Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/742/15680

From The Socialist newspaper, 14 November 2012

National Shop Stewards Network lobby of the TUC congress in Manchester September 2010, photo Paul Mattsson

National Shop Stewards Network lobby of the TUC congress in Manchester September 2010, photo Paul Mattsson   (Click to enlarge)

Make the corporate tax dodgers pay up!

Nationalise gas, water and other utility companies

Starbucks, Google, Amazon, Pfizer - the list of corporate tax dodgers grows and grows. On top of that it has emerged that gas companies have allegedly been fixing the price of wholesale gas to further boost their mega profits. Becci Heagney explains another outrage in the utility companies.

Among the latest tax avoidance revelations, the Observer has exposed the water companies. Three main providers have paid little or no corporation tax, despite declaring hundreds of millions of pounds in profits and paying huge dividends to their shareholders.

Thames Water had a net cash inflow of 943 million in 2010-11 but only paid 26 million in tax and for 2012 they got a tax rebate of 79.6 million!

In 2012 Yorkshire Water paid just 2.9 million tax on operational profit of 303 million and one part of Anglian Water paid no corporation tax at all.

All of these companies paid their chief executives massive bonuses though. For example Peter Simpson, the boss of Anglian Water, got a bonus of 626,700 on top of his 300,000 salary. Collectively, between 2009 and 2011 these companies paid over 3 billion in dividends to their holding and financing companies.

Customers of these companies would be forgiven for thinking it strange, then, that their bills are going up this year. Anglian Water is increasing its bills on average by 22, Yorkshire Water by 21 and Thames Water by as much as 80 a year in 2014.

People feeling the pinch don't have much choice as in most areas one company has a monopoly and there is nowhere else you can go for lower prices. So much for Thatcher's 1989 Tory Party conference promise: "Once water is in the private sector, companies will...give the customer a far better deal."

These companies assert they are 'delaying', not 'avoiding', paying their tax. They borrow large sums of money and offset their interest payments against the amount of tax they are supposed to pay and also claim capital allowances on investments - promising to pay their tax 'somewhere' down the line.

We need to kick out these parasitical profiteers who increase prices, make massive profits but still refuse to pay tax.

All of the water companies should be brought back into public ownership. They should be run under democratic workers' control and management so that we have an efficient, affordable service.

The Socialist Party's programme includes:

If you agree - join the Socialist Party. Call 020 8988 8777

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


In The Socialist 14 November 2012:


 

Home   |   The Socialist 14 November 2012   |   Join the Socialist Party

Subscribe   |   Donate   |   PDF  




Related links:

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

triangleBangladesh: 'Hartal' protest against destructive power plant

Tax:

triangleProblem gambling soars by 33%

triangleAmazon tax halves as revenues soar - nationalise now!

triangleBlairite EU rebellion: no to the bosses' Single Market

triangleHow can Corbyn's programme be implemented?

Pay:

triangleStrike to save our NHS!

triangleCWU strike ballot - why I'm voting Yes

triangleDeal concludes Barts health strike - "We have raised our heads high"

Water:

triangleHurricane Harvey: A tragedy made far worse by capitalism

triangleJobstown Not Guilty trial round-up

Nationalise:

triangleDefuse the consumer debt time bomb: nationalise the banks!

News and socialist analysis

News and socialist analysis

20/9/17

Young people

Why do young people need socialism?

20/9/17

Debt

Defuse the consumer debt time bomb: nationalise the banks!

20/9/17

Universal Credit

Fight expansion of disastrous 'Universal Credit' welfare system

20/9/17

NHS

Strike to save our NHS!

20/9/17

London

Grenfell inquiry begins: not sufficient, not trusted

20/9/17

Labour Party

Labour conference: Corbyn's support must be used to defeat Blairites

20/9/17

Students

Fight tuition fees

13/9/17

Labour Party

Readmit the socialists - for a federal Labour Party

13/9/17

Health

Tories 'flouting duty' on poison air, says UN

13/9/17

Racism

Rate of black imprisonment worse than US

13/9/17

Nurses

"I've been placed in charge of wards without defibrillators"

13/9/17

TUC

TUC congress 2017: time for action on pay

12/9/17

Pay

Tories retreat on pay cap

11/9/17

NSSN

NSSN lobby of the TUC 2017: rank-and-file solidarity to smash the pay cap

6/9/17

Bin workers

Back the Brum bin strikers!

triangleMore News and socialist analysis articles...


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

triangle22 Sep Ledbury tenants fight for decent homes

triangle20 Sep Labour conference: Corbyn's support must be used to defeat Blairites

triangle20 Sep Fight tuition fees

triangle20 Sep Brutal repression of Rohingya people sparks massive humanitarian...

triangle20 Sep Why do young people need socialism?

triangle20 Sep CWU strike ballot - why I'm voting Yes

triangle20 Sep Grenfell inquiry begins: not sufficient, not trusted

More ...

triangle24 Sep Central London: Walk along the steps of Karl Marx

triangle25 Sep Birmingham Central Socialist Party: Care under Capitalism

triangle26 Sep Birmingham South East Socialist Party: What is Socialism?

triangle27 Sep Salford Socialist Party: How we can beat the Tories

More ...

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

Archive

Archives:

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