“Economic Terrorism”: The Ongoing Neoliberal Assault on Ordinary Working Class People in Britain | Global Research

“Economic Terrorism”: The Ongoing Neoliberal Assault on Ordinary Working Class People in Britain | Global Research

British Chancellor George Osborne this week announced massive cuts of £25 billion after 2015. This included further welfare cuts of £12bn. Osbourne said that 2014 would be a year of hard truths. He claimed that his economic policies were working, but admitted that the bad news is there’s still a long way to go.

He warned of more years of cuts to public services and the public sector by saying £25bn would be cut over two years after 2015. That is in addition to £17bn cuts this year and £20bn next year. Osbourne argued that government is going to have to be permanently smaller and so too is the welfare system.

When he says ‘welfare system’ does he also include cutting back the massive handouts given to the arms industry, for example, which amounts to £890 million per year according to the Campaign Against the Arms Trade (1), or the billions given to the private sector via the ‘corporate dole office’, the Department of Trade and Industry (now called the Department for Business Innovation and Skills)? Or does he exclude such types of corporate welfare dependency (2)?