Posts Tagged ‘The Rich’

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 […]

It’s time for politicians to stop swooning before billionaires

by Michael Meacher.

If you ask people who runs Britain today, they will almost certainly focus (correctly) on the banks, media and corporate bosses, plus the police, lawyers and accountants who are their agents in protecting their supremacy. Politics and finance have become one, with business leaders trooping into No.10 as regularly as heads of state. There’s nothing […]

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) […]

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 […]

How we should get tougher on the tax cheats

by Michael Meacher.

The revelations in the Guardian, BBC Panorama and elsewhere are truly staggering. It shows how a HSBC-owned private bank in Switzerland actively colluded with hyper-rich clients to enable them to avoid EU taxes, to conceal undeclared ‘black’ accounts from their domestic tax authorities, to help them withdraw bricks of cash in foreign currencies so as to launder […]

Introducing Stefano Pessina, billionaire tax dodger, who says Labour is bad for Britain

by Phil Burton-Cartledge.

Shiver me timbers, a billionaire businessman provides the party for billionaires some much-needed succour by attacking Ed Miliband and Labour as a ‘catastrophe for Britain‘. Stefano Pessina, the chief executive of Boots says a Labour government would “not helpful for business, not helpful for the country and in the end it probably won’t be helpful […]

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 […]

Blair pays less tax as business continues to boom (for him)

by Jon Lansman.

Tony Blair (trading as Tony Blair Associates or TBA) suffered a  in profits last year according to the accounts of some of the principal companies in his complex network of companies and partnerships he maintains, presumably to obscure his true ‘worth’ and earnings and to limit his tax liabilities. Profits of Windrush Ventures limited dropped from £2.8m to […]

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