{"id":74723,"date":"2024-03-22T07:49:07","date_gmt":"2024-03-22T07:49:07","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=74723"},"modified":"2024-03-22T07:49:38","modified_gmt":"2024-03-22T07:49:38","slug":"growth-in-the-economy-creates-wealth-that-never-trickles-down-but-is-what-labour-says-it-wants-what-is-it-going-to-do-for-the-12-million-people-in-absolute-poverty-in-that-case","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2024\/03\/22\/growth-in-the-economy-creates-wealth-that-never-trickles-down-but-is-what-labour-says-it-wants-what-is-it-going-to-do-for-the-12-million-people-in-absolute-poverty-in-that-case\/","title":{"rendered":"Growth in the economy creates wealth that never trickles down, but is what Labour says it wants. What is it going to do for the 12 million people in absolute poverty in that case?"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.theguardian.com\/society\/2024\/mar\/21\/poorest-uk-families-hardest-hit-cost-living-crisis-official-figures\" target=\"_blank\" rel=\"noopener noreferrer\">Guardian reports<\/a> this morning that:<\/p>\n<blockquote><p>Overall, during the year [2022-23] 12 million people were in absolute poverty [in the UK] \u2013 equivalent to 18% of the population, including 3.6 million children \u2013 levels of hardship last seen in 2011-12 after the financial crash.<\/p><\/blockquote>\n<p>Growth will not solve this. We know that wealth never has and never will trickle down.<\/p>\n<p>In that case, nothing will change under Labour without radical reforms to benefits, minimum wages, worker rights, trade union rights, and the probable creation of wage councils. So far, I am not hearing nearly enough about those reforms, which instead already appear to be at risk of being watered down.<\/p>\n<p>We do, however, keep hearing from Labour about the need for growth.<\/p>\n<p>As <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2024\/03\/21\/i-dont-believe-in-growth\/\" target=\"_blank\" rel=\"noopener noreferrer\">I argued yesterday<\/a>, this is the wrong policy for this era in history. Meeting everyone's needs within sustainable limits should be our priority now. Unless that change happens, 12 million people will continue to live in absolute poverty in the UK.<\/p>\n<p>Is that what Labour wants?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Guardian reports this morning that: Overall, during the year [2022-23] 12 million people were in absolute poverty [in the UK] \u2013 equivalent to 18%<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2024\/03\/22\/growth-in-the-economy-creates-wealth-that-never-trickles-down-but-is-what-labour-says-it-wants-what-is-it-going-to-do-for-the-12-million-people-in-absolute-poverty-in-that-case\/\"><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":[204,35,16,118,106],"tags":[],"class_list":["post-74723","post","type-post","status-publish","format-standard","hentry","category-economic-justice","category-economics","category-ethics","category-labour","category-politics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/74723","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=74723"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/74723\/revisions"}],"predecessor-version":[{"id":74725,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/74723\/revisions\/74725"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=74723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=74723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=74723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}