By Stephen MacAvoy

George Osborne’s latest budget launched another assault on living standards of millions of people whilst defending narrow interests and further entrenched the policies that are creating economic stagnation. Only a clear break with these policies will prevent a detrimental impact on the living standards of the majority and years of slow growth.

By Bryan Connor

During the international financial crisis US imperialism has succeeded in striking further blows against its European and Japanese capitalist competitors. Data on the US economy to be published later this week will probably show US GDP has regained its pre-crisis level. That means an average zero percent US growth for three years – a terrible performance. But Japanese and European production are even worse, remaining below their previous levels four years into the crisis. The US, however, has been pursuing policies that worsen the economic position of its European and Japanese competitors – pushing Japan to engage in confrontational policies with its largest trading partner, China, and in Europe both cheering on every step of belt tightening in countries such as Greece and Ireland and trying to break up the Euro.

By Stephen MacAvoy

The formation of the Conservative-led coalition represents a sharp rightwards shift in the British political situation. Working class living standards are set to face an onslaught with the deepest public service cuts since the Second World War and the weakening of pay and working conditions of millions of people. The coming assault on the public sector far out shadows that undertaken by Thatcher.

Whilst all the mainstream parties fought the general election on the basis of cuts – a blatant attempt to restore capitalist profitability by making the working class pay for the economic crisis – the balance of forces for the working class under a Conservative led government, with a large majority provided by the Liberal Democrats, is clearly much worse than it would have been under a Labour government or Labour-led coalition.