Economy

"Help to Buy" and the UK housing crisis

Details: Wednesday, 27 March 2013; Written by Adam Booth

As part of the recent Annual Budget, George Osborne, the Tory Chancellor, announced government plans for a new “Help to Buy” scheme, aimed at increasing the number of residential property purchases. Far from solving Britain’s housing crisis, Osborne and the Coalition have helped to create the conditions for yet another bubble that will undoubtedly burst. Adam Booth looks at the housing question in the UK and latest government policy.

Budget 2013: doom and gloom

Details: Thursday, 21 March 2013; Written by Adam Booth

Despite his best attempts, George Osborne, the British Chancellor, could not hide the doom and gloom of the UK economy from his annual Budget, given on Wednesday 20th March. Figure after figure highlighted the dire straits that the economy is in, and Osborne’s announcements only added further misery for working people and the poor.

Austerity isn't working: socialist policies needed

Details: Monday, 04 March 2013; Written by Socialist Appeal Editorial Board

The credit agency Moody’s has stripped Britain of its triple A credit rating, humiliating the coalition government. It comes on top of news that the UK’s economy shrank in the last quarter of 2012, whilst the other two main credit agencies have the UK on “negative watch”. All this increases fears of the British economy heading for a triple-dip recession. The austerity programme has failed and it has to be changed.

Pessimism at the Bank of England

Details: Friday, 15 February 2013; Written by Felix Lighter

The Bank of England, via its Monetary Policy Committee, has issued its latest report. Like every other report from the Bank for the last few years, this most recent document has sought to revise all previous estimates for the economy downwards. Once again, the representatives of capital are feeling pessimistic.

Why and how to nationalise the banks

Details: Monday, 11 February 2013; Written by Darrall Cozens, UCU

In September 2012, the British Trade Union Congress (TUC), at it’s annual meeting of delegates from the whole trade union movement, passed Resolution 27. For the first time in its history the TUC voted a resolution which called for the full public ownership of the banks and financial institutions. Darrall Cozens takes an in-depth look at the question of the nationalising the banks.

UK economy: not on the road to recovery

Details: Monday, 28 January 2013; Written by Adam Booth

As world leaders were meeting to discuss the global economic “recovery” at the World Economic Forum in the Swiss ski resort of Davos, official figures were released showing that the UK economy – far from being on the road to recovery – had shrunk by 0.3% in the last quarter of 2012. Adam Booth reports on the economic situation in Britain.

Britain’s Economy of the Walking Dead: Zombie Capitalism

Details: Wednesday, 05 December 2012; Written by Rob Sewell

Far from heralding a new promise for the British economy, the 1% growth figure announced a month ago has already been buried by a pile of bad news. Few economists are looking towards 2013 with any real hope. Socialist Appeal editor Rob Sewell explains why.