News and analysis

The
events of the past year or so, financial meltdown, political instability,
uncertainty over jobs and the threat that many workers could lose their homes
represents a huge shift in society, both internationally and especially in
Britain where the effects of the “credit crunch” have been particularly acute.
In the context of such a deep crisis the halcyon days of the “feel good factor”
and the “15 years of unbroken economic growth”, seem like ancient history.

Whose fault is it that nearly 30,000 workers have lost their jobs
with the closure of all the Woolworths stores? Not the workers, that’s for
sure. We are due to see an avalanche of job losses after Christmas. Unemployment
is nearly 2 million already, and due to hit 3 million in 12 months’ time. None
of these workers deserve to lose their jobs. They are the victims of a
capitalist system that is just not working. How can we make things better? If
we fight for work or full pay, the bosses would soon find them something to do.

In 1848 The Communist Manifesto opened with the line, "A spectre is
haunting Europe – the spectre of communism. " The spectre of Marx haunts
world capitalism still.The years of steadily rising living standards, of relatively full employment
have gone, never to return. This year, and for years to come, workers look with
trepidation at their future. Will they have a job? Will they still have a roof
over their heads?

The government has thrown its weight behind the
Hooper Report and decided to sell 30% of its stake in Royal Mail.
The background to all this is that Royal
Mail has been making shed loads of profit for us as a publicly owned company
for years. The trouble was that the Treasury has been using the Post office as
a milch cow all that time, siphoning off all the money. Then the government
complains that the firm hasn’t invested. No wonder!