Solidarity evening

A solidarity evening was held at the British Legion in Boscombe on Friday 28th September with food and a background ambience of soul and ska.

Guest speakers included Gareth Drinkwater (Unison) who gave an update about the SW NHS Pay Cartel and spoke about the leaked document which clearly showed their intentions were to reduce the Trusts’ wage bill from 68% of their overall budget to 60%. Click here more info about the cartel’s proposals.

James Meadway (Coalition of Resistance) explained how the govt’s programme of austerity and their refusal to move away from these policies was sending the country spiralling downwards into a deeper, longer recession akin to the 1930s. James also pointed out the great myth that is constantly peddled that the Public Sector is somehow responsible for the economic crisis. The fact is, public spending prior to 2008 by the previous Labour govt was 39% of GDP, under Major’s tory govt from 1991-97 is what 40% and during the Thatcher years of 1979-91 it was 41%. So the reality is, public sector govt spending was at it’s lowest for nearly 2 decades. This all changed following the collapse of Lehmans in the States, the domino effect it created to banks worldwide and the subsequent bail-outs that followed; including the £1.3 trillion bail-out by our govt to rescue UK banks. He also stressed the importance of everyone opposed to austerity to attend the mass demonstration in London on Oct 20th.

Neil Duncan-Jordan (Chair – BCP Trades Council) stated that, so far, the country has only seen a small chunk of the cuts and seemed oblivious to the fact that a further 80% was still to be implemented. So however bad it seems at the moment, things will only get much, much worse.

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How did we get here – New Economics Foundation

The UK has slid back into double-dip recession and Eurozone unemployment has hit new highs. Uncertainty stalks China, Brazil and other rising economies. We may be heading for a global recession.

Politicians call for austerity and little else. But spending cuts are economically illiterate. They wreck weak economies by locking them into a cycle explained by John Maynard Keynes over 80 years ago:

  • Cuts mean job losses and falling demand for goods and services.
  • Falling demand means firms sell less.
  • Firms selling cause wages to fall and unemployment to rise even more.
  • Demand for goods and services falls further.
  • Then, as demand collapses and economies shrink, debts become unpayable.

Breaking this vicious circle is the first step towards recovery. But we can’t return to the old world of chronic dependence on carbon and debt. Click here to view a short guide to how the crisis broke, and some ideas on how to get out of it.

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