Rebalancing Britain (Part Two): A Better Economy – A Labour Economy
Where to Start?
In 'Part One' Prioritising support for the most economically vulnerable an disadvantaged is identified as Labour's Top Priority. Several major issues and initiatives must also be dealt with in short order:
Inquiry into Government Spending - During C-19 crisis - follow the taxpayers money – outsourcing, lack of transparency and tendering, waste, jobs for their friends, Tory donor beneficiaries – Tory Party donations, No 10 Wallpaper, sleaze, sleaze, sleaze etc etc Follow up with criminal prosecutions where possible, and a root and branch overhaul of the rules governing such conduct.
Tackle a Great Big Tory Lie – But which one from the enormous catalogue?
How about blaming Labour for the 2008 global financial crash which gave the Tories the pretext for discretionary, ideologically driven austerity – 'choice not necessity'?
It seems absurd that so many people have been prepared to believe that a world wide banking crisis was caused by Labour 'overspending'. Also typical Tory hypocrisy, as they have always favoured less financial regulation, and many of them will have personally benefited financially from the speculative overindulgence.
Imposing austerity was economic illiteracy combined with political opportunism.
They wanted to cut pubic services and roll back the state, while reducing some taxes to reward their friends and donors as well as themselves. The 'deficit' gave them a pretext and 'the lie' was successfully broadcast far and wide. Of course the right wing media were highly complicit
Establish a National Recovery Commission - Think Tank with Labour's Treasury team, leading economists, environmentalists, pandemic experts, business leaders, trades unions – invite Gordon Brown, Alistair Darling and Mark Carney to participate because of their prior experience of 'crisis' as well as their proven expertise.
Reduce the Deficit Post C-19 – Economic growth is the most desirable means to achieve deficit reduction – reflate not deflate – austerity must not be revisited - Tories already showing their true colours with Sunak's plans for Austerity Mk2.
Evaluate and Implement 'Modern Monetary Theory' - MMT as the new approach to UK public finances and deficit reduction. MMT help fund the 'National Investment Bank' and the 'National Public Housing Bank' - below
British Recovery Bond – To finance the National Investment Bank and the National Public Housing Bank along with discretionary MMT.
Post-Brexit Trade with the EU – From day one - work towards rejoining the EU Customs Union and Single Market
Post- Brexit Trade with the Other Counties - Scrutinise and revisit Tory post Brexit trade deals- to protect the NHS, the environment, human rights, workers rights, food and animal welfare standards
Reversal of Privatisation /Outsourcing - Throughout our public services and selective re-nationalisation on a priority/ phased basis
Nationwide 'Green' Initiatives
National Investment Bank – Supporting public sector, co-operative and private sector – main focus 'Green' infrastructure and manufacturing projects. Focussed regional planning to reduce imbalance.
National Public Housing Bank – Fund 'Green' housebuilding revolution including Social Housing and major precision manufactured housing (modern prefabs) initiative.
Environmental Boost – UK wide co-ordinated mass tree planting – model based on diverse species.
Other Policies in final part to follow:
Rebalancing Britain (Part Three) : Tax, Incomes, Workplace Democracy