Posts Tagged ‘Inequality’

Austerity and economic failure to continue

by Michael Burke.

The Tory election campaign is based on the claimed success of the government’s economic policy, as the hype around the latest budget confirms. In reality the Tories’ economic record has been unprecedentedly poor. Their economic policy is not primarily aimed at increasing growth or prosperity but rather at effecting a fundamental change in the economy […]

Osborne’s budget message: government of the rich, by the rich, for the rich

by Michael Meacher.

Osborne’s shamelessness knows no bounds. Having generated the most polarised society in class terms since the Edwardian era, he has the gall now to be focusing Tory electoral appeal on a brazen tax giveaway confined to the extremely rich. It’s an outrage that with only 50 days to the election he’s now giving notice that, […]

Performance-related pay is a myth to excuse greed

by Michael Meacher.

It has been reported today that Bob Dudley, chief executive of BP, received a 25% rise in total pay and bonuses last year even though shareholder returns deteriorated and company profits fell back significantly because of the halving of the world price of crude. According to BP’s annual report published yesterday, his overall pay rose […]

If you think bankers are greedy and self-interested, you should meet fund managers

by Jon Lansman.

The latest incomes data shows bankers still getting obscenely high remuneration and whopping big bonuses, yet they are being overtaken by another group within the finance sector. Fund managers have now overtaken the pay and bonuses of bankers, though they’re keeping it very quiet. They say there’s no need for customers (i.e. the investing public) […]

Worse than the tax evasion is the stench of class society

by Michael Meacher.

There could hardly be a more poignant vignette of Britain today than the hidden truths revealed by the HSBC Swiss bank. Five years after this colossal tax evasion and avoidance scam was known to the UK authorities, there has been 1 prosecution. At the same time, in just one of those 5 years (2013), no […]

The detritus of neoliberal capitalism

by Michael Meacher.

The HSBC Swiss bank is not an isolated episode. It is part of a general pattern exposing the underlying ideology which has been globally dominant over the last three decades. That ideology has been about consolidating the power and wealth of the world’s richest class, particularly in the West. It is based around the idea […]

Why isn’t inequality a central issue in this election?

by Michael Meacher.

Inequality ought to figure much more sharply in this election than it has done so far. The reasons are obvious: the grotesque injustice in the widening gap between the top 1% (and more particularly the top 0.1% and most of all the top 0.01%) and the rest of us; the way that austerity has been […]

This government is more class-ridden than Thatcher’s

by Michael Meacher.

Yesterday’s report that the government has exempted developers who turn an empty building into private housing from having to build further affordable housing not only gives super-rich investors like the Abu Dhabi investment fund a free windfall of hundreds of millions of pounds, it also deprives some of the poorest families of the affordable housing […]

Why the objectors to a citizens income are wrong

by Phil Burton-Cartledge.

The first rule of polemic is if you’re going to argue against someone’s position, at least do it in an intellectually honest fashion. Falling short of this is Sally Gimson’s piece on Progress. Sally attacks the Citizen’s Income on the grounds that because Charles Murray, author of the notorious and reviled The Bell Curve, and […]

Unequal Britain – one million millionaires, another million depend on foodbanks

by Michael Meacher.

The latest report on UK wealth has just discovered that there are 840,000 persons in the UK who are dollar millionaires (i.e. have assets of at least £660,000 excluding their main home) and that this number is expected to reach a million $millionaires within 3 years. That’s the same year when average wages are predicted, […]

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