PM defends the laissez-faire market of foodbanks, financial crisis and war
Theresa May was ridiculed yesterday for singing the praises of the free market despite it leaving millions of people in poverty, reliant on foodbanks and unable to heat their homes.
In a speech marking 20 years of the Bank of England’s operational independence, the Prime Minister applauded the system which caused the worldwide financial collapse of 2008.
She insisted that a free market economy, operating under the right rules and regulations, remained the “greatest agent of collective human progress ever created.”
In a swipe at Labour leader Jeremy Corbyn and his plans to take privatised services such as energy, water and the railways back into public ownership, she said that abandoning the market in favour of “ideologically extreme” polices would hurt the poorest and most vulnerable in society.
Her comments were immediately rebuffed by shadow cabinet office minister Jon Trickett.
He said: “Today’s speech told us two things. First, Theresa May knows the economy isn’t working for most people but won’t do anything about it. Instead, they give tax breaks to the few at the top while working people are worse off.
“Second, the Conservatives have no new thinking and no answers to the challenges and opportunities facing our country. They are yesterday’s party.”
Neil Clark of the Campaign for Public Ownership blasted Ms May for “defending a system which is totally indefensible.”
He said: “What has been forgotten is public ownership was accepted by every postwar leader of the Conservative Party until Margaret Thatcher. Churchill, Eden, Macmillan — were they extremists?”
Communist Party of Britain general secretary Rob Griffiths added: “This is the free market that keeps millions of workers and children in poverty, fails to supply decent housing for all and is propelling the planet to climate change catastrophe.
“It allows an Australian hedge fund to borrow money to take over Thames Water and make a fortune out of swindled customers.
“And, of course, swathes of our rail, energy and water industries are already in public ownership, but it is French, German and Dutch public ownership because public ownership by Britain is banned.”