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Rachel Reeves channels Philip Snowden: Labour’s 100-year love affair with austerity
The Chancellor is rehashing discredited Victorian economics, showing the party has learned nothing from a century of failed Gladstonian economics, ignoring Keynes and betraying workers, writes KEITH FLETT
TREASURY MIND: Rachel Reeves
The US reprisal of global nuclear proliferation, threatening a new arms race, could push the world to the brink of annihilation, warns SOPHIE BOLT of CND
SCIENCE AND SOCIETY ask how an 80-tonne whale that lives 200 years is so resistant to cancer
October 2025 was another Black History Month. Has Britain learned anything – or are we going backwards, asks CLAUDIA WEBBE
Real action is needed to make sure tragedies like that at Huntingdon never happen again. TSSA leader MARYAM ESLAMDOUST suggests some practical, achievable steps to be taken
VINCE MILLS sizes up the problems facing Your Party north of the border as it grapples with a range of policies, including its approach to Scottish independence
MARK SERWOTKA issues a rallying call to those committed to building a new radical socialist party of the working class to commit to real democracy, not imaginary or performative gestures
THE pedigree of Rachel Reeves and Keir Starmer’s political outlook — cutting pensioners’ fuel allowances, flagging cuts in public expenditure — reaches much further back in parliamentary history to Labour’s first chancellor Philip Snowden. He introduced his first and only Budget in May 1924 and later issued it as a pamphlet, the Housewives Budget.
Snowden had been a member of the Independent Labour Party, a populariser of socialist ideals and a temperance campaigner. However, he had a distinctly Gladstonian Liberal frame of mind when it came to economics. Churchill noted that Snowden shared the “Treasury mind” with the governor of the Bank of England. Reeves of course is a former bank economist.
Snowden saw the chancellor’s job as managing the economy in a prudent way and certainly not increasing public expenditure.
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Britain’s first woman Chancellor delivers the same old fudge, as Labour’s commitment to economic orthodoxy, seen throughout its history, always betrays working people, writes KEITH FLETT
Instead of responding to changed circumstances by adjusting policy, Reeves is using fiscal ‘rules’ as an excuse to force government departments to make even deeper cuts than she had already flagged, says CLAUDIA WEBBE
