IMGpapers

Newspapers of the International Marxist Group and its forerunners, 1968–1988

HEALEY BUDGET KAMIKAZE POLICY

Red Weekly No. 62, 25 July 1974 · p. 2 of the scan · 944 words

The scan: rw-no62-jul-25-1974.pdf (PDF, Marxists Internet Archive, opens at this page)

Uncorrected machine reading. This text was read by machine (Apple Vision OCR) from a scan of a newspaper page, and the page was cut into articles by machine, at the headlines found by their type size. Nothing has been corrected: expect misread words, text from a neighbouring article, and titles that are the machine reading of the headline, some of them only fragments. Quote from the scan, not from this page.
How this article was cut and titled: headline found by type size in the OCR geometry (split_tabloid.py); 1-2 of 6; machine-segmented newspaper page; uncorrected Vision OCR.

page 2 of the scan

going to affect anything important at all areas. the working class. how the monetary structure they unleashed now works.' ernment two increase.

Tight against unemployment. together?"

ale for their just demands. that system succeed in wrecking everything.

This means fighting for:

tion and unemployment workers control

MURRAY'S

The mini-budget" unveiled on Monday by Chancellor Denis Healey isn't His cuts in VAT are chicken feed compared to the 25% a year rate at which prices have been rising from January to June, Healey's doubling of the regional employment premium will not affect the dramatic rise in unemployment which is going to take place in the autumn, nor give any help to the 100,000 budding workers who are going to he made redundan: by the autumn or the tens of thousands of car workers in British Leyland and elsewhere who are facing the sack. Neither will it do much to stop the dreadful unemployment building up in central Scotland and other The reason Healey isn't able to alter anything important is not somply because he is a dyed-in-the-wool right-winger in a Government led by the scab of 1964-70, Wilson. It is mainly because nobody operating within capitalisin can do anything significant about the present economic situation.

British capitalism is mortally sack. The rate of profit, the only regulator the anarchy of capitalism possesses, has halved since the 1950k At one time capitalism could hope to increase both profits and wages through increasing productivity of labour. But that tequites investment. With the present rate of profit such investment simply won't take place under capitalism. The only real way in which profit can be increased at present is by vicious attacks against the living standard and ninditions of work of But even worse than the immediate attacks on the working class is the fact that the capitalist monster is now out of control. Faced with the absolute stagnation of the capitalist coonomy everything has to be thrown to the winds to get the rotting mechanism moving at all: As the Sanday Tinter Business Newr so frankly put it The Treasury let everything go -the exchange rate, inflation, a credit explosien - to get the economy moving in the first place,, _ Privately officia s adont that they do not know In the coming months inflation and unemployment are both going to soar. All anyone working within capitalism - including the Labour Gor.

can do is simply alter by a tiny bit the proportion in which the By cutting taxes Healey is trying to achieve 25% inflation and 800,000 unemployed instead of 20% inflation and 1 in Elion unemployed. At best be is trying to decide whether to attack the working class by throwing a large part of it into the absolute poverty of unerployment, or all of it into the relative poverty caused by soaring inflation, Bur in fact he can't it is quite likely we are poing to end up with 25% The struggle against this grinding capitalist crise is obviously going to be an uphill one. Great militancy is being shown by nurses, teachers, local government workers and many others in the wages fight. Fisher-Bendix, in their second occupation in two years, show the militancy needed in the But in the trade union leadership there are fundamentally wrong policies on how to deal with the growing general ecs nomic crisis. The TUC i proposing plans to try to make capitalisn. "work'. These woild speed up inflation still further to try and stop even a fraction of the coming rise in unemployment. This is at a time when a world eronomic slump will create 15 million unemployed in the advanced capitatist countries in the coming year and when even ruling class journals such ds The Economi writer A year from now Britain is likely to be suffering either I% million unemployed or 20% inflation or persistent industrial breakdown or even all three The TUC, on the basis of their ahsurd economic policies, declare that a "social contract has been achieved and the workers must give up the strug Instead of participating in this debate about whether to cut the throat of the working class by applying more of the saw of inflation or more of the razor of unemployment the unions should be uniting the working class to struggle for crucial demands - for example, for the defending and extending of thresholds when they run out in November - and deciding bow to take the economy out of the hands of capitalism before the convulsions of * A general strike to secure basic working cluss demands against infla* A trade union plan for the nationalisation of the economy under But the present position of the trade unions is a disaster. As the crazy vehicle of capitalism, propelled by the system of production for profit. heads towards the cliff's edge the position of the TUC is that all will be well provided the holpless driver is painted Labour pink and not Tory blue. That is a recipe for suicide, not for the defence of workers" interests.

need the money to do it with. in the world said Sheffield trades council viee-president. Annie Britton.

of Sheffieid trades council which had discussed the Working Women's Kathy Cirket, an AUFW shop steward and memher of the IMG moved the adoption of the Charter at the mecting. She explained: This Tharter is a means of uniting the trade union movement with women's groups and women's libration.

Sue Kenyon spoke on Charter phone in IMPORTANT do not just stop at the factory gates - the problems are also at home and nursery facilities are just as important as equal pay.

← Doctors to Act on ChileFUND DRIVE →

Something wrong on this page?