World politics – just a light subject for today

It’s clear that the world is changing, though sadly comrades the revolution isn’t here yet. But what the global financial crisis has brought about is that, if we must live in a market driven society, then that needs to be accompanied with strong intervention into those markets. Now I definitely support the Labour Party, but we can’t quite wriggle out of all responsibility. 3rd way politics under Blair in the UK and Clinton across the pond deregulated much that in hindsight (esp. as I am no financial expert) it would seem shouldn’t. The disaster in the US was then along came Bush who continued the low regulation regime while deliberately skewing the tax system to benefit the rich. Now our Government does have some responsibility, though everyone appreciates this is a worldwide problem; but things are changing.

Within the financial storm that’s ripping across the world; there is becoming clear distance between those that would intervene in market and those that would pull out and leave them to fail. I think the route of that division is who you care about? I’m glad to say that our Labour Government have looked at the prospects for ordinary working people, middle and low incomes alike, and decided that we must intervene to protect them. Labour are borrowing in order to maintain public spending, both to avoid the way public services were devastated for a generation and to continue to drive the economy, while bringing forward and funding new capital projects to help meet the reduction in demand from the private sector. And they are intervening to help business stay open and employing staff, and when business do have to lay off staff, Labour will do as it did close to me with the Longbridge Taskforce, supporting people back into work or training.

Whereas the Tories, Cameron’s ‘caring Conservatives’, look to the wealthy who can weather the storm and in all likelihood come out on the other side with greater ability to get richer and richer. They would certainly not be maintaining public spending, and they certainly wouldn’t be using public building programmes to drive the economy. Instead, they’re spending their time trying to rubbish Labour’s record on debt (which is good by international standards and when compared to what the Tories gave us), and calling for spending cuts to keep down the deficit. And with their proposals to benefit the richest in society through inheritance tax, it really is tax cuts for the few, service cuts for the many. It absolutely shows that the Tories have not changed, and have not learned, from the disaster they inflicted on working people when the economy faltered on their watch. They cut public spending, ruthlessly attacked public services and public sector workers and left those in need with nowhere to turn. They failed to intervene to support companies and maintain employment, turning workers on to the scrapheap and telling them to get on their bikes.

And as for those ‘left wing’ Liberals, their response is tax cuts and closing the Government department responsible for supporting businesses. They have shown nationally what many have been saying about them locally, right wing with a nice face. Now I can’t talk about world politics without a mention of the US President Elect, and the hope for a US that is there supporting all it’s people and wanting again to be a friend in the world. But as for economics I know too little and in any case it’s too soon to tell. But what there is, is hope for change.

Labour still need to do so much more (and there are lots of other blogs about that), but at the moment they are showing their metal. I hope the people of Glenrothes give us a boost today, it's time to Go Fourth for our 4th term in Government.