Recession threat grows
THE GOVERNMENT'S tax income from private companies and individuals has slumped due to the recession. Tumbling profits have pushed the government's business tax income down 38% while unemployment has increased spending on benefits by 10% in the past year.
So this July the government had to borrow £8 billion - the first such borrowing since 1996 in a month of July, historically one of the strongest times of year for tax receipts.
While a gung-ho media claims the recession is over, there are fears that public debt will grow to at least £800 billion in this current year - £13,000 for every man, woman and child in the country. The unions should prepare to fight as the government will be looking at savage cuts in vital public services to 'solve' this problem.
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In The Socialist 26 August 2009:
Jobs and education not dole and debt
War and occupation
Afghanistan: Withdraw foreign troops
Socialist Party NHS campaign
No to health privatisation and 'the market'
Private Finance Initiative still threatens NHS future
Socialist Party campaign news
Ireland - workers campaign against Lisbon Treaty
Time to Fight Back: demonstrate at TUC conference
Socialist Party workplace news
Construction workers defending jobs and conditions
Fiddlers Ferry protest continues
South Yorks firefighters plan industrial action
Youth fight for jobs
No to Future Jobs Fraud scheme
Socialist Students and Youth Fight for Jobs campaign material
Socialist Party Marxist analysis
World recession, revolution and counter-revolution in Latin America
Socialist Party news and analysis
March shows growing opposition to far right BNP
Daventry: socialist candidate in council by-election
Passengers want publicly owned buses
Unison witchhunt
Unison witch-hunt/employment tribunal: The truth is coming out
Housing crisis
Global Warming
Poorest suffer globally from climate change
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