This category is for news and analysis of the present-day economic situation. For Marxist economic theory and history, head to Economics.
Even with the Tories’ election victory, British capitalism remains in a deep crisis – one that has been years in the making. Further austerity and attacks are on the cards. We must overthrow this decrepit system!
In the last week, Tata Steel bosses have announced that 1000 jobs are set to go from their British operations. Steel workers and their families in Port Talbot will be hit hard. The labour movement must fight for nationalisation.
The billionaires are terrified of the next slump. Whilst asset bubbles hide the scale of the problem, the capitalists know that the apparent recovery of the last decade cannot continue. This time we’ll make the bosses pay for the crisis.
British Steel Scunthorpe is to be taken over by Ataer Holdings, owned by a pension fund with a record of asset stripping and abusing worker rights. As long as the steel industry remains in private hands, workers will continue to suffer. Renationalise now!
Donald Trump has pulled back – for now – from ratcheting up protectionist measures against China. But regardless of the US President’s actions, tensions are increasing and the global economy is heading for a new world slump.
Official figures show that the UK economy has contracted for the first time in over six years – a harbinger of the oncoming crisis. Already, British industry is being decimated. It is time for the labour movement to go on the offensive.
The shipyards that once launched the Titanic are today also sinking into oblivion. This is yet another symptom of the decline of British capitalism and the crisis facing UK industry. The labour movement must fight for nationalisation.
As the crisis of British capitalism continues and deepens, more and more workers are being forced to find employment in the gig economy. The labour movement must organise and fight back against this exploitation.
A recent study has revealed the eye-watering inequality that exists in Britain, with the mega-rich of the top 0.01% laughing all the way to the bank, whilst the rest of us see attacks on living standards. This is capitalism.
The Ford plant in Bridgend, South Wales, is the latest closure facing workers in British manufacturing. To save industry and jobs, we need nationalisation – without any compensation to the bosses.
Thousands of jobs are under threat in the UK’s steel industry as a result of British Steel’s collapse. We need immediate nationalisation – with no compensation to the capitalist vultures.