Meeting held on Wednesday 19th February 2025.
Six people were present. Seven gave their apologies.
Recently, talk of ‘net zero’ has becoming toxic. Not only are parties of the right pressing the case for fossil fuels rather than alternative energy sources, but even Labour is rowing back on its earlier commitments to net zero. The move towards a greener economy is tied up with addressing the problem of obscene inequality. But, as with ‘net zero’, Labour appears to consider increasing taxes on the wealthy as not a priority for them. We are told that a ‘wealth tax’, for example, is too difficult to implement, and would lead to wealthy people leaving the country. According to the current economic models this loss of very wealthy individuals would be a bad thing as their wealth makes a positive contribution to the economy. ‘Wealth creates jobs’, according to their economic models.
However the evidence for such assertions is never presented. It seems more likely that vast wealth serves little economic benefit but rather put up the prices of property thus leading to even greater inequality. Alternative economic models which challenge such assertions are well developed (for example by the New Economics Foundation), but Labour appears to be uninterested.
This move towards the right by Labour is also evidenced locally in the banning of Ruth George (ex High Peaks Labour MP) from standing again, on the flimsy basis of an old message of hers which challenged the dubious definition of antisemitism adopted by the Labour Party.
With Labour as well a the Tories apparently committed to an economic model (neoliberalism) which is the cause of gross inequality, how might change be achieved? We thought this might be the consequence of some completely unforeseen disaster. But wouldn’t any such disaster inevitably lead to the poor rather than the rich suffering the consequences? Such disasters would perhaps be more likely in circumstances of great instability. Trump is certainty causing instability through his economic and foreign policies? Appalling though his policies are, might they nevertheless trigger some unforeseen outcome which could be beneficial?
It is perhaps ironic that Trump, the capitalist par excellence, is putting forward economic policies (eg tariffs, inhibiting migration) that are against free movement of labour and capital, which are basic premises of neoliberal economics. The more social democratic policies of such as Biden, have been at the roots of growing inequality. We should therefor resist attempting to return to such policies to get us out of this mess; and nor should we forget that Biden’s policies supported genocide in Palestine.
The next meeting will be on March 19th.