Latest Report Published: The £100 Billion Gamble
Today Compass has launched a report which reveals the extent of the Coalition Governments reckless gamble. It is calculated in this new report that the government is making a £100 billion gamble on growing while the public sector is cuts which is supported by "no reputable economic theory".
Covered by Larry Elliot in the Guardian here!
The report argues that: "Everyone is agreed that growth is the only way out of this economic situation, but the government's hope is that this will come about by simply creating ‘space' for private initiative. It has an agenda for cuts but not for growth."
Chancellor George Osborne argues that the state is the problem, that we must deal with the deficit immediately, that if the state is cut back the private sector will flourish and that cuts can be progressive. On all of these fronts, the report shows that Osborne is fundamentally wrong.
The report contests each of these with economic facts and evidence showing that opposition to the cuts is essential and that there is an alternative involving a renewed fiscal stimulus to encourage growth and a long term fiscal policy designed to reduce the deficit through a fairer tax regime.
Download and debate here!
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