The government of an advanced industrialised country may choose to engineer a sharp rise in unemployment in an attempt to restore profitability, or it may choose to try to cut wages. But both stratagems entail high risk. Combining the two is exceptionally high risk. Under the cloak of the public health crisis which their own policies have helped to create, the current government is attempting such a strategy.
The British ruling class is gearing up for an enormous offensive, compelled by the logic of capitalism itself.
The working class and its allies need to be prepared for the coming onslaught.
The claim from the Tory government and its army of media supporters that the latest Budget has ended austerity is completely false. It is very important for the left and the labour movement as a whole that they grasp the character of the new attacks to come, so that they can resist them.
The importance of Britain being in a Customs Union with the EU is highlighted by the recent exchange of letters between Jeremy Corbyn and Theresa May.
Labour, led by Jeremy Corbyn, has thrown itself full scale into the struggle to block a No Deal Brexit.
The claim for the latest Tory Budget is that ‘austerity is coming to an end’, and has been dutifully echoed by the Tory press and the BBC.
In reality austerity policies will continue long into the future, extending the longest recorded fall in living standards in this country.