Economist deconstructs Keir Starmer’s economic policy

Richard Murphy, is a professor in political economy, accounting and sustainability.

Reacting to news that this Autumn's budget will be "painful", the political economist questions Labour's tax and spend plans.

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[absaly]

inflation & austerity means more for 1%
and less for everybody else

[Nexus]

Hasn't the last 14 years proven that austerity didn't get us out the hole?

[polyphonics]

10-ish years of austerity didn't work for the Tories and it certainly isn't going to work for Labour.

[idio-syncrasy]

Austerity will kill the country and many people.

[Millerj]

Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growt

[gordoncharles]

Same group of people are still in charge, just a different bunch of puppets in HOC doing their bidding.

[austinbar]

Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.

[mjstr]

As a teacher it's nice to hear someone who gets it. I'm looking to leave after 11 years of teaching, the demands on SEN is insane and the support system is so slow or just not there.

[Peter-Ac]

whatever the answer is; austerity is definitely not it
The poorest have to be given more money because they will spend it here and it will help local businesses to grow and that's the beginning of a virtuous
upward spiral

[colinmccall]

I have a lot of time for Richard Murphy. I was hoping for a glimmer of hope, but he's snuffed that out, probably rightly. I can only hope Starmer has got something up his sleeve, but going by his speech, it's not looking likely. Neo-liberalsim rules.

[SteveGouldinSpain]

When Starmer chased the socialists out of the temple he banished empathy from the party.

[theequaliser]

The working class are sick of it why doesn’t the government just turn the island into an open prison because that’s what it feels like

[mystation]

Of course he has choices. If I remember rightly, Gary Stevenson of Gary’s economics here on YouTube explained to the Labour Party what to do. Kier starmer is opting to do as he pleases instead of trying given options for reducing austerity.

[davidmcculloch]

Richard and Prof Danny Blanchflower have joined together as the Mile End economists to show a better way for Labour. Starmer should listen and engage.

[AlexanderHiner-gb]

I’m so depressed now. For myself, my wife, but above all for my 21 year old son. Who can sort this shitshow out?

[joeljones]

Austerity and blaming the previous regime is not Change its exactly what George Osbourne said. He said we needed to suffer Austerity so as not to leave £1 billion of debt to the children. The debt is now £2.5 trillion.

[bigdaz]

More Austerity? No.
Just the continuation of Austerity that began 14 Years ago and never actually ended for 95% of the people that live upon these Wretched Isles. Plenty of Cash for Ukraine and Israel though no doubt LOL.

[hughjorgen]

Basically the money is always there. Just not for you or I.

[ChrisDolan-tqvg]

I think he is right on Rachel Reeves no wonder Osborne likes her. Of course Labour is continuing with austerity.

[Skylark_Jones]

"He could very simply equalise capital gains tax and income tax rates and make £14bn a year, he could charge VAT on the supply of financial services by banks and other people and that would raise £8bn: add those two together and I've just found the £22bn he needs...solved Keir, your tough decisions are over" BOOM💥