Seems a bit silly. Or is it? Modern Monetary Theory reminds us that governments of countries that have their own currencies and floating exchange rates (like in the UK), by implication, can never 'run out of money' or have to be dependent on taxation revenue and private borrowing to finance their activities. In other … Continue reading There is a ‘magic money tree’
Published ten years after the financial crisis and comprising articles by contributors to Labour’s New Economics conferences, Economics for the Many provides a set of alternatives to Tory austerity. It addresses issues from public ownership, to rising consumer debt, control of the banks, tax avoidance and the need for a Green New Deal. A book … Continue reading A definite read
John McDonnell’s Labour Conference commitment to put workers on company boards was met with predictable hostility from employer representatives. Yet Germany, the Scandinavian countries along with several other European states, have long standing policies for employee participation, even if it might not be as extensive (McDonnell proposes 30% representation). Likewise, allocating a proportion of company … Continue reading Putting workers on the boards
In the context of this week’s report from the Migration Advisory Committee (set up to advise on immigration policy post-Brexit), it’s worth outlining the nature of European migration to the UK and the implications of the MAC proposals. By the end of 2016 there were 2.2 million working EU migrants -7% of the labour force. … Continue reading Post-Brexit immigration and skills policy
While opposition to Tory cuts continues, Labour has huge support for its commitment to restoring school budgets. At the same time however, the Party leadership also promises to ‘balance the books’ and maintain ‘fiscal credibility’. By this it means that over the course of a five-year Parliament, current (day to day) expenditure will be largely … Continue reading How should Labour finance education and public services?
Jeremy Corbyn’s recent speech to engineering and manufacturing employers has ( as is generally the case!) been misrepresented. Launching Labour’s Build it in Britain, Corbyn has been accused of wanting to establish a ‘protectionist’ blanket around UK manufacturing and by implication being ‘pro-Brexit’ even though it’s questionable whether there’s anything in EU legislation that would … Continue reading Labour and Industry
After last week’s budget, we now get the government’s equally uninspiring ‘industrial strategy’. Based on proposals published in January of this year, the 250 page Building a Britain fit for the future claims to provide ‘a new approach to how government and business can work together’. Nothing could be further from the truth. It’s more about the … Continue reading Wanted: a POST INDUSTRIAL strategy