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Working people in the UK and across much of the globe are facing horrific attacks on living standards. Governments and employers demand greater and greater sacrifices: more wage cuts, more privatisation, the loss of hard won pension rights and the devastation of public services. These attacks are supported by the International Monetary Fund, the World Bank, the European Central Bank and a whole plethora of supposed experts on economic matters. Despite the drive for austerity, despite the wage freezes and wage cuts, the much promised economic recovery is delayed, delayed and delayed. Far from delivering prosperity, UK chancellor George Osborne has simply managed to deliver long-running stagnation.