As the election comes into sight, what should be the 10 pledges that Labour should make to maximize its vote for 7 May 2015? Here are some proposals which should certainly be included:
1 End austerity because the policy of endless spending cuts is clearly not working – deficit reduction (the ostensible purpose of the whole exercise) has ground to a halt and the deficit may even rise this year. Adopt the obvious alternative policy, which would cut the deficit far more quickly, by expanding the economy, creating hundreds of thousands of real jobs, raising household incomes, and using the higher tax take to pay down the deficit faster.
2 Make the revival of British manufacturing industry the key objective of domestic economic policy as the only way to pay our way in the world and reverse the disastrous slide to the biggest balance of payments deficits in British history.
3 Make full employment equally a central objective of economic policy when there are still today 2 million persons jobless and up to a further 5 million in short-term insecure jobs often dependent on zero hours contracts.
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