Sunday, 12 July 2015

Austerity is a con #onn #olsx #austerity

Austerity is a con

Austerity is a con

The Tory austerity narrative is a simple and oft repeated one. It doesn't matter that "we've got to cut our way to growth" is nonsensical from a macroeconomic perspective, it's been repeated so often now that millions of people accept it as fact.

Some people (myself included) have maintained all along that it was always a simple con designed to give the Tories an excuse to continue their agenda of transferring ever more wealth to the tiny super-rich minority under the guise of bringing the national debt under control.

There is bountiful evidence that the austerity narrative is a misleading one, especially the myriad of counter-factual Tory slogans used to support it. They claimed that "we're all in this together" while handing the UK's income millionaires an average £100,000 per year tax cut and trying to defend 200%+ bankers's bonuses from new EU rules. They claimed they were "making work pay" whilst overseeing the longest sustained decline in average earnings since records began, and slashing in-work social security; and they claimed over and again that "Labour bankrupted Britain" when it was George Osborne that lost the UK's AAA credit ratings for the first time since the 1970s.

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