Skip to main content
Labour's austerity is an economic blind alley
In his first of a new monthly economics column MICHAEL BURKE argues that public-sector investment is more effective, more productive than private-sector investment
Rachel Reeves

THE British economy continues to stagnate, with a series of negative consequences for prosperity including pay, poverty and public services.

This stagnation is long-term and so too is the decline in living standards. Cleary, a radical reorientation in economic policy is needed to reverse these trends.

There should be no room for complacency in Downing Street or elsewhere that the economy avoided the technical definition of recession — which is two consecutive quarters of economic contraction.

Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
Protesters show placards as Britain's Chancellor Rachel Reev
Features / 29 March 2025
29 March 2025
While slashing welfare and public services, Labour’s spring statement delivers a bonanza for death-dealing bomb merchants. We now see the true and terrible face of austerity 2.0, writes MICHAEL BURKE
CLASS WAR: The Bank of England in London
Features / 27 April 2023
27 April 2023
Driving down living standards is official policy, along with preaching to workers they must not demand better. In fact, only strikes and resistance will restore economic balance, writes MICHAEL BURKE
SOLIDARITY: A family in the ‘Give Back Express’ from Tes
Features / 14 March 2023
14 March 2023
In a two-pronged attack, the Tories are cutting wages and gutting unions — but we too, have an agenda to reverse all this. Join us to fight back, writes MICHAEL BURKE
Similar stories
Protesters show placards as Britain's Chancellor Rachel Reev
Features / 29 March 2025
29 March 2025
While slashing welfare and public services, Labour’s spring statement delivers a bonanza for death-dealing bomb merchants. We now see the true and terrible face of austerity 2.0, writes MICHAEL BURKE
the Bank of England in the City of London
Britain / 21 January 2025
21 January 2025
Experts warn not to overplay the risk of wage growth to inflation
RR+M
Features / 2 November 2024
2 November 2024
Comparing Budget measures to fictional Tory plans rather than actual spending levels conceals continued austerity, argues DIANE ABBOTT MP, as workers face stealth tax increases to bear the cost of economic stagnation
Chancellor of the Exchequer Rachel Reeves in her office at n
Britain / 4 October 2024
4 October 2024