London Met’s Economics Society hosted a debate on the cost of living crisis with MP for Islington North, Jeremy Corbyn on Friday, November 4th 2022.
A self-described socialist, Mr Corbyn is a firm believer in universal and general access to decent housing, food and healthcare.
For him, the current situation is alarming. He said: “There are more food banks than McDonald’s branches in the community. There are people who are frightened to turn on the light due to the energy crisis. There is also a health crisis; a local GP told me that mental health is the highest among her patients. This is due to stress.”
He added: “Talent in our society is being wasted through poverty.”
Corbyn acknowledges the failure of the previous government to cater to low-income communities, instead choosing to cut taxes for the rich. With wit and sarcasm, he calls out Prime Minister Sunak who he says “lives rent-free in his head.” Mr Sunak told the Conservative party: “Jeremy Corbyn might be gone, but Labour is still led by the man who tried to make Corbyn Prime Minister. And nothing has changed.”
Although the country’s economic situation seems bleak, Mr Corbyn is quick to offer solutions to a group of students desperate for answers.
He said: “With the levels of tax income, we need to clamp down on tax avoidance, end dom status and further increase corporation tax.” He added: “The government needs to increase wages in line with inflation, particularly with the unions striking.”
Mr Corbyn has been a Member of Parliament for Islington North since 1983 and was Leader of the Labour Party from 2015 -2020. He stresses that the way forward is the redistribution of wealth and using the word economics to bring social justice to our society.