Panic has set in following last Friday’s mini-Budget announcement by the Tory chancellor, as the pound collapses and borrowing costs soar. But the UK’s economic problems run deep. British capitalism is in a state of terminal decline.
In the midst of the ruination of millions Ukrainians’ lives as a consequence of the Russian invasion, the Ukrainian parliament has been pushing forward the harshest cuts to workers’ rights in the country’s history. On 1 July the parliament passed law #5371, which – among other things – increases the working week to 60 hours, and permits bosses with less than 250 employees to fire workers in the event of property damage caused by military actions or the absence from the workplace for a period of more than 4 months. This came on the heels of several other laws, which curbed trade union rights, legalised zero-hour contracts, and removed the obligation to pay the salaries of workers mobilised into the armed forces.
