Economía marxista para el Siglo XXI

Michael Roberts Blog

UK finance minister George Osborne presented his first budget since the Conservatives won the UK general election last May.  Most readers of my blog who are not British may not find this interesting.  But in some ways it is.  That’s because the UK budget reveals the economic and ideological beliefs of a pro-capitalist government as it looks out towards the end of this decade.

This was a blatant big business budget.  Taxes are being cut for capital, while they are being raised for labour.  Taxes rates for corporations, already the lowest among the G7 economies, are to be cut further; companies will be able to invest up to £250,000 a year and set it off against tax; and special levies on banks are being reduced.  And those who own expensive properties and have significant financial wealth are having inheritance tax reduced.  Next year will see the largest privatisation proceeds of…

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