Skip to main content
Advertise Buy the paper Contact us Shop Subscribe Support us
Get on your trampoline … again
In the run-up to the Budget there’s been much talk of ‘modern supply-side economics’ – but this latest ruse is merely another means to facilitate the rapacity of contemporary capitalism, warns VINCE MILLS

IN THE discussion around the Budget, you may have noticed the odd reference to “modern supply-side economics,” much beloved of the Biden and now the Starmer administrations. 

Supply side economics in Britain was an ideological approach shared by both Labour’s last administration and of course the Tories. 

There were two key elements to it. The primary drivers were tax cuts and deregulation on the expectation that both would encourage growth by incentivising economic activity and consequently that this wealth would “trickle down” to the rest of society, because, it was argued, in the face of globalisation there was little else governments could do.

Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
Features / 30 December 2024
30 December 2024
As polls show Scottish Labour’s support crumbling and Reform rising even among independence supporters, an urgent need emerges for an alternative based on public investment paid for by radical progressive taxation, argues VINCE MILLS
Features / 28 November 2024
28 November 2024
Without challenging the neoliberal framework of our economy or seeking more powers for Scotland, the Scottish Labour leader’s seeming break with Westminster policy rings hollow, writes VINCE MILLS
Voices of Scotland / 14 October 2024
14 October 2024
Under Starmer and Sarwar, both the UK and Scottish Labour Parties are committed to the dogmas of neoliberalism – although signs are that resistance is growing, argues VINCE MILLS
Features / 21 September 2024
21 September 2024
VINCE MILLS reflects on the Scottish independence referendum of 2014 which took place in a period of austerity following the great banking crash of 2007-08 and with deindustrialisation in full swing – a context of relevance today
Similar stories
Editorial: / 31 October 2024
31 October 2024
Voices of Scotland / 22 October 2024
22 October 2024
Putting the refinery in public hands could safeguard jobs, aid Scotland’s transition to Net Zero, reinvest wealth locally, and avoid past policy failures that devastated communities and fueled Scotland's drug crisis, writes LAUREN HARPER
Features / 15 March 2024
15 March 2024
SOLOMON HUGHES warns Reeves’s proposed national wealth fund hands City financiers control over billions in public money for big business — and we get... to pay!