Labour itself applied harsh welfare cuts under IMF tutelage
Evidence
It was Labour, not the Conservatives, which applied the surgical cut to the welfare state. And there was Mr. Healey’s not wholly unexpected conversion to orthodox monetarism and fiscal restraint—tutored by the IMF and the oil price. In this climate of austerity, Keynes has been decently buried; the Right has re-established its monopoly over “good ideas”; “capitalism” and “the free market” have come back into common usage as terms of positive approval. — Hall, Stuart, Essential Essays, Volume 1, 1090
Categorization
Category: Factual Claims
- XREF: Echoes the IMF loan crisis of 1976 — connects to histories of the British Labour Party’s 1970s shift and today’s austerity politics.
Related
- Labour, not the Conservatives, delivered the first welfare-state cuts (similarity 0.91)
- Labour itself advanced austerity and monetarism before the Conservatives. (similarity 0.86)
- British austerity cuts aimed to permanently foreclose any future welfare state (similarity 0.82)
- Austerity cuts aimed to permanently prevent welfare-state restoration in Britain (similarity 0.80)
- Defeated Labour adopted Thatcherite economics before Thatcher governed (similarity 0.79)
- Osborne’s austerity cuts aimed to make the welfare state’s return impossible (similarity 0.78)