Scriptonite Demolishes Tory Neoliberal Economics

Osborne Pic

George Osborne: Robin Hood in reverse – robs the poor to pay the rich.

Today’s the day when Osborne will announce the budget, which I don’t expect to be anything else but the same Neoliberal policies of increased tax cuts to benefit the rich, more privatisation, and even more punitive welfare cuts. Following the way previous Tory governments have carried on, these policies will be announced as being ‘good for business’, ‘making Britain more competitive’, while the cuts to the welfare budget will be defended as necessary to pay of the immense debt the country inherited from the last Labour government. There will also be denials that the poor are being pushed further in poverty. Instead, the usual Tory response to this is to claim that they are merely concentrating help where it is most needed. Sometimes there are statements to the effect that the Tories have given more money to the welfare state in real terms than Labour. It’s all rubbish, and I’ve heard them so many times that I can repeat them myself.

Scriptonite Daily has put up an excellent demolition of Neoliberal, Monetarist economics that is well worth reading as an antidote to the poisonous, smooth verbiage likely to be utter by Osborne to defend his latest attack on the poor, the sick, elderly and disabled in the name of the wealthy. I found it through Mike over at Vox Political, who got it in turn from the Skwakbox. It’s entitled Britain’s 5 Wealthiest Families Richer Than Poorest 12.6 Million? It’s Time for a People’s Budget. It covers and names the very richest individuals, who collectively have more than the poorest section of British society, the way tax cuts for the rich force the tax burden on to the rest of us proles; the use of government subsidies to prop up the banks and financial sector, and the way the public is left paying far over the normal price for PFI hospitals; how government subsidies and privatisation of the utilities have resulted in private industry acquiring the most, and often immensely profitable, parts of these companies, while the tax payer is saddled with the debt, and how the government system of tax credits for the poorly paid actually subsidise poor wages. It finally ends with a list of issues which it would like to see addressed by a ‘People’s Budget’.

The piece is over at http://www.scriptonitedaily.com/2014/03/17/britains-5-wealthiest-families-richer-than-poorest-12-6-million-its-time-for-a-peoples-budget/.

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