Wednesday, November 25, 2020

Austerity Returns (had it ever gone away?)


With every crisis within capitalism the price of it is paid by the workers in some way or other. With the COVID-19 pandemic while the pharmaceutical industries and the online home-delivery businesses and the booming stock-market look to the future with optimism, ordinary workers can expect more austerity cuts.

Millions public sector workers are to have their pay frozen. “This is austerity plain and simple,” said Dave Prentis, general secretary of Unison, the public sector union. 

“For all the government’s talk of levelling up, this spending review will level down Britain, hitting key workers’ pay and breaking the government’s promises to the lowest paid,” said Frances O’Grady, TUC general secretary.

Many retired workers will now see their future pensions reduced. A personal finance analyst at the investment platform Hargreaves Lansdown, said: “This is a horrible blow for pensioners, who will pay the lion’s share of the eye-watering cost of this move.”

Ignoring the increased plight of those in developing and undeveloped countries, the UK is to cut the amount given to foreign aid. Andrew Mitchell, a former Conservative international development secretary, said the aid cuts “will be the cause of 100,000 preventable deaths."

No comments: