Posts under ‘Earnings’

Spiralling executive pay can only be curbed by having it determined by employees

by Michael Meacher.

The latest figures on executive pay are so preposterous that they should provoke uproar. It is now largely hidden from public scrutiny but an example recently published concerns Bob Dudley, chief executive of BP, who was given a total remuneration package of $15.2m in 2014: his basic salary was ‘only’ $1.8m, but his deferred bonus and other share […]

Aspiration: what’s in it for the 20 million in poverty?

by Michael Meacher.

According to the official Office of National Statistics’ latest report, 19.3 million persons in the UK had an income below 60% of the national median at some point during 2010-13. That is nearly a third of the entire population, and a higher proportion than for the EU as a whole. The UK figures are even […]

Aspiration for all would be fine, but neither the Tories nor the Blairites will deliver it

by Michael Meacher.

The Tory manifesto was artfully targeted at making everyone a weeny bit richer, and some a lot richer. It offered to raise the income tax threshold to £12,500 (though the rich get more from that than the poor), to lower tax on those on the minimum wage, to raise the higher rate income tax threshold […]

If Osborne cuts £30bn as promised, he can’t achieve his deficit reduction targets

by Michael Meacher.

Osborne is now mooting an emergency budget within the next few weeks to lay the foundations for the £30bn fiscal consolidation (aka cuts) to be announced in the autumn spending review. It is made up of £12bn welfare cuts, £13bn reductions in departmental expenditure (aka cuts in public services), and £5bn in tax avoidance measures. […]

1,000 richest Britons worth £547bn, 13m others now in poverty, half in work

by Michael Meacher.

Murdoch’s Sunday Times has just published its Rich List for 2015 which shows that the richest 1,000 persons based in Britain now have wealth valued at £547.1bn. That works out at an average level of wealth of nearly £550 millions per person, though there are wide variations between the threshold level of £100 millions at the […]

There are 3 ways to cut the deficit – why has Labour chosen the wrong one?

by Michael Meacher.

The budget deficit, which has been far more central to this election campaign than it should have been, can be dealt with in three separate ways. It can be reduced by cutting net expenditure either by taxing the poor or by taxing the rich, or it can be reduced by cutting unemployment (the ‘automatic stabilisers’ […]

Why doesn’t Labour lambast the Tories on their weakest point – the economy?

by Michael Meacher.

It is strange that Labour hasn’t launched a full frontal attack on the Tory handling of the economy over the last 5 years, because it’s been deplorable. The only points the Tories make in defence of their own management are growth and jobs. But look at the record. Osborne’s bizarre idea that contracting the economy […]

Re-engaging with the alienated “untouchables”

by Michael Meacher.

The Labour campaign continues to make good progress whilst the Tories lurch from one failed artifice after another, and Ed Miliband is increasingly taking command with growing confidence. The election has nevertheless drawn attention to a disturbing penumbra of alienation from the whole process. In poor white working class areas the number of households who […]

Britain’s pay: from £28m 8 weeks into a job to £0 a week on zero hours contracts

by Michael Meacher.

Some of Ed Miliband’s most popular announcements have been his pledge to abolish non-dom status and to hunt down aggressive tax abusers , not only making them pay up what is owed, but also a fine of an equal amount on top. He would be even more popular if he found a formula to deal […]

Productivity is central flaw in Tory economic argument

by Michael Meacher.

One of the company bosses signing the Telegraph letter sought to clinch his case by saying it was ‘madness’ to abandon the government’s economic policy since it was only half done and they needed to ‘finish the job’. But what is half done? Not reducing the deficit since it was £118bn when Alistair Darling’s two […]

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