Share this page!

Paul Mason Profile picture
Twitter logo
3 Mar, 7 tweets, 2 min read
Ahead of the budget, what would the left do faced with OBR's likely fiscal projections: 1/ Don't stop borrowing. Signal major strategic fiscal expansion over the next 3 years and get the BoE into line for continued support... medium.com/mosquito-ridge…
2/ Impose a windfall tax on companies whose profits grew significantly through the lockdowns. medium.com/mosquito-ridge…
3/ Signal the rise of corporation tax to 25% over four years, back-loaded, but with serious upfront measures on avoidance medium.com/mosquito-ridge…
4/ Make the case for long-term borrowing to invest: calculate government debt against assets. No new fiscal rules on debt, and very flexible ones on deficit. medium.com/mosquito-ridge…
4/ A £200bn fiscal stimulus starting now to reshape the UK economy around the green industrial revolution and redistribution... medium.com/mosquito-ridge…
5/ Convert Universal Credit into an emergency basic income, and begin trials and studies into UBI/UBS as a project for the mid-2020s.... medium.com/mosquito-ridge…
5/ Signal a raft of wealth taxes and the eradication of conduits for offshore finance. medium.com/mosquito-ridge…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Paul Mason

Paul Mason Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @paulmasonnews

Paul Mason Profile picture
3 Mar
The Budget: a rapid response thread 1/ Sunak broke with the Tory austerian decade to extend the short term stimulus. But he's promised £68bn of fiscal austerity between 2023-26, mainly tax rises...
2/ The aim is to trap Labour into a position where it cannot promise fiscal expansion during a Labour govt, and to tee up a snap election before April 2023....
3/ Labour was right to oppose up front CT increases, and would be right to support them form 2023 onwards, for reasons of redistribution, not "balancing the books"....
Read 9 tweets
Paul Mason Profile picture
2 Mar
R is for Rosa, a project in collaboration with @rosalux_global is three short documentaries about the ideas of the German revolutionary Rosa Luxemburg... in Episode 1 she dives into the 1905 revolution, ends up in jail, and writes The Mass Strike...
Episode 2 finds Luxemburg teaching in the SPD party school with a bunch of old reformists ... check out the archive shots to see how happy that made her feel... she writes a major work on economics, and then the war breaks out...
Episode 3 begins with Rosa in jail in Breslau... writing her diatribe against Lenin over democracy... she rushes to Berlin as the war ends, forms the KPD and is murdered by the Freikorps...
Read 10 tweets
Paul Mason Profile picture
28 Feb
Sunak signals austerity lite - time for Labour to wake up and start making an argument: for borrowing, spending, growth and monetary activism... 1/ link.medium.com/UwVlHTWReeb
2/ Sunak plans to plug £43bn "hole" though freezing income tax allowances, a phased-in corporation tax rise and cutting the aid budget - plus around £20bn of cuts or further tax rises not specified. Labour's job is to *oppose it all* - because it's austerity. But...
3/ What we need now is a comprehensive alternative vision, argument and policies. The remainder of Sunak's post-Covid stimulus is piss-poor: £20bn on offshore wind? Labour pledged £88bn. We need a Biden-scale 10% of GDP stimulus - and to stop worrying about bond yields...
Read 8 tweets
Paul Mason Profile picture
26 Feb
Thread: 1/ Labour's @JohnHealey_MP just set out a pretty comprehensive defence overview that is a) clearly anti-tory both in policy and principle b) stands a chance of reconnecting with the voters Labour needs to win...
2/ The key points were - as under Corbyn - support for NATO, for Trident renewal, multilateralism and rule of law, and UK-focused defence procurement strategy...
3/ Healey pointed out that all wings of Labour supported NATO at foundation - IIRC there were only 6 votes against it in parliament - 2x communists and 4x pro-CP ex-Labour MPs.... Bevan/Lee etc supported it and of course the Labour right designed it...
Read 10 tweets
Paul Mason Profile picture
25 Feb
What would a left government do in next week's Budget? 1/ A massive pro-cyclical stimulus to put rocket boosters under those parts of the economy we want to recover fastest in H2 - ie start rebalancing away from low-value/low wage growth in the next phase...
2/ .... stimulus means a public spending hike, both on investment and day-to-day spend; that should be Labour's differentiator; there's no need for short-term tax rises *except* for rebalancing investment and behaviour...
3/ ... stimulus also means defect scrapping central bank independence. I don't care what you do de jury but independence is already a myth. Monetary sovereignty's gonna be a powerful tool against collapsonomics in the 2020s...
Read 16 tweets
Paul Mason Profile picture
18 Feb
On Starmer's "reset" speech 1/ Tone better than content. He's genuinely indignant over the health inequalities Marmot points to, and with concrete language and examples - and policies - this will translate into an agenda for working class families...
2/ ... Roadmap to Yesterday a resonant phrase; inequality is economic stupidity likewise... and it was a "reset" in the sense of saying the phase of muted criticism during the pandemic is over... but...
3/ As I've said here: the case is clear for massive fiscal expansion now. Both Starmer speech and Dodds' Mais lecture frame permission for this - and he will be asked: how much is needed to build this new Britain... newstatesman.com/writers/315559
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @paulmasonnews has new unrolls!

Check out other threads from @paulmasonnews!

Read all threads by @paulmasonnews