Economics

Billions for bosses—job losses for us

Vast bailouts are being gifted to the bosses to boost the economy. But this won’t stop businesses from cutting jobs and the wages of workers

Rishi Sunak’s ‘kickstart’ scheme is an attack on workers that must be fought

Sunak’s Summer Statement was a mix of ineffectual half-measures and attacks on the working class

New Tory handouts will only help bosses

Tory chancellor Rishi Sunak was set to deliver his summer statement on Wednesday this week. It was expected to include a raft of measures in an attempt to prop up the British economy.

Johnson’s ‘new deal’ to bail out system

Boris Johnson’s promise this week of a “new deal” marked the latest dishonest move in a decade of Tory austerity.

Is EU singing from Hamilton songbook?

Alexander Hamilton, one of the brilliant group of “founding fathers” of the United States and its first finance minister, was once remembered mainly because he was killed in a duel by vice president Aaron Burr in 1804.

Bosses will use debt crisis against poorest

On the other side of the pandemic, many fear there will be a debt crisis. This fear is mainly motivated by the huge amounts of money governments are spending to prop up companies and subsidise wages.

Patel’s pretend praise for NHS migrant workers is so pitiful

18 May 2020
Just a few short weeks ago home secretary Priti Patel was showering praise on migrants working in health and social care. Their “extraordinary contribution” would be recognised she said while hinting that the huge fees they must pay to use the NHS would be “reviewed”.

Economic crash could leave lasting scars

11 May 2020
The bank of England’s latest monetary policy report is a classic example of bad news and good news. The bad news is that the British economy will shrink by 14 percent this year.

As polluting industries face crisis - emissions must fall but workers should not pay

09 May 2020
Some of the world’s most high-profile polluters are faltering in the coronavirus crisis. And already, it seems like good news for the environment.

Imperialist rivalries heighten the crisis

05 May 2020
The Coronavirus pandemic represents a crisis that is simultaneously biological, economic, and political

Internationalism matters

28 April 2020
When the working class is faced with global crises, an internationalist response is needed. The coronavirus outbreak is clearly one such crisis.

Who will pay for the crisis now?

25 April 2020
A global pandemic has exposed just how fragile the world economy already was. Tomáš Tengely-Evans examines why capitalism constantly creates economic crises

Oil prices becoming ‘negative’ is a sign of more financial chaos to come

21 April 2020
On Monday night the price of West Texas Intermediate oil, used as a benchmark in oil pricing, plunged by over 300 percent to almost minus $40 dollars a barrel.

Big business still able to give handouts to the rich in pandemic

16 April 2020
Don’t listen to bosses bleating about corporate hardship, they are still preparing to deliver tens of billions of pounds in dividends to shareholders.

Uncertainty for workers as Debenhams unable to pay debts

06 April 2020
More than 20,000 workers at Debenhams fear for their jobs after the company began its third insolvency process in a year on Monday.

Lockdown policies hit the Global South

06 April 2020
There’s an old cliche about the economy falling off a cliff. This time it really has, all over the world.

The ‘national interest’ is not the interest of workers

22 March 2020
During times of turmoil, the ruling class will tell us to come together. Behind this is the drive to keep making profits writes Nick Clark

Workers must not pay for the corona crash

10 March 2020
Bosses must not be allowed to make ordinary people pay for coronavirus or the chaos in the financial markets.

Lebanon debt default sparks IMF fear

10 March 2020
Lebanon defaulted on a foreign debt payment for the first time in its history this week.

Bosses’ virus fears are only for profits

09 March 2020
“New data paint grim picture of coronavirus fallout,” read a headline in the Financial Times newspaper last week. My heart sank when I saw it. But when I anxiously scanned the article, it wasn’t about the spread of the coronavirus or the deaths it is causing.