Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/787/17685

From The Socialist newspaper, 6 November 2013

A joyless economic recovery?

Ross Saunders

The UK economy will shortly become the fastest growing economy in the western world predicts the ICAEW (the body which represents accountants).

The bosses' organisation, the CBI, has also stoked optimism with a prediction of higher growth than it had anticipated - 1.4% for 2013 and 2.4% for 2014, up from 1.2% and 2.3% respectively.

This follows the Office for National Statistics reporting that the economy has improved consistently all year and was now registering "fairly strong" performance not just in services but across several sectors including construction and manufacturing, the best since 2010.

So where's our share of the 'recovery'? If any readers of the Socialist are expecting to benefit from this 'boom', then prepare to be disappointed!

The evidence of recent history shows that any increase in wealth from growth in the economy, without a determined effort to prise it out of the hands of the capitalists, will not automatically translate into better living standards for the working class.

The National Institute of Economic and Social Research calculates that real wages won't be back to their pre-recession peak until 2019!

The Trade Union Congress reckons that on average each worker is £2,000 a year worse off since the start of the last recession.

The figures show we've been getting poorer, while the wealth we create gets swallowed up by the capitalists.

According to the Sunday Times Rich List 2013 the top 1,000 UK fat cats' combined wealth amounts to almost £450 billion. That's an increase of more than £35 billion from last year

There's been no austerity for the rich, and now there's no recovery of living standards for us. There are more families made homeless having to be housed in temporary bed and breakfast accommodation than at any time in the last decade.

And it's not just those who are out of work who have been hit. Over six million of those in poverty in Britain are in working households.

It's an indictment of the profit system of capitalism that over half of benefits are now claimed by the low-waged because scrooge employers won't pay enough for workers to live on.

Working class people have to fight in the workplaces for economic justice and build a socialist political alternative to capitalism - the only way that lasting prosperity for the millions can be achieved.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 6 November 2013:


Socialism 2013

Socialism 2013 - reflecting a thirst for ideas


Socialist Party news and analysis

Nationalise the energy companies

End the witch hunt of Stevie Deans and Unite

Fight for a living wage!

A joyless economic recovery?

Them and Us


Socialist Party interview

This is no UTOPIA


Socialist Party workplace news

Joint strike by university staff

FBU strike: Determination to force government back

Postal strike called off for now

Warrington bus workers striking against pay freeze

Bosses find new ways of turning the screw

Workplace news in brief


Socialist Party reports and campaigns

Trade union action needed to protect London NHS

Build a mass movement to defeat workfare and all cuts

Nuneaton: 18-year old student stands for TUSC

Waltham Forest's 'join' week of action success

Huddersfield students say: Save our bar and café!


Reviews and readers' comments

No Fire Zone reveals truth of war crimes against Tamils

Book review: Marxism in Today's World

Answering Tory lies about teachers


 

Home   |   The Socialist 6 November 2013   |   Join the Socialist Party

Subscribe   |   Donate   |   PDF  |   ebook






Related links:

Economy:

triangleA socialist approach to Corbyn and a customs union

triangleSocialist Party congress 2018

triangleSpring Statement 2018: Tory austerity staggers on despite economic and political weakness

triangleTory infighting escalates - workers' action can oust them

triangleAmber warning lights flash on British economy

Rich:

triangleBillions for the bosses, benefit cuts for us

triangleMajority of kids poor in some areas

triangleCapitalists fear for their system at Davos

triangleFor workplace trade union organisation against sexual harassment

Capitalism:

triangleLewisham & Southwark Socialist Party: Reform or Revolution?

triangleBristol South Socialist Party: France's 1968 'Month of Revolution'

triangleThe life and legacy of Martin Luther King

News and socialist analysis

News and socialist analysis

18/4/18

Racism

Enoch Powell's racist 'Rivers of Blood' rant 50 years on

18/4/18

Labour

For a fighting, democratic Labour Party

18/4/18

Them & Us

Them & Us

18/4/18

Super-rich

Billions for the bosses, benefit cuts for us

18/4/18

NHS

1,400 beds empty as patients lay in corridors: health unions must act now

18/4/18

Housing

Young people need homes

11/4/18

EU

A socialist approach to Corbyn and a customs union

11/4/18

Child poverty

Child poverty to hit 5m by 2021 - strikes can stop the cuts

11/4/18

Equal pay

Gender pay gap figures show need for trade union action

10/4/18

Young people

Alienation and austerity behind London deaths - fight for socialism

4/4/18

Labour

Fight the Tory enemy

4/4/18

Northern Ireland

Northern Ireland: peace process on the brink

4/4/18

Brexit

Right-wing Vote Leave campaign may have broken spending laws

4/4/18

Retail

Retail crunch: even giants not immune as 21,000 jobs disappear

4/4/18

Elections

End the housing crisis! We can't wait till 2022!

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


April 2018

March 2018

February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999