Saturday, 15 November 2014

What has austerity achieved?

Andrew Fisher 

These are notes from a workshop at the Croydon Assembly where I gave a quick introduction - listing 10 acheivements of austerity:
  1. Austerity isn't cutting the deficit - even during a recovery - the deficit is rising this year, up 10%

  2. UK has the largest deficit in Europe

    In 2010 Osborne said he would eliminate the deficit by 2015. Actually the deficit won't even be halved with a deficit of £85-90 billion expected at the end of this financial year

  3. We now have the largest budget deficit in Europe (it was fifth largest in 2010)

  4. Osborne has borrowed more in four years than Labour did in 13 years

  5. Average incomes are down 8.5% under this government 

  6. Average incomes are falling

    Last year, with the economy growing again, only the highest-earning 20% of households were better off, the other 80% were worse off

  7. Poverty has increased by a million under this government and child poverty increased by another 100,000 in the last year alone

  8. Homelessness is up and eviction of tenants is at an all-time high

  9. Corporate profits in the service sector are at their highest annual level since 1998, but personal debt is rising again

  10. Austerity has now been extended to at least 2019 - and is set to intensify after 2015 

The slogan of the main political parties with regards to austerity appears to be: "If it ain't working, don't fix it".

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