Recovery For Whom?

The press and TV are lauding the government for what they are describing as an economic recovery. 'The Bank of England yesterday upgraded its growth forecast to 3.5 per cent for this year and to 3 per cent for 2015.' (Times, 14 August) Whilst this turnaround has enthused bankers and investors it has meant very little to the working class as the press article goes on to explain quoting figures from the Office of National Statistics. 'Employment growth was still strong but wages grew by only by 0.6 per cent in the three months leading up to June. This was a period in which inflation was running at at 1.9 per cent, which means that real wages, at a time of economic growth, have been falling.' What has been a period of boom for the capitalist class has seen a worsening of conditions for wage earners. RD