Economy

The capitalists are eager for the COVID-19 crisis to come to an end. And with vaccines on the way, many anticipate a rapid economic bounce back. But the new normal will be one of crisis, chaos, and class struggle

Outlining the government’s latest spending plans yesterday, Rishi Sunak announced a wave of new austerity measures, including attacks on wages and welfare. The labour movement must fight for a bold socialist alternative.

A perfect storm of Brexit, the pandemic, and economic slump has accelerated the decline and demise of UK industry. The car manufacturing sector has been hit particularly hard. The unions must organise a fightback and demand nationalisation.

A recent report by Oxfam has shown how the capitalist class has grown ever richer from the coronavirus crisis. Meanwhile, ordinary people are faced with unemployment, poverty, and homelessness. This rotten system must be overthrown.

A huge cache of documents has revealed the criminality and corruption at the heart of capitalism’s biggest financial institutions. We cannot trust the ‘regulators’. To root out these evils, we need nationalisation and workers’ control.

While the real economy has fallen off a cliff in recent months, stock prices have reached record highs. Capitalism is nothing but a casino. In place of this speculation and gambling, we need a rational socialist economic plan.

There are no parallels to the current chaos wreaking havoc on society. This is no normal capitalist crisis. Revolutionary developments are exploding to the surface across the world. We need a leadership that is up to the task.

In the face of a deep economic crisis, the government has helped to prop-up small businesses with billions in state-backed loans. Now a wave of defaults threatens to engulf the system. Capitalism is chaos. We need a socialist plan.

UK firms are already shedding jobs due to the coronavirus crisis. This surge of cuts will become a deluge in the months ahead, as state support is removed. The labour movement must fight to make the bosses pay.

The UK economy is nosediving. Boris Johnson has promised a ‘New Deal’. But it is workers who will be presented with the bill. We must fight to make the bosses pay.

The stock markets were breathing a sigh of relief, with new economic figures showing a slowing rate of economic decline. But none of the problems have been resolved. And this uptick will not alter the prospect of a deep economic crisis.

As society begins to reopen, the ruling class is hoping for a return to ‘normality’. But the future will look nothing like the past. A deep depression looms, threatening to throw us back to the 1930s. We must fight for revolution.