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| Budget shows Tories' true colours | Budget shows Tories' true colours |
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| George Osborne's latest budget confirms that austerity policies are set to continue for years to come (Budget 2013, 20 March). This is a call from economists and academics to all those millions of people in Britain who face an impoverished and uncertain year as their wages, jobs, conditions and welfare provision come under renewed attack by the government. It is important that people understand that there is a large body of opinion against these policies. | George Osborne's latest budget confirms that austerity policies are set to continue for years to come (Budget 2013, 20 March). This is a call from economists and academics to all those millions of people in Britain who face an impoverished and uncertain year as their wages, jobs, conditions and welfare provision come under renewed attack by the government. It is important that people understand that there is a large body of opinion against these policies. |
| With some 80% of austerity measures still to come, and with the government lengthening the time they expect cuts to last, we are calling a people's assembly against austerity to bring together campaigns against cuts and privatisation with trade unionists in a movement for social justice. We aim to develop a strategy for resistance to mobilise millions of people against the Con Dem government. Professor Ha-Joon Chang Cambridge Professor Hugo Radice Leeds Professor Stephanie Blankenburg SOAS Professor Ian Gough LSE Tom Lines Economic consultant Professor George Irvin SOAS Professor Malcolm Sawyer Leeds Senior lecturer David Hudson UCL Professor Diane Elson Essex Professor Sergio Rossi Fribourg Professor Andrew Dobson Keele Professor Frances Stewart Oxford Professor Alan Freeman London Metropolitan Sir Anthony Atkinson Oxford Professor Christine Cooper Strathclyde Dr Bruce Philip NTU Professor John Weeks SOAS Molly Scott-Cato Gaia economics Professor Simon Mohun London Professor Giuseppe Fontana Leeds Diego Sanchez-Conchea Oxford Professor Victoria Chick UCL Michael Burke Economic consultant Professor Simon Lilley Leicester Professor Andy Denis City Richard Wolff Senior lecturer John Simister MMU Professor Colin Richardson Imperial Professor John Ross Shanghai Professor Matthew Watson Warwick Dr Julian Wells Kingston Professor Judith Clifton Cantabria Professor David Byrne Durham James Meadway Senior economist, Nef Professor Andrew Cumbers Glasgow Professor Mario Seccareccia Ottawa Associate professor Anitra Nelson RMIT Ann Pettifor PRIME Dr Theodore Koutsobinas UWG Professor Guglielmo Davanzati Salento Professor Hartmut Elsehans Leipzig Professor Julie Matthaei Wellesley Professor David Harvey CUNY Professor Raphael Kaplinsky Open University Professor David Gleicher Adelphi Professor Geoffrey Harcourt UNSW Adjunct professor Steven Hail Adelaide Professor Noemi Levy-Orlik UNAM Professor Stefano Lucarelli Bergamo Associate professor Louis-Philippe Rochon Ontario Roy Rotheim Skidmore Professor Judith Mehta Dr Hideo Shingu Kyoto Professor Daniel Diaz-Fuentes Unican Professor Riccardo Bellofiore Bergamo Professor Alan Ciblis UNGS Dr Jesus Munoz Lancaster Professor Mary Mellor Northumbria Dr Veronica Villarespe UNAM Arturo Hermann Dr Pritam Singh Oxford Professor John King La Trobe Professor Elizabth Dore Southampton | With some 80% of austerity measures still to come, and with the government lengthening the time they expect cuts to last, we are calling a people's assembly against austerity to bring together campaigns against cuts and privatisation with trade unionists in a movement for social justice. We aim to develop a strategy for resistance to mobilise millions of people against the Con Dem government. Professor Ha-Joon Chang Cambridge Professor Hugo Radice Leeds Professor Stephanie Blankenburg SOAS Professor Ian Gough LSE Tom Lines Economic consultant Professor George Irvin SOAS Professor Malcolm Sawyer Leeds Senior lecturer David Hudson UCL Professor Diane Elson Essex Professor Sergio Rossi Fribourg Professor Andrew Dobson Keele Professor Frances Stewart Oxford Professor Alan Freeman London Metropolitan Sir Anthony Atkinson Oxford Professor Christine Cooper Strathclyde Dr Bruce Philip NTU Professor John Weeks SOAS Molly Scott-Cato Gaia economics Professor Simon Mohun London Professor Giuseppe Fontana Leeds Diego Sanchez-Conchea Oxford Professor Victoria Chick UCL Michael Burke Economic consultant Professor Simon Lilley Leicester Professor Andy Denis City Richard Wolff Senior lecturer John Simister MMU Professor Colin Richardson Imperial Professor John Ross Shanghai Professor Matthew Watson Warwick Dr Julian Wells Kingston Professor Judith Clifton Cantabria Professor David Byrne Durham James Meadway Senior economist, Nef Professor Andrew Cumbers Glasgow Professor Mario Seccareccia Ottawa Associate professor Anitra Nelson RMIT Ann Pettifor PRIME Dr Theodore Koutsobinas UWG Professor Guglielmo Davanzati Salento Professor Hartmut Elsehans Leipzig Professor Julie Matthaei Wellesley Professor David Harvey CUNY Professor Raphael Kaplinsky Open University Professor David Gleicher Adelphi Professor Geoffrey Harcourt UNSW Adjunct professor Steven Hail Adelaide Professor Noemi Levy-Orlik UNAM Professor Stefano Lucarelli Bergamo Associate professor Louis-Philippe Rochon Ontario Roy Rotheim Skidmore Professor Judith Mehta Dr Hideo Shingu Kyoto Professor Daniel Diaz-Fuentes Unican Professor Riccardo Bellofiore Bergamo Professor Alan Ciblis UNGS Dr Jesus Munoz Lancaster Professor Mary Mellor Northumbria Dr Veronica Villarespe UNAM Arturo Hermann Dr Pritam Singh Oxford Professor John King La Trobe Professor Elizabth Dore Southampton |
| • George Osborne, defending his policy of austerity, emphasises that there is no miracle cure. I do not know who these advocates of miracle cures may be, but I suggest their views can be reasonably ignored in favour of the views of those who hold that there is another way – taking steps to encourage growth of production and wealth, and thus increasing the power to reduce the national deficit without all the pain he is inflicting on the poor and innocent. In short, by following the teaching of JM Keynes. | • George Osborne, defending his policy of austerity, emphasises that there is no miracle cure. I do not know who these advocates of miracle cures may be, but I suggest their views can be reasonably ignored in favour of the views of those who hold that there is another way – taking steps to encourage growth of production and wealth, and thus increasing the power to reduce the national deficit without all the pain he is inflicting on the poor and innocent. In short, by following the teaching of JM Keynes. |
| No one is suggesting that the austerity path may not eventually end in success. Pre-Keynesian economic policies practically accepted booms and slumps as almost a law of nature. Osborne's policy resembles the plan of a man deciding to journey from London to New York by travelling eastwards. Eventually he may arrive and claim that his method was a success. But there really is a better way. Francis Westoby Hitchin, Hertfordshire | No one is suggesting that the austerity path may not eventually end in success. Pre-Keynesian economic policies practically accepted booms and slumps as almost a law of nature. Osborne's policy resembles the plan of a man deciding to journey from London to New York by travelling eastwards. Eventually he may arrive and claim that his method was a success. But there really is a better way. Francis Westoby Hitchin, Hertfordshire |
| • Among the economic gloom announced by the chancellor, there was one welcome piece of news for the fast-growing co-operative sector. The government announced a consultation on a much-overdue increase in the amount of money that members of co-operatives can invest. This vital change will be a boost to the growth and development of co-operative enterprises with farmers' co-operatives and local communities clubbing together to save shops and services. A co-operative renaissance is underway as people seek out businesses they can trust. Ed Mayo Secretary general, Co-operatives UK | • Among the economic gloom announced by the chancellor, there was one welcome piece of news for the fast-growing co-operative sector. The government announced a consultation on a much-overdue increase in the amount of money that members of co-operatives can invest. This vital change will be a boost to the growth and development of co-operative enterprises with farmers' co-operatives and local communities clubbing together to save shops and services. A co-operative renaissance is underway as people seek out businesses they can trust. Ed Mayo Secretary general, Co-operatives UK |
| • Last year the US Congressional Research Service published data showing there is no relationship between low rates of income tax and an improved economy. The period studied was the 1940s to 2010. The marginal rate of tax of 90% was maintained for 20 years after the war and fell to around 75% for the next 10. | • Last year the US Congressional Research Service published data showing there is no relationship between low rates of income tax and an improved economy. The period studied was the 1940s to 2010. The marginal rate of tax of 90% was maintained for 20 years after the war and fell to around 75% for the next 10. |
| There were similar rates in western Europe compounded in Britain at least with very heavy debt that was not cleared till 2002. I seem to remember a top rate of 98% here. Yet those 30 years transformed life for the better with the creation of welfare states, much reduced inequality, and amazing growth and prosperity. Katerina Porter London | There were similar rates in western Europe compounded in Britain at least with very heavy debt that was not cleared till 2002. I seem to remember a top rate of 98% here. Yet those 30 years transformed life for the better with the creation of welfare states, much reduced inequality, and amazing growth and prosperity. Katerina Porter London |
| • Yet again Osborne has elected to use taxpayers' money to subsidise those who own land and buildings. Would-be home-owners do not need help to get into debt, they need houses to come down to prices they could afford without government interference. If there is money to spend on economic infrastructure, the housing market is a prime candidate – spend the money not on mortgages (debt) but on new housing (investment), and keep it safe from the greedy paws of the private sector. Richard Haggis Oxford | • Yet again Osborne has elected to use taxpayers' money to subsidise those who own land and buildings. Would-be home-owners do not need help to get into debt, they need houses to come down to prices they could afford without government interference. If there is money to spend on economic infrastructure, the housing market is a prime candidate – spend the money not on mortgages (debt) but on new housing (investment), and keep it safe from the greedy paws of the private sector. Richard Haggis Oxford |
| • I do not understand what all the worry's about because after 6 April the economy will go roaring away. Why? Because in the new tax year that nice Mr Osborne has reduced the tax rate for high earners from 50% to 45%. Rupert Sheppard Rochdale, Lancashire | • I do not understand what all the worry's about because after 6 April the economy will go roaring away. Why? Because in the new tax year that nice Mr Osborne has reduced the tax rate for high earners from 50% to 45%. Rupert Sheppard Rochdale, Lancashire |
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