{"id":19057,"date":"2013-01-29T11:10:04","date_gmt":"2013-01-29T11:10:04","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19057"},"modified":"2013-01-29T11:10:04","modified_gmt":"2013-01-29T11:10:04","slug":"spain-is-the-living-evidence-that-austerity-does-not-work","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/01\/29\/spain-is-the-living-evidence-that-austerity-does-not-work\/","title":{"rendered":"Spain is the living evidence that austerity does not work"},"content":{"rendered":"<p>As the <a href=\"http:\/\/www.guardian.co.uk\/business\/2013\/jan\/29\/eurozone-crisis-spain-austerity-retail-sales\" target=\"_blank\">Guardian reports this morning<\/a>:<\/p>\n<blockquote><p>Spanish retail sales tumbled by\u00a0<strong>10.7%<\/strong>\u00a0year-on-year last month \u2014 worse than the\u00a0<strong>7.8%<\/strong>\u00a0decline recorded in November, and close to the all-time record fall of\u00a0<strong>11%<\/strong>\u00a0recorded in September.<\/p><\/blockquote>\n<p>Of course Spain has massive problems; it has also had massive tax evasion and a completely absurd\u00a0property\u00a0boom. B<span style=\"font-size: 13px;\">ut these are falls in retail sales. Consumption is\u00a0collapsing\u00a0in the wake of tax rises and austerity cuts which in combination are destroying all prospect of any economic recovery and in the process are\u00a0eliminating\u00a0any chance that\u00a0Spain\u00a0can address its debt issues.\u00a0<\/span><\/p>\n<p>This is the realtiy of what George Osborne wants for the UK.<\/p>\n<p>This is what neoliberalism and its small minded practitioners prescribe.<\/p>\n<p>And it does not work. It just creates the\u00a0destruction\u00a0of value, and not just economic value at that, but the real value of human endeavour.<\/p>\n<p>When can we put this madness behind us?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the Guardian reports this morning: Spanish retail sales tumbled by\u00a010.7%\u00a0year-on-year last month \u2014 worse than the\u00a07.8%\u00a0decline recorded in November, and close to the all-time<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/01\/29\/spain-is-the-living-evidence-that-austerity-does-not-work\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-19057","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19057"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19057\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}