I don’t know who needs to hear this but Socialists should not “cost” their policies. It gives the Right an excuse to divert attention away from the issues those policies are meant to address and towards dead-end discussions about ‘unaffordability’.
It is predicated on an acceptance of the enforced scarcity generated by austerity. And it forces activists into framing working class gains as an inevitable loss to someone else. As good as Corbyn’s manifesto was, costing it was its weakness, it was unorthodox & unnecessary.
There are some who find the manufactured scarcity instrumental in making a case for taxing the rich. But that is short sighted and unimaginative. There are plenty of ways of arguing against inequality without staking the whole progressive agenda. Fight the two battles separately.
(At risk of making this thread too long) Now that ppl are organising outside of Labour I would hope they focus their narratives on *real* outcomes (e.g. No unemployment, no poverty, more equality, democracy etc.) and not on £ figures. Perhaps now they are more free to do so.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Why conceding the ‘scarce money’ narrative just to tax the rich is a bad idea. They hit back with this
“If we tax those investments we end up with less produced, less produced means lower wages and lost pensions, that means a worse life for all of us.” bbc.co.uk/news/business-…
We see it time and time again:
Right: “we want to reduce deficit”.
Left: “I agree it’s necessary let’s do it by taxing the rich”.
Right: “good you agree it’s necessary, so best make sure we don’t spook the investors who have all the money. Let’s not tax the rich”
Once you concede you are dependent on the rich for investment you also undermine your argument for limiting their profits.
That’s why Thatcher made sure people believed the Government had no money of its own.
I never thought I’d see the Chancellor of the Exchequer predict unemployment and poverty with a smirk. As if he wasn’t directly responsible for any of it. #recession
Raising wages of nurses and other public sector workers could have gone some way into avoiding this recession. They chose not to.
Increasing universal credit entitlements and reducing waiting times could have helped avoid this recession. They chose not to.
Offering emergency cash, rent holidays and job guarantees in the public sector could have helped avoid this recession. They chose not to.
Reminder that The UK Govt wasn’t “bankrupt” after the 2008 crash.
The Govt bailed out the banks, not the other way around. And austerity was neither necessary nor good.
No. The U.K. wasn’t “bankrupt” in the 1970’s. It ran down its foreign reserves foolishly trying to target a foreign exchange rate. And the IMF deal simply served to masquerade politicians support for austerity by helping them pretend it was imposed on them.
Leavers in particular should understand this. Bc it’s also what the EU does.
#MMT At it’s core it’s just a description of how money works. How money was created as a means for authorities to command resources (in the old days kings etc, but now more democratic govts).>
Greece was never bailed out. They bailed out German & French banks, who held Greek debt. This stabilized Germany & Frances economies post crisis, while the Greek ppl were punished w severe cuts and forced to run a fiscal surplus. They never saw the money.
The bailout allowed Germany & French Govts 2 keep political face in their countries (They had lost control of banks lending in the run up to the crisis), While presenting Greece as lazy & irresponsible.
They also promoted the narrative that they were “saving” Greece.
The Greek were forced to accept the terms of the bailout with threats of closure of banks, immediate cut of subsidies,etc. When ElectedGovts didn’t comply, They replaced them.
Hundreds/thousands have died & Greece’s public assets have been pillaged by profit hungry corporations