Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/660/11296

From The Socialist newspaper, 3 March 2011

News in brief

Energy rip-off

British Gas, the privatised energy giant, recently announced a 24% surge in profits in 2010. This was largely achieved on the back of screwing its customers with higher bills. Its parent company Centrica boasted a 39% rise in operating profits to 2.4 billion.

Eight million British Gas customers were hit with a 7% price hike on 10 December, resulting in an average customer's dual fuel bill rising from 1,157 to 1,239. The price increase coincided with the UK recording the coldest December temperature in 100 years.

The usual lame excuse from British Gas was to blame the price rise on rising wholesale prices. However, Centrica has a major stake in gas fields in Norway and elsewhere, meaning that they also benefit from rising wholesale prices.

Back in 2008 Centrica's managing director, Jake Ulrich, said consumers struggling with record-high gas prices should keep warm by putting on two jumpers.

A better idea would be to renationalise all the privatised energy utilities to provide cheap and reliable fuel for everyone.

Failure pays

It appears to be an 'iron law' of capitalist finance that irrespective of how badly a bank performs it is obliged to handsomely reward its top dogs. The latest bank to apply this law is the Royal Bank of Scotland (RBS), which has just given 1 million each to 100 of its bankers and 2.04 million to its boss Stephen Hester.

This bonus bonanza makes a mockery of the government's 'Project Merlin' deal with the banks, which was meant to deliver restraint on bonuses and top salaries in return for not introducing financial regulations on the City.

In case anyone has forgotten, RBS holds the record for the biggest bank loss in UK history. In 2008 it recorded a 24 billion loss, 3.6 billion in 2009 and 1.1 billion last year.

And while hundreds of thousands of public sector workers face redundancy and millions of people are being subjected to government cuts in services and benefits, RBS has been saved from collapse by the last Labour government and the present Con-Dem coalition with a bailout of billions of pounds from public funds.

Sterling advice

As desperate British workers flee Libya to avoid Gaddafi's violence, it is worth reflecting on the British government's UK Trade and Industry document 'Investing in Libya' of last year:

"Change is in the air... Not political change, but clear business opportunit[ies] for those patient, persistent and determined enough to take it. Personal relationships really matter a lot in Libya... you will not do business here long-distance, but by being here, often."

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


In The Socialist 3 March 2011:


Anti-cuts campaign

Stop the cuts

Marching on the Con-Dem conferences in Wales

Fighting the cuts: Thousands protest, lobby and occupy

Lewisham election: There is an alternative!

Determination to beat the cuts


International socialist news

Fantastic results in Irish election: Socialists and lefts gain five seats

Elections see collapse of Fianna Fail, the traditional establishment party


Socialist Party news and analysis

Coalition steps up assault on NHS

Westminster: Save our children's services

Who 'agrees with Nick' now?

News in brief


Socialist Party workplace news

Largest protest yet against Wisconsin Governor's anti-union bill

Unison witch-hunt: Reinstate the Four!

End the blacklist

Workplace news in brief


Youth fight for jobs

Jarrow to London: March for jobs

CWU youth conference 'ready and willing to take action'


Socialist Party women

International Women's Day 2011: Women and the fightback


Socialist Party congress 2011

Socialist Party 2011 congress - a party growing in strength


International socialist news and analysis

Libya: A fight to the finish

Tunisia: Revolution and counter-revolution on the streets


Marxist analysis: history

Liverpool 1983-87: the council that fought Thatcher


 

Home   |   The Socialist 3 March 2011   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Energy:

triangleHurricane Harvey: A tragedy made far worse by capitalism

triangleCorbyn's manifesto: An important step in the right direction

triangleTories out! Corbyn can win with socialist policies

triangleTheatre review: Fracked! Political satire skewers frackers

triangle47,000 kids exposed to illegal toxic air

Gas:

triangleAnti-fracking campaigners' legal fight

triangleHundreds evacuated after Labour council dismisses cracks in tower blocks

triangleGMB union should support anti-fracking campaigners in Fylde

triangleToxic fracking could start in England in 2017

RBS:

triangleFinancial hardship facing millions of cancer sufferers

triangleNHS v RBS

triangleButterfields victory: housing crisis can be beaten

Libya:

triangleForeign aid corruption: capitalism to blame

triangleLibya: imperialist intervention helped wreck country and revolution

Royal Bank of Scotland:

triangleTreasury boss attacks call to nationalise Tata

Reports and campaigns

Reports and campaigns

19/10/17

North West

Arriva North West bus drivers strike over pay

18/10/17

Democratic rights

Conference on state spies: who's watching who?

18/10/17

Leeds

Striking back against sackers' charter at Leeds Uni

18/10/17

Royal Mail

Royal Mail bosses block strike - back postal workers

18/10/17

PCS

Balloting members on the pay cap

18/10/17

Art

'Dazzling' Bad Art show points to socialist future

18/10/17

Council

Sheffield Labour council threatens peaceful protesters with prison

18/10/17

South West Wales

Hundreds turn out for rally aimed at removing west Wales Tory MP

18/10/17

NHS

Uprising to save the NHS!

18/10/17

Socialism

Can you donate to the Socialism 2017 appeal?

18/10/17

East London

No cuts - hands off King George A&E!

18/10/17

North London

North London hospital workers fight cuts and job losses

18/10/17

BAE

Nationalise to save jobs at BAE Systems

18/10/17

Schools

Schools "can't go any further" - stop the cuts: set deficit budgets now

18/10/17

Swansea

Socialist Students 'welcome' Hillary Clinton to Swansea

triangleMore Reports and campaigns articles...


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

triangle19 Oct Arriva North West bus drivers strike over pay

triangle18 Oct Russia, October 1917: When workers took power

triangle18 Oct Tories torn - bin them now

triangle18 Oct Royal Mail bosses block strike - back postal workers

triangle18 Oct Balloting members on the pay cap

triangle13 Oct The end of the Tories?

triangle11 Oct Nasty party imploding...drive out the Tories

More ...

triangle21 Oct Birmingham: NSSN Solidarity Forum

triangle23 Oct Chesterfield Socialist Party: The continuing struggle for abortion rights

triangle24 Oct Liverpool Socialist Party: The October Russian Revolution 100 years ago to the day

triangle25 Oct Salford Socialist Party: The October 1917 Russian revolution

More ...

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

Archive

Archives:

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