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:

triangleGMB union should support anti-fracking campaigners in Fylde

triangleToxic fracking could start in England in 2017

triangleBangladesh: 'Hartal' protest against destructive power plant

triangleEnergy bill hikes con: nationalise them now!

triangleThe Socialist inbox

Tax:

triangleMay's 'dementia tax' wobble vs Corbyn's extra funds

triangleThe Socialist inbox

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

triangleTories out! Corbyn can win with socialist policies

Pay:

trianglePCS DWP conference 2017

triangleWork doesn't pay: Tory policies have meant another wages cut

triangleKick out the Tories: For a Corbyn-led government

Water:

triangleJobstown Not Guilty trial round-up

triangleProtest is not a crime: back Jobstown Not Guilty

Nationalise:

triangleCuts, profit and bureaucracy lead to 50% rise in mental health deaths

News and socialist analysis

News and socialist analysis

25/5/17

Socialist

Britain's election and the coming battle for Labour

24/5/17

Tuition Fees

Corbyn's pledge: free education - May's plan: hike fees

24/5/17

BBC

The media, May and the general election

24/5/17

Oil

Tory oil spoils v poisonous air

24/5/17

Pay

Work doesn't pay: Tory policies have meant another wages cut

24/5/17

Schools

Theresa 'Lunch Snatcher' May vs Jeremy 'free meals' Corbyn

24/5/17

Socialist

Corbyn in - Tories out

24/5/17

EU

Corbyn and Brexit: Why a socialist approach to the EU is needed

24/5/17

Labour

Obituary: Rhodri Morgan 1939-2017, architect of the 'Welsh Labour' brand

24/5/17

Ttip

Single market = TTIP

24/5/17

General election

May's 'dementia tax' wobble vs Corbyn's extra funds

23/5/17

Manchester

Manchester bombing: Unite against terror, war and racism

22/5/17

Capitalism

Capitalism condemned

17/5/17

Housing

One in three borrow for rent, Corbyn pledges housing revolution

17/5/17

General election

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

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialism Today 209 cover

triangle25 May Britain's election and the coming battle for Labour

triangle24 May The media, May and the general election

triangle24 May Corbyn and Brexit: Why a socialist approach to the EU is needed

triangle24 May Obituary: Rhodri Morgan 1939-2017, architect of the 'Welsh Labour'...

triangle24 May 5,000 march against plans to cut teachers

triangle23 May Manchester bombing: Unite against terror, war and racism

triangle22 May Capitalism condemned

More ...

triangle27 May Southampton Socialist Party: Tories Out! Jeremy Corbyn can win with a socialist programme

triangle27 May Leicester Socialist Party: Tories Out! - How Labour's left can win

triangle30 May Birmingham South East Socialist Party: Education in crisis - the socialist answer

triangle30 May Manchester Socialist Party: Chechnya - Gay rights and the repressions

More ...

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

Archive

Archives:

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