Newspaper article The Journal (Newcastle, England)

UK Needs to Spend, Not Cut

Newspaper article The Journal (Newcastle, England)

UK Needs to Spend, Not Cut

Article excerpt

D Brown castigates Jeremy Corbyn, suggesting he is a communist, which of course he is not - but he has socialist policies which will get this country out of the huge debt it is still building up at PS5,190 per second. Since 2010 this has more than doubled from PS0.8tn to PS1.9tn.

George Osborne forecast in 2010 that he would get it to zero by 2015. That forecast went back and back until, in 2016, he abandoned the making of such forecasts altogether because he was clearly failing. (The last forecast was for 2030.) Tory neo-liberal economics are clearly failing. Austerity does not work. Look at Greece, which has been forced into austerity by the EU and, despite selling off huge amounts of its assets, has doubled its debt over the last six years.

Jeremy is advocating what got the Western world out of 10 years of recession - the spending of money on infrastructure and arms, as the Second World War demanded.

While he is not advocating going to war (he voted against the Iraq war), he wants to see spending increased in order to grow the economy which is flatlining. …

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