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UK economy in recession as households cut spending
(www.theguardian.com)
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this post was submitted on 15 Feb 2024
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Tax cuts for the rich and businesses never works if there is no demand. Tax cuts for the poor while better isn't going to make much of a difference because the issue is not taxes it's low real wages and unemployment/underemployment.
Where is the increased welfare spending?
Its amazing how even the first world countries went from "we need more spending" when covid went off in 2020 because of the threat of social upheaval to being back on the austerity train.
When I read WEF's 'The Great Reset' in 2021 I thought "is the first world going back to Keynesianism?" but nope soon after COVID was memory-holed and the whole world went back to pre-2020 neoliberalism.