Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page:

From The Socialist newspaper, 29 May 2013

Even the cutters say cuts aren't working!

Becci Heagney

Chancellor George Osborne has been warned: his austerity package is "playing with fire". Working class people know all too well the effects of the cuts - the painful slashing of our living standards, the hated bedroom tax, the hell of not being able to find a job.

But this warning has come from the International Monetary Fund (IMF), a body which has been responsible for austerity, exploitation and attacks on workers' rights around the world.

Osborne's claim that there is 'no plan B', which is used to insist on savage cuts, is being undermined.

Ongoing crisis

It is hardly surprising that there are questions about the Tories' economic policy. Britain's GDP is still 2% less than it was in 2008.

The private sector has shrunk for the last 15 consecutive months. Prices are rising at 2.4% a year while wages are basically standing still.

Osborne himself has had to extend his deadline for deficit reduction twice and has failed to reach his own growth targets. His solution? Pile on more misery for the working class.

But the IMF is not calling for restraint out of sympathy with us. David Lipton, deputy managing director of the IMF, made a speech on an assessment of the British economy.

He called for plans for investment into infrastructure to be brought forward, in an attempt to balance the 10 billion worth of cuts being made this year.

No friend of ours

But the IMF says this should be done by "streamlining the planning application process and removing regulatory uncertainty", ie removing democratic rights, as well as devolving responsibility to local authorities.

It also recommends that the government should hand bailed out banks RBS and Lloyds TSB back to the private sector.

The IMF is desperate for some sort of growth in the economy. Despite the government's optimism that a triple-dip recession was avoided, in reality the economy is stagnating and the much talked about "green shoots of recovery" remain to be seen.

The IMF's suggestions for growth also include more investment and more exports and a reduction in corporation tax.

However, they also warn about the effects of the ongoing eurozone crisis on the UK economy. If Britain is going to export more, who will buy the exports?

Plan S for socialism!

It is clear that the IMF criticisms reflect the panic among some in the ruling class. It's increasingly apparent that none of the capitalist governments or institutions have a solution to the acute crisis of their system.

The Socialist Party calls for investment in jobs, infrastructure and services but the capitalists are not prepared to do this because they see no profits to be made. We need to build a mass movement to demand governments carry out this investment.

But we have to go further too - we want nationalisation of the biggest companies and the banking system under democratic working class control and management, and a socialist plan of production and services to meet the needs of all.

Donate to the Socialist Party

Coronavirus crisis - Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • Our 'fighting coronavirus workers' charter', outlines a programme to combat the virus and protect workers' living conditions.
  • When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our special coronavirus appeal.

Please donate here.

All payments are made through a secure server.

My donation


Your message: 


In The Socialist 29 May 2013:

Scrap the Bedroom tax

Evict this millionaires' government

Campaign to stop bedroom tax evictions!

Socialist Party editorial

No to terrorism! No to racism! No to war!

Socialist Party news and analysis

Unite to fight racism!

Even the cutters say cuts aren't working!

This is what's 'not to like' about Free Schools, Boris

Nasty party exposed by equal marriage bill

Stop the NHS privatisation rip-off

Socialist Party review

Rotten greedy banks still threaten crisis

Socialist Party workplace news

PCS conference sends defiant message to the government

PCS Land Registry delegates commit to action

Strike action needed to save Royal Mail

Wales TUC conference - a missed opportunity

No future with Future Directions

Fire service cuts

Workplace News in brief

Socialist Party reports and campaigns

Haringey TUSC: trade unions and communities prepare for 2014

'Brilliant' South West conference sees record turnout

Fund the fightback in the SP collectathon

Boosting South West Wales paper sales

Socialist Party youth organisers meeting Sunday 30 June, 10.30am-4.30pm, London

International socialist news and analysis

Oppose Kazakhstan regime's latest campaign clampdown

South Africa: Eye-witness to the developing struggle

Riots expose inequality in Sweden

Sri Lanka: Working class beginning to move forward

Socialist Students

Salford Socialist Students help lead fightback against job and course cuts

London students fight union closure plan


Home   |   The Socialist 29 May 2013   |   Join the Socialist Party

Subscribe   |   Donate   |   PDF  |   ebook

Related links:


triangleImperialist tensions escalate as world economy teeters

triangleRevolution and counter-revolution in Sudan

triangleSudan: No to rule of the generals!

triangleVenezuela: resist the pro-imperialist coup!

triangleJordan: Workers and youth remove prime minister and demand end to austerity


triangleSafety overridden in drive to bolster the economy

triangleWorkers and young people need planning for jobs, not handouts for bosses

triangleBristol North Socialist Party: What happens after a crisis 2 - The Planned Economy

triangleThem & us


triangleThe Socialist Inbox

triangleDover: Solidarity with refugees - applause and cheers for socialist ideas to unite working class

triangleCovid-19 pandemic increases financial pressures on Welsh local government

Working class:

triangleTV: The English Game - how the working class made football the people's game

triangleWest London Socialist Party: The role of the working class in the struggle for socialism

George Osborne:

triangleOsborne evades Carlisle socialists

News and socialist analysis

News and socialist analysis



Extend eviction ban! Cap rents! Build council homes!



Testing shambles: unions must fight back



Covid and the campuses



North East lockdown: simmering anger at Tory incompetence



Fund NHS and pay rise now



Tory Covid chaos



'FinCEN Files' expose rampant financial corruption: nationalise the banks!



News in brief



Johnson's schools social-distancing lie



Britain's fragile Covid equilibrium is coming to an end



NHS workers: "We deserve a fair wage" - 15% now!



Capitalist profit and the race to develop a vaccine



Covid and the third sector: for public planning, not charity stopgaps



Under the microscope



'Covid marshalls' must be accountable to communities

triangleMore News and socialist analysis articles...

Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube



Phone our national office on 020 8988 8777


Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 079 8202 1969

East Mids: 077 3797 8057

London: 075 4018 9052

North East: 078 4114 4890

North West 079 5437 6096

South West: 077 5979 6478

Southern: 078 3368 1910

Wales: 079 3539 1947

West Mids: 024 7655 5620

Yorkshire: 077 0671 0041



Alphabetical listing

September 2020

August 2020

July 2020

June 2020

May 2020

April 2020

March 2020

February 2020

January 2020