Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://archive.socialistparty.org.uk/issue/973/26530

From The Socialist newspaper, 29 November 2017

Historic fall in living standards

Make the Tories history

We are broke, photo Dan Moyle (Creative Commons)

We are broke, photo Dan Moyle (Creative Commons)   (Click to enlarge)

Nick Auvache, North London Socialist Party

What a shocker! "Families are now projected to be in the early stages of the longest period of continuous falls in disposable incomes in over 60 years - longer even than that following the financial crisis."

That was how the Resolution Foundation think-tank greeted Chancellor Philip Hammond's recent budget.

While some Tory MPs may have hailed it as a success, for most of us it was another disaster. It will deepen the economic misery that working class people face.

But it appears that not all families in Britain are alike. The think-tank's report added that the poorest third of households could lose £715 a year if the Tories last till 2022. Meanwhile the richest third would gain £185.

This is further proof that we can't wait for a general election. We need this government of spivs out now!

Further revelations paint the picture of a land mired in poverty with little prospect of things improving - underlining the need for socialist change.

The average set aside for savings has slumped to just 1.7% of disposable income - for those who can even afford to save. The average over the last 50 years was closer to 10%! Borrowing is up, as is inflation.

In short - we are being paid less, so we can't save. And to twist the knife, prices are rising.

This is the brutal reality of life under this broken capitalist system. But it also presents an opportunity for the trade unions to mount a national campaign to say enough is enough.

The government is on the ropes, as u-turn after u-turn showed in the run-up to the budget. Mass demonstrations and coordinated strikes could push them out the ring.

Hammond attempted to fend off criticism with a more relaxed approach to borrowing. But this is a drop in the ocean compared with what would be necessary to restore living standards to pre-crisis levels.

Meanwhile, working class people are already forced to borrow just to make ends meet. For us there is no relaxed approach. The only things that would help us relax would be wages rising, living costs falling, an end to the cuts - and the Tories out of office.

Donate to the Socialist Party

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 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.
  • 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 Fighting Fund.

Please donate here.

All payments are made through a secure server.

My donation

 

Your message: 

 


In The Socialist 29 November 2017:


What we think

After the budget - unions must launch pay fight


Socialist Party news and analysis

Make the Tories history

Tory housing policy: build zilch, hike prices

Them & us


Socialist Students

Socialist Students day of action demands free education


Refugees

We're fighting for the right to live and work in Britain


Workplace news and analysis

Birmingham bin workers win!

North West: drivers and housing workers escalate strike wave

Kirklees bin workers ballot for strike over schedule and bullying

Brighton Uni lecturers strike against job cuts

DWP to outsource more work to Capita

PCS union says no to pay misery


NHS

Save Glenfield Children's Heart Centre! Save our NHS!

'Hands around HRI' to save Huddersfield A&E

Tyneside to protest against A&E and walk-in cuts


Socialist Party reports and campaigns

Bristol libraries safe - for now - as council caves to pressure

Osborne evades Carlisle socialists

New ebook: Liverpool A City That Dared To Fight


Economy

Amber warning lights flash on British economy


 

Home   |   The Socialist 29 November 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Wages:

triangleFight for a socialist recovery

triangleObituary - Tony Davison: "I work for Militant, but Laing's pay my wages"

triangleWhat's behind the worker shortages, and what can be done about it?

triangleDHL workers to strike against wage theft

triangleHomelessness workers fight for better pay and conditions across sector

Tories:

triangleTories instruct teachers to wipe Britain's real history

triangleTories' 'partygate' crisis continues - kick them out

triangleTories' 'levelling up' falls well short

triangleTories attack UC recipients with 'get any job' threat

Government:

triangleTube workers strike in defence of pay, pensions and conditions

triangle"If we don't fight, we won't win!"

triangleCovid: Fight for full sick pay

Budget:

triangleBirmingham: Cuts consultations replaced by computer game

trianglePeople's Budget: We beat council cuts before, we will again

23/2/22

Workers

The Erdington byelection and the fight for a new mass workers' party

23/2/22

Birmingham

Vote Nellist for a workers' MP in Erdington

23/2/22

Unite

Unite and fight for a decent pay rise

23/2/22

NHS

Privatisation and crisis in the NHS

23/2/22

Covid

Johnson scraps Covid safety measures

23/2/22

Britain

Tories instruct teachers to wipe Britain's real history

23/2/22

Bus

Bus services under threat

16/2/22

PCS

PCS Elections 2022: Time for new union leadership

16/2/22

Britain

Britain's economic growth figures mask fragile false recovery

16/2/22

Covid

Covid: Fight for full sick pay

16/2/22

Coventry

'Labour by name - Tory by policy'

16/2/22

Taxes

Tory stealth taxes burden 'packhorse generation'

16/2/22

Labour

Left Labour MPs under pressure over Erdington

16/2/22

London

Neither Washington, London nor Moscow

16/2/22

Police

Met police boss ousted

triangleMore 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

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: [email protected]

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: 020 8988 8786

North East: 078 4114 4890

North West 079 5437 6096

South West: 077 5979 6478

Southern: 078 3368 1910

Wales: 077 7221 5281

West Mids: 024 7655 5620

Yorkshire: 078 0983 9793

ABOUT US

ARCHIVE

Alphabetical listing


July 2022

June 2022

May 2022

April 2022

March 2022

February 2022

January 2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999