IRONICALLY, in the week that the Government said it was abandoning its failed austerity economic policies, the issue was discussed at a conference in Ludlow.

The debate organised by the Labour Party at Ludlow Assembly Rooms came at the end of the week when Chancellor of the Exchequer Philip Hammond announced a change to direction.

This involved dropping the pledge of his predecessor George Osborne to try to eliminate the national deficit by 2020 and instead embark upon a programme of investment and borrowing.

But all of this came after the day-long conference at the Assembly Rooms had been organised.

‘Breaking the Austerity Myth’ was promoted by Ludlow constituency Labour Party.

Three key speakers on economics discussed issues including the nature of money, financial exclusion, co-operation, sustainable cities, ecofeminist political economy and social economics.

‘Breaking the Austerity Myth’ challenged the ideas behind austerity and suggested other, more socially responsible ways to prosperity. It has had as its basis the view that austerity is a political choice and there are alternatives.

The speakers were Professor Mary Mellor, chairman of Northumbria University’s Sustainable Cities Research Institute, Professor Costas Lapavitsas, Professor in Economics at SOAS, University of London and Charles Grimes, Chair of Hereford Positive Money.