Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/659/11259

From The Socialist newspaper, 23 February 2011

Fast News

Return to greed

As youth unemployment neared the one million mark and as the official inflation rate hit 4% (while many workers are effectively suffering pay cuts), champagne corks were popping in the City bars as investment bankers celebrated their share of Barclays Group's 3.4 billion bonus pot.

Recently the financial world, after its greed-driven speculative bubbles burst, was teetering on the brink of collapse with huge debts. Only because UK governments pumped in over one trillion pounds of public money were the banks and other capitalist financial institutions saved. But without a scintilla of embarrassment the greedy bankers were toasting the return to mega-profits.

Barclays announced a 6 billion profit from over the last 12 months - or 190 every second. However, some bankers were reported as complaining that their bonuses were too low as they enquired about buying 70,000 sports cars!

Tax avoidance

Barclays bank came under further criticism after admitting that it only paid 113 million in corporation tax in 2009, despite making billions in profits. UK corporation tax is levied at a paltry 28% but it appears that Barclays only paid the equivalent of a miserly 1% in 2009.

Barclays has for years been accused of constructing a complex international web of financial schemes to avoid paying taxes in the UK and abroad.

Dealers in death

Hundreds of people have been killed in countries throughout North Africa and the Middle East in fighting to overthrow repressive regimes. It's no secret that western governments have long supported these dictatorships diplomatically, economically and with weapons.

In 2008 Labour government ministers agreed to send vehicles armed with water cannon to Libya. Subsequently, the Con-Dem government agreed export licences for the sale of tear gas, ammunition and 'door-breaching projectile launchers' to Gaddafi's regime in Libya and similar equipment, including machine guns, to Bahrain.

UK foreign secretary William Hague has now revoked licences for arms exports to Bahrain and Libya despite having stated that there was "no evidence" that Bahrain state forces had used tear gas sent by British companies.

Less well publicised is the involvement of UK governments in training these regimes' police and armed forces.

According to the Independent: "At present there are three full time [British police] advisers working with the Bahraini police, which was heavily implicated in the violent crackdown on protests in [the capital] Manama..."

Stop union busting

Over 70,000 public sector trade unionists and supporters rallied outside the state house in Madison, Wisconsin, USA, on 20 February to stop the Republican governor, Scott Walker, destroying collective bargaining rights in the state. This was the sixth consecutive day of mass protests over plans to slash wages and effectively ban unions.

See www.socialistworld.net for reports.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 23 February 2011:


Anti-cuts campaign

Public services: Not For Sale!


International socialist news and analysis

Region-wide revolution of the Arab people


Socialist Party youth and students

Hands off our future!

March for Jobs October 2011

Youth unemployment: No return to the 1930s!


Socialist Party news and analysis

Welfare Bill - Tories launch assault on the vulnerable

Lewisham by-election: back the socialist alternative

Manchester council's special pleading petition

Fast News


Socialist Party feature

Opposing all cuts: Thousands march across England and Wales


Housing crisis

Housing - no trust in private investors


Education

Victory for Huddersfield anti-academy campaign

Scotland: defending teachers' jobs

Balham: NUT strike against academies


Socialist Party workplace news

Support the Remploy workers

Council workers face pay freeze

Defend victimised union reps


 

Home   |   The Socialist 23 February 2011   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Bankers:

triangleTories torn - bin them now

triangleDefuse the consumer debt time bomb: nationalise the banks!

triangleBarclays finally charged for having hands in till

triangleCampaign launch: "rip-off bosses and greedy bankers - enough is enough!"

triangleTop banks post 67% of profits in tax havens - nationalise the banks!

State:

triangleIrish capitalist state: rotten to the core

triangleSpain: Madrid rally celebrates October revolution

triangleThe "club no-one wants to be part of" - march by families of those killed in police custody

triangleCatalonia: Rajoy's furious response to proclamation of Republic

Police:

triangleOrgreave campaigners' Halloween 'Death of Justice' march

triangleConference on state spies: who's watching who?

triangleSheffield Labour council threatens peaceful protesters with prison

Libya:

triangleForeign aid corruption: capitalism to blame

triangleLibya: imperialist intervention helped wreck country and revolution

Reports and campaigns

Reports and campaigns

7/12/17

RMT

Anti-DOO lobby of Liverpool's transport committee

7/12/17

Blacklisting

Unite protest against blacklisting

6/12/17

Donald Trump

Mobilise to stop bigoted billionaire Donald Trump's state visit to Britain

6/12/17

Transport

Arriva bus strikers stand firm

6/12/17

Pensions

BT pensions review - oppose the attacks on the pension schemes

6/12/17

PCS

Driving examiners walkout hits first day of new test

6/12/17

Newham

School staff strike against privatisation

6/12/17

Rail

Brutal rail privateer Abellio takes over Midlands rail services

6/12/17

PCS

PCS Left Unity celebrates 40th anniversary at annual conference

6/12/17

North Yorkshire

Court maintains injunction against fracking protesters

6/12/17

Waltham Forest

Waltham Forest Universal Credit protest

6/12/17

Coventry

Coventry Socialist sales hit 1,000

6/12/17

TUSC

TUSC conference to debate 2018 elections

6/12/17

Liverpool

Liverpool John Moores Uni landslide for Socialist Students

6/12/17

Kirklees

Plans to launch no-cuts campaign at Kirklees College

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle8 Dec Local government pay: fight for the full 5% claim

triangle6 Dec Strikers rally in Liverpool

triangle6 Dec Corbyn's Labour can defeat Tories with socialist programme

triangle5 Dec Victory at Glenfield shows people power can save our NHS

triangle5 Dec Labour council Blairites deselected

triangle30 Nov Victory: Glenfield Children's Heart Centre saved!

triangle30 Nov Dramatic retelling of Grunwick strike

More ...

triangle11 Dec Leeds Socialist Party: Campaigning workshop

triangle11 Dec Bristol North Socialist Party: Christmas Quiz

triangle12 Dec Birmingham South East Socialist Party: Can the Labour Party be changed?

triangle12 Dec Liverpool Socialist Party: Fighting council cuts

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Archives:

December 2017

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice

V2