Unjust cuts and the Thatcher legacy

Published: 22 July, 2010

• THERE was anger at the town hall meeting (Packed meeting pledges to fight the coalition cuts, July 15) – an anger which can only grow, as the injustice of the government’s cuts starts to be felt.

“We’re all in it together”, claims David Cameron. But this is plainly untrue, for the austerity planned for the masses will have little impact on the few.

It’s not surprising though, given the cabinet is largely made up of multi-millionaires, keen to promote their own key interests; the big question is how long they’ll be able to get away with it.

A good point made at the town hall meeting was how Margaret Thatcher transformed society bit-by-bit, until hubris eventually led her to take on people with the poll tax, which finished her.

In a bizarre display of extremis, the coalition has started from there, threatening cuts and job losses across the board, with that extra, inhuman touch: proposing cuts in welfare for the hundreds of thousands they’ll be throwing out of work.

No problem though, for the private sector will expand – they say as if by magic – providing new jobs for all.

Trouble is, the private sector has been shrinking for over 30 years, with Thatcher’s free-market fundamentalism, helping the process.

The outlook is made much worse by the government’s blank refusal to tap a massive source of new revenue.

Much of what goes on in the City now is pure speculation – they even advertise “spread betting” on the Tube – so why is there no gambling levy? Short-selling, spread-betting and the rest turn over trillions each year.

A small transaction levy could raise tens of billions, heading off the need for the slash-and-burn tactics promised us.

What it would mean though is dented profits for the very people the cabinet represents, so they ain’t going there!

JACK SMITH
Fellows Road,
NW3