Received from: POA
Congress rejects the narrative from government and the Bank of England governor that pay rises for workers are the drivers for inflationary pressures.
All workers in the public and private sector deserve a pay rise in order to survive in the cost-of-living crisis.
Unions in dispute over pay and terms and conditions should, wherever possible, link up and call action in a synchronised manner that links industrial action and strikes together.
Further, Congress recognises the economic and financial neoliberal orthodoxy of the last four decades, coupled with the freedom of movement of capital, have had a detrimental effect on Britain. It has deprived the country of investment, eroded manufacturing, welfare and public services, reduced productivity growth to zero, and increased national debt to over £2tn.
Congress therefore prioritises educational and campaigning work on a new national economic policy to include:
i. the rebuilding of a strong manufacturing sector using the government’s leverage over public procurement and public investment
ii. the strengthening of an accountable public sector including taking back into public ownership transport, utilities and all other public services that have been contracted out
iii. establishing a national investment bank and public banks
iv. the re-imposition of exchange controls
v. the management of exchange and interest rates appropriate to the country’s needs.
Financing should be obtained by taxing the enormous profits of corporations and the rich thus reducing inflationary pressures.