"The ravaging effects of an unfettered financial market, culminating in the crash of 2008 and compounded by austerity measures imposed in its aftermath, has made Britain one of the most unequal countries in Europe. The sixth-wealthiest country in the world, the UK now has 4 million children living in poverty and nearly 4 million adults forced to use food banks. The country is battered by insecure work, stagnant wages, and depressed productivity, alongside rising costs and a spiraling housing crisis. In June, the UN announced it was launching an investigation into UK poverty. Earlier this month, a report from the Institute for Public Policy Research said that the UK economy isn't working and called for a radical overhaul. The public is indicating a preference for that, too, with overwhelming support for Labour's proposals to renationalize rail and utilities, invest in large infrastructure projects, and reintroduce a higher rate of tax for the highest earners."
Rachel Shabi at The Nation writes that "[i]f today's Labour leadership has caught the mood of the nation, it is because the country has caught up with them."
Monday, October 08, 2018
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