We have always known that this was a government of the rich, by the rich, for the rich. But a striking confirmation of this has come from research by the GMB drawing on data from the Electoral Commission and the Register of Members’ Interests. It shows that a quarter of the 1,000 ultra-rich persons in […]
Posts Tagged ‘Super-rich’
FTSE-100 chief execs down to their last £92,308 a week
Jun 13th, 2012 by Michael Meacher.Another story for ‘We’re all in it together’. A survey just published by Manifest/MM&K has found that the average pay of chief executives of FTSE-100 companies is now £4.m millions a year , just under £100,000 a week (though that threshold will probably be crossed next year). The average pay in their remuneration – salary, […]
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Glencore-Xstrata shenanigans show corporate managerial power out of control
Jun 3rd, 2012 by Michael Meacher.The joint stock company, the foundation unit of modern capitalism, is dead. But corporate managerial capitalism is alive and kicking. Whatever the constitutional theory that shareholders are in ultimate control, this myth is daily confounded by repeated evidence of management takeover from the inside. Shareholdings have become so remote and so fragmented, and the tentacles […]
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Another unmentionable word in the Queen’s Speech: wealth
May 10th, 2012 by Michael Meacher.Apart from assuring us that the government’s main objective was economic stability – the stability of the graveyard it seems in this government’s case – the only other significant things in the Queen’s Speech were what it didn’t contain, not anything it did contain. Nothing about housebuilding, an infrastructure bank, reviving manufacturing, boosting capital investment, […]
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Britain’s 1,000 richest persons made gains of £155bn in last 3 years
Apr 30th, 2012 by Michael Meacher.The Sunday Times Rich List, published yesterday and compulsory reading for anybody who wants to understand Britain’s power structure today, holds three extremely significant conclusions. One is that the 1,000 richest persons in the UK have increased their wealth by so much in the last 3 years – £155bn – that they themselves alone could […]
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Yes they’re all in it together
Apr 16th, 2012 by Michael Meacher.It’s a relief that even a City investor group (PIRC) is now challenging the accounts of Barclays, RBS, and HSBC, initially when the pay deal for Bob (greedy as Croesus) Diamond is put to the Barclays AGM in a fortnight’s time. It is proposed to pay him £17m, largely made up of an executive share […]
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All you can eat Buffett
Apr 12th, 2012 by David Osler.Not many political fads to emanate from the US deserve to make an Atlantic crossing. But the principle of a so-called Buffett rule is something that the left this side of the pond should at least be talking about. First enunciated in an op-ed piece in the New York Times last year, written by or […]
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Osborne stokes the cancer of British politics
Apr 9th, 2012 by Michael Meacher.After unveiling an anti-tax avoidance deal with the Swiss two weeks ago, the day before the budget, with the self-righteous puff “I regard tax evasion as morally repugnant”, Osborne is now under pressure to backtrack fast. What he did not say is that the tax rate he negotiated with the Swiss authorities that would be […]
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Osborne has at least shown every right-wing myth is false
Mar 24th, 2012 by Michael Meacher.After a dreadful budget we should be grateful for small mercies. But one large one is that his tenure over the last 2 years has shot just about every fox in the right-wing locker. Cutting tap at the top would benefit the whole country because the benefits would trickle down to the rest of the […]
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Who are the rich that Osborne is pandering to?
Mar 19th, 2012 by Michael Meacher.To give a tax break to people on more than £150,000 a year when the rest of the population, and above all the bottom half, are on the rack for a decade of austerity takes some doing. It shows more acidly than anything else could the sheer psychopathic mania of the ruling Tory elite for […]
