Austerity isn’t ‘good housekeeping’: it’s dogmatic, risky and unjust
It's a measure of the triumph of the pro-austerity argument in Britain that George Osborne presented his latest round of cuts in the Commons last week - a down payment on the 25bn he plans to make over the next three years - as a "culture of good housekeeping" in government. Austerity as common sense.
With a historic general election victory under their belts, and Labour still obsessed with repudiating their own general election manifesto - and even trashing spending decisions Gordon Brown made seven or eight years ago - the Tories have a wide open field. But the forthcoming onslaught on the public services cannot be left unopposed.
Less than 25% of UK debts is owed to overseas investors and there is little evidence that bondholders want fresh cuts
Continue reading...