Government's Management of the Economy

Paula Barker Excerpts

Tuesday 23rd February 2021 Commons Chamber

[Paula Barker (Liverpool, Wavertree) (Lab) [V]]

Thank you, Mr Deputy Speaker. The story of the Conservative party approach to economic management over the last 10 years has been a tale of two rather unequal halves. For the many it has been a story of a brutal squeeze on living standards and the rise in precarious living, at home and in the workplace, and for this vast majority it has been about the desecration of our public services and a dramatic decline in the municipal offer to our citizens. For the few, the last decade represented business as usual, the distant memory of the global financial crash a momentary blip for the capital as it ploughed on, unfazed by the destruction it wreaked upon us all.

The machine that was assembled to discredit all that was good about the last Labour Government’s domestic agenda was slick and well oiled, and the opposition to this machine, on the contrary, tired and beleaguered. There existed a space for the great lie that was to come: that public spending was the problem and it was public spending that had to be brought back under control, not those in the City who had gambled with our futures. As soon as Fred Goodwin had become public enemy No. 1, this machine had moved on to Gordon Brown, because that was required to sell to the population austerity as a political necessity rather than the political choice it represented.

What do we have to show for this lost decade of political choices? For starters, there is the spectre of underemployment, low wages, low productivity and an economy imbalanced industrially and geographically on a scale never seen before. The indignity faced not just by those on welfare but by those in work at the hands of unscrupulous bosses and immoral methods of employment has been testament to this. Yes, the Government have always boasted low unemployment figures, but those who work in the real economy, not the City, know their stories are not told by the figures. I say “lost decade” because it has been the human cost of austerity that has come to define it. I fear that, when the taps at the Treasury are turned off, and they will be, the worst for our people, beyond the current public health emergency, is still yet to come. Austerity has by every measure left our economy and workers grossly exposed to the economic chaos caused by the pandemic and our public services less resilient to respond to a crisis of such gravity.

The demands of our people are simple: to live well, to be happy, to be secure. These are not luxuries, but fundamental rights and so should be afforded to all people in all their diversity across every region and nation. That is what we should build our economic strategy around. If the last decade is anything to go by, our people could be waiting some time.