The Organisation for Economic Co-operation and Development (OECD) has found what most of us already knew: that income inequality actually stifles economic growth in some of the world’s wealthiest countries, whilst the redistribution of wealth via taxes and benefits encourages growth.
The recent report from the OECD, a leading global think tank, shows basically that what creates and reverses growth is the exact opposite of what the current right-wing government are telling us, highlighting the truth of Miliband’s comments in his speech today – that the Tory austerity cuts are purely ideologically-driven, and not about managing the economy at all. But again, many of us knew this was so.
The Labour Party’s economic plan, based on progressive taxation, equality and funding of public services is the best way forward for economic growth and social stability. The Tories have killed the potential for a sustainable economic recovery, and will continue to…
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