Jeremy Corbyn’s 2016 conference address – 2. Current economic failure 

We have an economy that works for the few, not for the many

Manufacturing is still in decline.  Government failed to intervene to support our steel industry as the Italian government has done.  So, as we did yesterday in conference, we stand with the people on Teesside fighting for their jobs, their industry and their community. The company has said that it will mothball the plant and lay the workers off, therefore it is not too late now, again, to call on the Prime Minister even at this late stage, this 12th hour, to step in and defend those people, like the Italian government has done. Why can’t the British government? What is wrong with them?   

So, as we did yesterday in conference, we stand with the people on Teesside fighting for their jobs, their industry and their community. The company has said that it will mothball the plant and lay the workers off, therefore it is not too late now, again, to call on the Prime Minister even at this late stage, this 12th hour, to step in and defend those people, like the Italian government has done. Why can’t the British government? What is wrong with them?

Britain is at the bottom of the international league on investment. There’s an investment crisis. We are just below Madagascar and just above El Salvador.  So we’re doing quite well! 

Britain’s balance of payment deficit was £100 billion last year

We have been loading our economy and every one of us with unsustainable debt for the future. And the shocks in world markets this summer have shown what a dangerous and fragile state the world economy is in.  Government hasn’t been growing exports and a stronger manufacturing sector that have underpinned the feeble economic recovery.  

Unbalanced. Unsustainable. Dangerous. It’s not acceptable.

There is house price inflation, asset inflation, more private debt. These are the real risks to economic and family security, to people who have had to stretch to take on mortgages, to people who have only kept their families afloat through relying on their credit cards, and payday loans, fearful of how they will cope with a rise in interest rates.  

Austerity is the out-dated and failed approach of the past:Labour will develop a forward-looking alternative

They want the public to believe there is no alternative to cutting jobs, slashing public services, vandalising the NHS, cutting junior doctor’s pay, reducing care for the elderly, destroying the hopes of young people for a college education or putting university graduates into massive debt – putting half a million more children in poverty.

Plutocracy

Since becoming leader David Cameron has received £55 million in donations from hedge funds. From people who have a lot and want to keep it all. That is why this pre-paid government came into being. To protect the few and tell all the rest of us to accept what we’re given. To deliver the £145 million tax break they have given the hedge funds in return.   

They want the people of Britain to accept all of these things. They expect millions of people to work harder and longer for a lower quality of life on lower wages. Well, they’re not having it. Our Labour Party says no. The British people never have to take what they are given. 

adams-common-good

 

 

 

 

 

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