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The Polanyi references are particularly strange, given Labour’s takeaway from it is to continue much of what he was against (balanced budgets and commodity money).
Separating capital investment from day-to-day spending is such an obvious improvement on today’s fiscal rules, but then the overall limitation of total debt falling within 5 years is crazy, and would totally undo any capital investment with a longer repayment period (what investment is fully repaid in 5 years?!).
On similar lines:
https://twitter.com/fromarsetoelbow/status/1771843813599801838 -
It might change your mind, it might not, but I think it makes it clear that we're not going to get more of the same.
I think that’s true too btw, it feels like we’re going to have an austerity-light era, but not full on neoliberalism, with various non-taxation related supply-side reforms.
Whether that’s enough is the question here I think, rather than dismissing altogether that it’ll be better.
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slippers
@andyp
For all those who think we're going to get a Starmer/Reeves version of austerity, this is worth a read:
https://www.theguardian.com/commentisfree/2024/mar/24/for-the-birds-rachel-reeves-has-outlined-a-plan-to-give-britain-liftoff
It might change your mind, it might not, but I think it makes it clear that we're not going to get more of the same.