Economy Politics

Yanis Varoufakis – “Austerity” is class war

Yanis Varoufakis noted simultaneous reductions in taxes on the wealthy and cuts to spending on social security amounted to a redistribution of wealth away from the poor to the rich.“The problem is that austerity is being used as a narrative to conduct class war,” Mr Varoufakis told the BBC’s Question Time programme.“To be talking about reducing the state further when effectively what you are doing is reducing taxes like inheritance tax and at the same time you are cutting benefits – that is class war.”

Source: Austerity is being used as a cover-story for class war against the poor, Yanis Varoufakis says | UK Politics | News | The Independent