Socialist Economic Bulletin. Investment not cuts: comment and analysis for the movement against austerity.
Joined January 2011
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𝐀 𝐛𝐮𝐝𝐠𝐞𝐭 𝐟𝐨𝐫 𝐚𝐮𝐬𝐭𝐞𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐰𝐚𝐫
Economist Michael Burke speaking about the 28 October 2026 UK budget
Socialist Economic Bulletin retweeted
The budget has left the wealthy relatively unscathed.
Neoliberals are targeting deep social security cuts. Will increase poverty & misery.
This graph shows total UK welfare spending as a percentage of GDP, 2013/14 to 2030/31 (spending and forecast)
lordslibrary.parliament.uk/w…
Socialist Economic Bulletin retweeted
Healey’s Budget? Austerity continues, war takes priority
morningstaronline.co.uk/arti…
Socialist Economic Bulletin retweeted
𝐀 𝐛𝐮𝐝𝐠𝐞𝐭 𝐟𝐨𝐫 𝐚𝐮𝐬𝐭𝐞𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐰𝐚𝐫
Economist Michael Burke speaking about the 28 October 2026 UK budget
Socialist Economic Bulletin retweeted
Living standards for non-pensioner families are set to fall for the rest of this Parliament ⤵️
ALT Change in median real equivalised household disposable income since 2023-24, for non-pensioners, after housing costs: UK
Socialist Economic Bulletin retweeted
Excellent. "If the govt. stopped contributing to these conflicts and redirected its priorities towards domestic needs, some of the pressures now used to justify austerity would ease. Not every fiscal problem would disappear, but the choices available would be considerably wider."
Healey’s Budget? Austerity continues, war takes priority
morningstaronline.co.uk/arti…
Socialist Economic Bulletin retweeted
“The political choice is unmistakable. When hospitals, schools, housing and infrastructure require investment, the government invokes fiscal constraints. When military commitments must be met, other capital budgets can be reduced to find the money”
▪️𝐆𝐮𝐧𝐬 𝐧𝐨𝐭 𝐁𝐮𝐭𝐭𝐞𝐫
Healey’s Budget? Austerity continues, war takes priority
morningstaronline.co.uk/arti…
Healey’s Budget? Austerity continues, war takes priority
morningstaronline.co.uk/arti…
Socialist Economic Bulletin retweeted
𝐀𝐧𝐨𝐭𝐡𝐞𝐫 𝐛𝐮𝐝𝐠𝐞𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐰𝐚𝐫 𝐝𝐫𝐢𝐯𝐞
* Funds for defence to increase; all other department capital budgets to be cut
* Minimal measures to tackle the cost of living crisis
* Further attacks on welfare expected
* No let up on Britain’s wars
Economist Michael Burke joins Maggie Simpson from No Cold War Britain, to talk about the Autumn budget statement.
The Times reports the volatile and unreliable measure of quarterly annualised growth.
Using the year-on-year measure US real GDP was 2.1% in the 3rd quarter, pretty much like the 2.6% growth in the 2nd quarter and 2% in Q1.
US economy grows 3.4%
thetimes.com/business/econom…
Socialist Economic Bulletin retweeted
Today outside Ofwat @andyburnham spotted handing a blank cheque to the privatised water industry
They've had enough since 1989
£82 billion debt added
£85 billion dividends
36% bill increase last year, now they want more
NO more water bill increases, NO Thames Water bailout
Socialist Economic Bulletin retweeted
Privatisation has failed
This Thursday 29th Oct shady Thames Water execs will meet dodgy US hedge funds to agree a £2.4 BILLION bailout that *households will pay for through increased bills*
@andyburnham has 3 DAYS to step in and STOP THE BAILOUT, take back Thames Water
Socialist Economic Bulletin retweeted
Nothing is stopping @andyburnham
He must step in by Thursday 29th October to stop the next bailout at our expense
Remove Thames Water's licence with special administration
Slash the debt, permanent PUBLIC OWNERSHIP, defend the public in court if needed
theguardian.com/politics/202…
Socialist Economic Bulletin retweeted
This ought to be a joke
If @Ofwat seriously wanted to stop poor performance it
- would have said NO to 36% bill rise last year
- would have said NO to £3.4 billion bill rise on top of that
- would be taking private water companies into PUBLIC OWNERSHIP
independent.co.uk/news/busin…
It is ridiculous for the BBC to talk up the latest IMF forecasts as some important breakthrough.
1.3% real GDP growth this year and 1.2% next is just more stagflation, with CPI more than double the growth rate.
Socialist Economic Bulletin retweeted
The evidence is clear: countries with lower NEET rates than the UK get there almost entirely through higher rates of post-18 education. In these countries, more young people stay in education for longer and often combine it with work.
ALT Comparison of OECD countries’ differences from the UK in 2024 for 18–24‑year‑old participation in education or work
Socialist Economic Bulletin retweeted
and pensions are paid for through national insurance contributions and are a form of delayed income and are not a benefit as such
Socialist Economic Bulletin retweeted
Maintaining housing as investment asset is perhaps a more significant driver of our housing and rental cost crisis. Blaming immigrants in reality, obscuring investment demand for housing/rental income as asset class wealth formation suits the business and political right.
Immigration is the main driver of housing demand in both Ireland and Spain. It is long past time government slowed the pace of worker and student visa issuance to ease housing demand growth. It should not be controversial to say demand needs to managed, and it is certainly not anti-immigration never mind anti-immigrant.
