Saturday, 6 October 2012

Austerity applesauce

Any new Mayor of Bristol will have very hard budget choices forced on them it seems, given that, 'One of the first jobs facing Bristol's incoming elected mayor will be to cut an extra £25 million from the city councils budget. The authority has revealed it faces making deeper cuts than first anticipated as funding from central government is reduced.' (see here). However, that should not stop whoever the Mayor is from giving voice to the growing numbers of people who see the complete folly of cuts and austerity economics.

Govt borrowing is up AND we've had savage cuts. In fact Govt borrowing is up in part BECAUSE we've had savage cuts. Cuts are depressing economic activity. Austerity policies, pronouncements, plans and actions have reduced confidence, reduced spending, reduced investment, increased costs to govt, reduced govt income...and have been a big help (!) in causing and then lengthening the recession we are still in (thanks to Dave, George, Nick, Vince and co). I support the case against austerity and cuts and for a Keynsian stimulus for our economy to get out of recession and going in a sustainable direction.

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