'Another World Is Possible': Corbyn's Labour Party Lampoons Austerity

[eridani]

http://www.commondreams.org/news/2015/09/28/another-world-possible-corbyns-labour-party-lampoons-austerity

Corbyn took over the party leadership with a stunning election victory earlier this month, one largely ascribed to his anti-austerity stance.

"We are embarking on the immense task of changing the economic discourse in this country," Shadow Chancellor John McDonnell told the Labour Party's annual conference on Monday in Brighton.

As the Wall Street Journal notes, "Mr. McDonnell has been a trenchant critic of the drive by U.K. Treasury chief George Osborne and Prime Minister David Cameron to close Britain’s budget deficit by slashing public spending."

On Monday, McDonnell said austerity "is not an economic necessity, it’s a political choice."

BBC reports that McDonnell "set out Labour's thinking and priorities in key areas," including:

Aggressively tackling tax avoidance and evasion
Introducing a "real living wage"
Cutting tax breaks for buy to let landlords in a clampdown on "corporate welfare"
Restoring and extending trade union rights
Tackling the gender pay gap and building more homes
Asking ex-civil servant Lord Kerslake to review how the Treasury works
Reviewing the Bank of England's inflation mandate and the work of Revenue and Customs

McConnell took specific aim at corporate welfare policies that benefit big businesses more than average people, saying: "We will force people like Starbucks, Vodafone, Amazon and Google and all the others to pay their fair share of taxes. Let me tell you also, there will be cuts to tackle the deficit but our cuts will not be the number of police officers on our streets or nurses in our hospitals or teachers in our classrooms."

"We need to prove to the British people we can run the economy better than the rich elite that runs it now," he told his party's four-day annual conference.

[potone]

1. He's got a first rate economic team advising him.

It includes Joseph Stiglitz, so I am optimistic that Corbyn may be able to do in the UK what Tsipras could not do in Greece.

[Spitfire of ATJ]

2. Only if you refuse to let the rich elite define what is "better".

[Demeter]

3. Until he's Prime Minister, there won't be much change

The next step would be to take advantage of a crisis and force a new election early.

[T_i_B]

4. I very much doubt that Corbyn will ever get close to being PM

In fact I doubt that the Parliamentary Labour Party would let him continue as leader up to the next general election.