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Socialists response to the budget 2021
“This budget fails to address the deep systemic problems - from an economy based on exploitation to a social safety net full of gaping holes and to a climate crisis which is accelerating out of control, the Tories have nothing to say about how to shape a better future” says the budget statement from the Momentum.

They say that as socialists they understand that the root causes of all these crises lie in the failures of a capitalist economic system - and that until you junk that system, the same problems will keep cropping up, no matter how much you spend. 

They point out that Labour is wobbling over corporation tax. By allowing themselves to be outflanked on profit taxes, the leadership have ended up gifting the party of cronyism a new source of anti-establishment legitimacy. This isn’t standing up for Labour’s principles, and it’s not even smart politics. 67% of voters support corporation tax increases and 70% support a COVID-19 windfall tax on companies like Amazon that have made huge profits in the last year.

They remind that despite the success of the NHS-led vaccine rollout, Britain is still in crisis. For working people, the road to recovery will be a long one: from unemployment to rent arrears, there are huge challenges ahead. 

They say a decade of austerity left British society completely unprepared for this pandemic. The scale of national suffering has been immense. We have endured one of the highest per capita death tolls in the world.

As the elite have profited from crony deals with their Tory mates, the rest of us have paid the cost. Billionaires have increased their wealth by over £25bn during the pandemic, whilst a third of adults will be living in hardship by May. 

“Instead of new ideas, they're stealing ours - from a national infrastructure bank, to raising corporation tax. But they're downsizing them and severing the connection between these policies and our fundamental project of shifting the balance of power in society away from the British elite and towards working people” they said.

“We won't just spend money on trying to reduce the impact of inequality, we'll take apart the power imbalances that create that inequality in the first place”.

 Our Party needs to take on a government that is willing to invest in order to save their rigged system - and that means it needs bigger, bolder ideas, they say. 3/3/2021