Britain has narrowly missed entering into a triple dip recession—for now. But George Osborne and the Tories have nothing to gloat about.
The latest figures show that the British economy grew in the last quarter—by a measly 0.3 percent. That brings it back to around the same as it was six months ago.
And the total economic output in Britain is still 2.6 percent smaller than it was when the crisis first set in during 2008.
No wonder a second credit agency stripped Britain of its triple AAA status in the last week even before the latest figures came out.
No one seriously thinks the British economy is recovering. Yet the Tories are sticking to their claim that austerity will solve the crisis.
But they have a problem. The Tories have been in office since 2010—and the crisis is continuing.
This is putting the coalition under increasing pressure.
Both coalition party leaders want to keep the support of their core voters while pretending to be a united government.
But they know they are in trouble.
So the Tories panic that the rise of the racist Ukip could scoop up the disillusioned Tory right.
And the Lib Dems fear that they could collapse if voters punish them for backing the Tories’ assault on workers and poor people.
All the main parties, including Labour, are offering some version of austerity.
This means the prospect of yet more cuts for the millions of ordinary people who are already struggling to survive.
But every time there is an opportunity to mobilise against the attacks, people take it.
Just look at the packed meetings organised by the NUT and NASUWT teachers’ unions last weekend
In Manchester and Liverpool over 1,000 teachers rallied around calls for a fight against the government’s attacks.
Teachers want to see action that brings them all out together to make the most of their potential power.
The brilliant result for Jerry Hicks in the recent Unite general secretary election showed there is a significant minority who want a fight.
Jerry won almost 80,000 votes, more than a third of the turnout.
These workers don’t want to be told that all they can do is wait for Labour when all Labour is offering is slightly slower austerity.
Socialists have to go for every opportunity to fight for action.
This sort of fight can get rid of the Tories and stop the imposition of the austerity that is wrecking our lives.