'It's the deregulated corporate playground that was promised when Britain voted for Brexit. But the problem for the government is that it’s entirely out of step with much of the rest of the world.'
When Britain's new chancellor Kwasi Kwarteng stood up on stage at the Conservative Party conference yesterday, he was a lonely figure.Only a few days earlier, his French counterpart had announced a budget that included significant spending boosts for the ministries of labour, health, ecological transition and education.”, pouring billions of euros into “climate protection, digitalisation, education and research as well as the infrastructure required.
Across the Western world, state-led investment is back. Limping out of a pandemic and into a European war, looking ahead to increasing climate chaos and back at a decade of stagnant wages and soaring billionaire wealth, most governments, most citizens, can see that a 40-year experiment with radically free markets was a disaster. Most can see the need to pull together, that collective action is required to navigate the current omnicrisis.
In his speech yesterday, Kwarteng said he had abandoned his cut in income tax for the richest because it was distracting from his broader plans. But it’s precisely his broader plans that are the problem.get rid of regulations for the rich, promising to “review, replace or repeal retained EU law holding our country back”.
don’t do anything to solve the problems faced by parents who desperately need better-funded childcare, but will make it harder for parents to know their child is being well cared for, and easier for profiteering agencies.
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