Tag Archives: Conservatives

Britain Faces a Lost Decade, Deeper than Japan’s

Thursday’s IMF report has shown conclusively that George Osborne’s Plan A has failed. Austerity is pulling Britain back into recession. The International Monetary Fund (IMF) has long been an advocate of fiscal retrenchment and market-oriented “neoliberal” reforms. Indeed, the IMF is in part behind the current austerity programs currently being imposed upon Greece and Southern Europe, […]

Private Finance Initiatives are a huge ticking time-bomb of debt

These deals represent a colossal public subsidy to select private companies, all hidden from the taxpayer “…apparent savings [from PFI] now could be countered by the formidable commitment on revenue expenditure in years to come.” Alistair Darling, 1997 (As transport secretary 2003-2006, Alistair Darling supported major new PFI projects) The government’s use of PFI [the private finance initiative] […]