To all those claiming interventionism has returned and arguing that the fight is no longer against austerity – it hasn’t and it is - A THREAD -1/

Capitalist states are always there to rescue capitalism from a crisis. Given the scale of the crisis we may be facing, today’s interventions seem v modest – 2/

More generally, the idea that an austerity government *never* intervenes has never been true (except in the ideology of neoliberals themselves). Austerity, and neoliberalism in general, have always been about interventions that favour (particular sections of) capital - 3/

Eg the complete restructuring of social security with its sanctions, conditionality and near constant monitoring of claimants is highly interventionist, just in a bad way – 4/

Similarly, the idea that austerity is simply a question of total govt spend is wrong. Austerity is a project to shrink collective provision, reduce the social safety net, erode solidarity and bolster individualism and competition. – 5/

Today’s announcements – a series of short term measures that channel money into the private sector - are all entirely compatible with that – 6/

Moreover, austerity is currently baked into to current public spending levels. We will be living with austerity until public sector funding is significantly increased. Today’s statement suggests we are a long way from that happening – 7/

Specifically, public sector pay is still *lower* in real terms than it was in 2010, councils (especially those in deprived areas) are facing an existential crisis, the human cost of the dire state of social care has just been v publicly exposed – 8/

To say the fight against austerity is over in this context is v dangerous. Its also v complacent when there’s lots of mood music from the Treasury suggesting an imminent fiscal tightening to pay back debt accumulated in the last few months – 9/