Posts under ‘Taxation’

Obama imposing $300bn levy on banks & hyper-rich: how about UK?

by Michael Meacher.

It is remarkable that in the citadel of capitalism Obama has just unveiled a plan to impose a levy on the biggest banks and on the wealthiest families that is expected to raise $300bn, yet in Europe any such idea is taboo. In the US the new tax is being crafted to affect only the […]

Labour can win if it’s bolder

by Peter Rowlands.

With only four months to go Labour can win, but only if two sets of conditions are fulfilled. Firstly, that there is internal discipline generating external unity, with the usual suspects forswearing any ‘advice’, at least until 7 May (Blair and Mandelson please note). This means Progress supporting the Miliband ‘ left’ line, which merely points in a […]

The real chill in the Autumn statement

by Dave Watson.

A budget package in December may not be Autumn, but it certainly had a real chill for those least able to afford its consequences. This was a classic Osborne budget statement. Massive real cuts, sugar coated by handing back a few pennies in the form of announcements on the NHS and infrastructure. Yes, Scotland will […]

Pain, no gain: the Austerity scam

by Jon Lansman.

To coincide with the Autumn Statement, PRIME Economics has published an excellent short pamphlet  Pain, No Gain: the Austerity Scam by John Weeks (Emeritus Professor of Economics, SOAS, University of London) which explains just why the deficit is not a problem – indeed is a necessary part of the solution – for the UK economy. In examining the […]

Angeline Jolie and the mansion tax

by Phil Burton-Cartledge.

Oh noes, whatever are we to do? Angelina Jolie might be put off from moving Brad and the kids to London. Why? Because of the mansion tax. I’m sure some Tories are happy that Jolie has, as we used to say in Trot circles, objectively lined up with their opposition to the tax. I don’t […]

Migrants pay in £20bn more than they take out

by Michael Meacher.

Migrants from the EU have a lower rate of unemployment than the UK-born population, according to an analysis of 2011 census data just published by ONS. They also make a net contribution to the British economy whilst the UK-born population involve a net cost to the economy. This is a stunning conclusion when the prevailing […]

Labour needs a shadow Minister specifically to tackle inequality

by Michael Meacher.

The gravy train rolls on reaching ever more sickening heights of greed, selfish gratification and disregard for the ever deeper miasma of poverty that disfigures our country. The latest figures show that the richest 10% of the UK population, who already owned 52% of UK wealth just before the 2008 crash, have become significantly richer […]

‘Secular stagnation’ is the outcome of deliberate policy — it can (still) be reversed

by Ann Pettifor.

Martin Wolf in the FT today strikes a  different direction from those secular stagnaters shepherded by Larry Summers towards the cliff-edge of endless doom. Larry Summers devised and popularised the term, “secular stagnation”. He has a lot to answer for. His misjudgements, poor advice to the Obama administration, and flawed analysis have been catastrophic for the global […]

Cut corporate welfare not people’s welfare

by Michael Meacher.

Corporate welfare has been estimated in a University of York social policy study to cost British taxpayers nearly £85bn a year. That is not far short of the current level of the entire budget deficit which is still £100bn. If industrial-scale corporate tax avoidance were added in to the corporate welfare state, the cost to […]

Ignore the special pleading of millionaires against mansion tax

by Jon Lansman.

We never have had much time for the knocking copy regularly provided by a bunch of has-beens who never backed Ed Miliband in the first place. When things get tough, you can guarantee that they’ll parade their disloyalty through the newsrooms and TV studios. And so it was this weekend that the first pair of traitors – Lords Levy and Noon took […]

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