slow the economy at a crucial juncture, against the backdrop of Brexit negotiations. Their spending cuts have hurt the most vulnerable and failed to achieve their intended debt and deficit reduction targets.
In contrast, Labour’s manifesto proposals are much better designed to strengthen and develop the economy and ensure that its benefits are more fairly shared and sustainable, as well as being fiscally responsible and based on sound estimations.
We point to the proposed increases in investment in the future of the UK and its people, labour market policies geared to decrease inequality and to protect the lower paid and those in insecure work and fair and progressive changes in taxation.
There is no future for the UK in a race to the bottom, which would only serve to increase social and economic inequality and further damage our social fabric. On the contrary, the UK urgently needs a government committed, as is Labour, to building an economy that really works “for the many, and not only the few”.
Signed by:
Alan Freeman … Ann Pettifor … Anwar Shaikh … Ben Fine … Robert Rowthorn … Geoff Harcourt … Ha-Joon Chang … James K. Galbraith … Malcolm Sawyer … Robert Pollin … Steve Keen … Engelbert Stockhammer … Tom Palley … Yanis Varoufakis … John Weeks …