The Workers Party of Britain is a socialist party but we are not utopian, nor are we bound by abstruse theory. We have a common-sense analysis and a practical mission. The Workers Party is committed to the redistribution of wealth and power in favour of working people.
Our analysis recognises that the era of modern capitalism and the international system of capitalist imperialism is not going to be replaced overnight, and that the growth and development of a socialist system of economy is intertwined with the growth and development of working class political power. It may take many years to transform the Britain into a secure democratic socialist state. But it is possible. It is necessary. And some things we can do immediately.
We will, for example, increase the personal tax threshold for the poorest paid workers to remove tax entirely from the first £21,200 of wages for two million low paid workers. This alone would increase take-home pay for a worker on the threshold rate by £1,700 per annum. Inflation hurts working people the most. Our policies are based on doing what is required to cut the cost of living and drive sustainable growth. We will re-industrialise the country based on new technology investment, effective and efficient public spending directed at building infrastructures to provide future wealth and an active redistribution of assets to the benefit of the people.
We are not afraid of selective nationalisation especially of dysfunctional utilities and for strategic assets. We will end the dangerous practices of public-private partnership and ensure best value for the public whilst recognising the reasonable rights of private producers, manufacturers and productive businesses. And we will build regional and infrastructural banking support structures to provide credit on sustainable terms to socially useful productive capacity.
The Bank of England should be influenced by working class economic priorities as part of an integrated national economic system but there is no point in handing our central bank to control of politicians in Parliament who still speak for business interests. The Bank will be instructed to meet working class priorities with mandatory working class representation throughout the governance structures of the Bank not excluding the Monetary Policy Committee. There is no conflict between the struggle for socialism as a system of social ownership and our immediate need for effective infrastructural planning for Britain. With enhanced worker’s control and industrial participation going hand-in-hand with an entrepreneurial culture centred on working class creativity and its aspiration to create a better world for families and the community, the WPB is optimistic about our national economic future under new political management.
Julie Lowe 