Osborne Part 2 – The Destruction of Our Trade and Industry

According to the Office for National Statistics, George Osborne’s economic plans are not delivering. The ONS identified that the trade deficit had widened even further to £10.35 billion in the last quarter of 2015 up from £8.7 billion in the previous quarter. It is evident that despite the rhetoric of Osborne, the vacuous faith in an export led economic recovery has evaporated.

The answer to all this is straightforward. We need an industrial policy that promotes British trade on a global basis, one that supports manufacturing and one that supports all businesses to export across all continents. We need to grasp the fact that the European Union will not provide the answer; trade with the EU is already in decline and Britain needs to target new and expanding markets if it is to provide an economy that is robust and prosperous.

Our underlying reliance on services remains, something that has meant Britain is continually susceptible to economic slowdowns. The destruction of wealth creating industries and manufacturing since the late 1970s has created an economy where Britain can no longer trade its way out of any downturn.

In recent months Britain has seen its steel industry massacred. Billions were poured into propping up the corrupt banking system but there has been nothing more than hand wringing for the thousands thrown out of work.

Neoliberalist free market ideology is not working – it is failing Britain. Osborne hails the tax dodging payments of Google as a good deal for the country. No doubt he views the thousands now thrown on to the dole queues in a similar vein. It is evident that he should also join the queue of unemployed.

The Workers’ Party Twitter Feed

Trump has said if they manages to keep the death toll to 100,000, they’d be doing a “very good job.” Instead of protecting US citizens, his administration launches a campaign of misinformation & anti-China conspiracy theories blaming China for Covid19.
https://thegrayzone.com/2020/04/01/us-conspiracy-theory-on-china-coronavirus-trump/#more-22821

Economically speaking we would expect food prices to go up Overall social cost of production is higher since the social wage has necessarily gone up Millions of workers are not working & yet, strangely for capitalism they are paid, albeit less than before
https://theworker.org.uk/

Shut the Sites! call for building sites to close, so that building workers do not become infected by COVID 19. Construction magnates have too much influence over the government.
Penalties set by large corporations for late completion, must be banned
https://www.union-news.co.uk/coronavirus-will-spread-like-wildfire-workers-calls-for-construction-sites-to-be-shut/

We are living in difficult times, being encouraged to socially distance ourselves. It is essential that our union organisation remains intact. Indeed, in this environment our collective organisations are not only needed but should be made to thrive. https://digital.tuc.org.uk/working-remotely-for-trade-unions/

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