Corbyn steps up Labour’s campaign into May’s elections
With elections due in five weeks, Labour is intensifying its campaign for an alternative to government policies. The current focus is on the steel industry whilst over Easter it was education. These campaigns follow on from Labour’s success in pressing the Tories to U-turn on their Budget’s proposals to cut disability benefits, maintain value added tax on women’s sanitary products and on solar panels.
By Stephen Bell
In 1916 the Easter Rising represented the resumption of the struggle for Irish freedom. The decision in 1914 of the Irish National Volunteers and the Irish Parliamentary Party to support the British government in the inter-imperialist war effectively subsumed the national movement. By 1916 hopes for an early victory by either side in the war had disappeared. It was time to reclaim hope for Ireland at home, from its slaughter overseas.
Economic targets for China were announced during the National People’s Congress of at least 6.5% annual GDP growth during the 13th Five Year Plan in 2016-20 and 6.5%-7.0% for 2016. Some Western economists claim such targets cannot be achieved. In fact, analysis of supply side factors, which will primarily be relied on to achieve these goals, shows clearly why China can achieve its 6.5% minimum growth goal.
Labour’s opposition was instrumental to the Tories’ Budget crisis
Less than one year after winning the General Election the government has suffered a significant setback under the pressure of Labour’s attacks. The Tories have been forced to reverse a number of budget proposals, the Chancellor’s reputation for competence is in shreds, a cabinet minister has resigned, Tory infighting has intensified and Labour has advanced in the polls.
John McDonnell’s announcement of a ‘Fiscal Credibility Rule’ lays the foundation on which Labour can restore its economic credibility and correct the key policy failure that lost it the 2015 General Election. Jeremy Corbyn’s anti-austerity agenda is now underpinned with a sound economic framework. These policies to improve people’s living standards should set Labour’s agenda for its fight against the Tories. To guarantee this advance can be maintained it is necessary to remove the threat of a leadership coup.
The following article by John Ross, setting out why the Chinese economy will not have a hard landing, was previously published by Socialist Economic Bulletin.
Some US hedge funds, echoed by parts of the international media, are currently trotting out the perennially inaccurate myth that China’s economy is about to suffer a “hard landing.” This invariably incorrect prediction has been periodically repeated for decades since China launched economic reforms in 1978. The claim then was that by failing to privatize companies, not adopting what became known as “shock therapy” in Russia and Eastern Europe, China condemned itself to stagnation. Instead in 1978-2015, China experienced average annual 9.6 percent GDP growth – the fastest by a major economy in human history.
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