debating progressive politics in Europe and beyond
Britain entered the financial crash with the second lowest debt-to-GDP ratio in the G7 and cross-party support for the Labour government’s spending plans. An unprecedented fiscal and monetary stimulus – supported by the G20 – helped prevent an economic catastrophe. By March 2010, the Labour government had set out plans to halve the deficit within [...]
Fiscal deficits can be managed and are less dangerous than cuts. In Britain, the Conservative Party and their friends in the mainstream media and City are using the recession to launch an assault on the solidarity of the welfare state. Over the summer, the Labour Party was embarrassed over its ‘investment versus cuts’ narrative when [...]
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