The Con-Dem Budget as a class project

What attitude should one take towards last week’s Comprehensive Spending Review by the UK government? That all depends on one’s point of view. Neo-liberals take a different view from that of Keynesian analysts. And it is a Marxist understanding, which uncovers the underlying class dynamics.

‘No ifs, no buts, no public sector cuts!’ – Trade union demonstration in Birmingham on 3 October 2010.

The coalition government of Conservatives and Liberal Democrats is in the process of unveiling its budget cuts in order to address the national debt level resulting from the bailout of failing banks during the financial crisis. In practice, this means significant cuts in public sector spending of 25 per cent in each department affecting amongst others child benefit payments, school refurbishment programmes, services for people with disabilities, etc. Everybody should do his/her bit in order to get debt levels under control, it is argued. What sounds rather reasonable at first sight, however, masks three important facts.