Published: 18 May, 2012
• AS a point of working class solidarity, we must reject the analysis peddled by banks, hedge funds and the coalition government that past levels of public expenditure were the main cause of the economic and financial crisis.
We should reject the remedy dictated by City of London financial institutions, the EU Commission and the European Central Bank that public spending cuts and savage attack on the wages and pensions of public sector workers are necessary to reduce the public sector financial deficit.
The policy of the Labour Party leadership – in aligning itself with this analysis and these remedies – is a betrayal of the millions of workers and their families who should be able to look to Labour for support.
Its support of cuts represents a shameful capitulation to the banks, the Lib-Con regime and the right-wing mass media.
Hornsey Road, N7