The Budget and subsequent measures are intended to be transformational; a major step on the road to thoroughly ‘Americanising’ the British economy with low taxes, low wages, privatisation, deregulation and union-busting that are already designed to boost the profit rate.
An emergency budget is due on September 23. Liz Truss’ government will borrow £150bn to give to the already engorged energy companies. Kwarteng, the Chancellor, will further redistribute wealth to the rich, whilst speaking about the importance of growth with no policies to achieve it. The people pick up the tab.
The economic project of the Truss government overall has no prospects at all of meeting its stated aim of increasing the trend rate of growth in the economy.
The sole important obstacle to severe further damage to living standards, public services and wider society that are central to the project is the resistance being mounted by many trade unions and their members.
The left suffered a set back in the NEC elections. Momentum divided the left and attacked one of its most popular candidates, instead of joining a campaign to unite the left against the right.
The biggest strikes so far this summer will begin on Friday 26 August as 115,000 postal workers will come out for a “dignified, proper pay rise”. They should be supported across the entire labour movement.
Support the barrister’s – taking strike action from 5 September.
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