We needn’t be in managed decline, but we are because neoliberal politicians see no other option

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The FT has a headline this morning that says:

The article that follows is predictable. The fear is of a backlash against public investment. The bias is to the car. And with the far-right now setting the agenda for both the Tories and Labour,  hardly surprisingly rail bosses are worried.

But then who isn't?

And isn't the headline far too specific? Isn't it the UK as a whole that is in managed decline? That is how most people very clearly feel about it. To suggest that this is just an issue for our railways is far too specific .

So, what can be done about this?

At the risk of sounding like a broken record, we need a new pro-people economic policy. We have had policy for bankers and big business for forty years now. It has failed. This new policy starts with low interest rates.

And the government needs to spend more, not least on employing more people to provide the essential services that the UK once enjoyed, but now lacks. And they need decent pay.

Then we need to invest more. We have no choice. Not only is the infrastructure of this country worn out due to neoliberal neglect, we also need to become sustainable and we are a long way from that as yet.

As a result we need to accept that the richest in this country will need to pay a lot more tax.  If we are to reverse decline that has to happen.

My contribution is the Taxing Wealth Report. It shows that raising the required tax is possible, with ease. What that means is that decline is an option, not a necessity. Most of politics is a long way from appreciating that. As a result they have no answers to the questions now posed to them. That's depressing. But it need not be this way. It will just take quite lot of courage to change things, that's all.

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