THE Governor of the Bank of England, Andrew Bailey, has just issued a warning to the Chancellor Rachel Reeves against capping supermarket food prices.
He is in favour of allowing prices to let rip and for making the working class pay the price for the developing crisis of the capitalist system, through starving millions of working class families.
Earlier this week, Reeves asked grocers to cap how much they charge shoppers for staple items such as bread, eggs and milk, amid the growing alarm over soaring prices.
Bailey made it crystal clear that he was not in favour of freezing the prices of essentials such as bread, eggs and milk saying that such a policy was ‘unsustainable’ and risked ‘backfiring’.
The working class is being told that its duty is to allow its children to go hungry for the benefit of capitalism.
The fact is that the Labour government is unwilling and unable to take the required revolutionary class actions to defend the jobs, wages, benefits and the basic rights of the British working class.
Labour is resigned to watching and waiting for the ruling class to do its worst.
The working class, meanwhile, cannot afford to dally and wait. It must take mass class actions to defend its jobs, wages and its basics rights, that capitalism in its crisis is determined to destroy.
The time has come for millions of workers to take action to secure the jobs, wages and basic rights of the working class and the youth as a whole, to go forward to a socialist society on a world-scale.
The TUC Congress must immediately be recalled to take action to mobilise the trade unions for a general strike to defend the jobs, wages and the basic rights of British workers by bringing down the Labour government and bringing in a Workers Government that will nationalise the banks and the major industries and bring in socialism.
Securing the jobs, wages and the basic rights of British workers requires a Workers Government that is prepared to nationalise the banks and the major industries and bring in a planned socialist economy, that will be willing and able to satisfy the basic requirements of the working class and the middle class for decent jobs, decent wages and continual access to basic democratic rights.
The crisis of British capitalism is part of the world crisis of the capitalist system which sees no way out of its crisis except through counter-revolutions to try to drive the working class back to the ‘dark ages’ of the 1930s, when the fascists were able to raise their heads.
We are not living in the conditions of the 1930s today.
The working class is more than willing to mobilise behind a revolutionary leadership to take revolutionary mass action to smash the bankrupt capitalist system and to go forward to socialism.
The TUC must be made to call a general strike to bring down the current Labour government and to bring in a Workers Government and socialism.
Capitalism is bankrupt and has reached the end of the road. It is however clinging on as desperately as it can and will aim to bring in fascist or dictatorial regimes, if necessary, in order to try and survive.
The working class therefore must now urgently go forward to carry out the World Socialist Revolution.
It has the power to do so and must be equipped with the necessary revolutionary leadership to carry out the transformation that is required.
There is not a moment to lose! Now is the time to build the UK section of the International Committee of the Fourth International as part of the World Party of the Socialist Revolution.
Capitalism has had its day. It must now be replaced by a planned Socialist economy whose maxim will be ‘from each according to their ability, to each according to their need’.
The workers of the world have had enough of suffering under continuous wars, soaring prices and years of poverty. It will not bear the brunt of the problems of world imperialism and is rising up everywhere.
Workers want a society where they can live in peace and where there is a future for their young people.
This means bringing down capitalism and going forward to a world socialist republic – there is not a moment to lose!
