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From The Socialist newspaper, 28 May 2014

Super-wealthy get richer

Dave Carr

To join this club you need a minimum of 85 million. That's right; it's membership of the Sunday Times Rich List, featuring Britain's thousand wealthiest people. With sickening regularity, this year's list shows that the super-rich have got even richer.

This glaring inequality will further antagonise the overwhelming majority in the UK who continue to be battered with government imposed austerity, wage cuts, zero-hour contracts and ever rising utility, transport and housing costs.

The list reports that the richest 1,000 people in Britain have increased their wealth by 15% in the last year to an unimaginable total of 520 billion. That's enough money to run the NHS for several years and still have enough left over to build millions of new affordable homes, scrap tuition fees and do much more besides.

Deficit

These mega-rich individuals collectively increased their combined fortunes by 70 billion last year. So what is Chancellor George Osborne waiting for when he demands that the budget deficit is eliminated? It's simple George, slap a wealth tax on these people and restore the cuts in jobs, benefits and public services!

Of course the millionaire, Oxford-educated Tory chancellor has no intention of imposing a levy on his chums. But that hasn't stopped him imposing a pernicious bedroom tax and removing council tax support for the poorest in society, while reducing the top rate of income tax and corporation tax. And for good measure he's left open enough tax loopholes to allow the richest to salt away their wealth in offshore tax havens.

But is Labour leader Ed Miliband jumping up and down demanding the application of tax justice measures? No. As usual, he's as quiet as a church mouse for fear of antagonising big business.

And what about the darling of the mass media - the 'anti-establishment' establishment Ukip? Not a peep from Nigel Farage. But that's not surprising as one of his party backers is Paul Sykes, who just happens to be a member of the rich list club!

Working class people need a new, mass party with socialist policies to end this unacceptable social inequality. That's why continuing the important pioneering electoral work of the Trade Unionist and Socialist Coalition will assist in bringing about such a vitally necessary party.

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In The Socialist 28 May 2014:


Socialist Party election analysis

Con-Dems get a kicking

2014: The 'rejection election'

Euro elections revolt against capitalist establishment

Local elections 2014: A good base for TUSC to build on

Election appeal - don't delay!


International socialist news and analysis

India: resistance will grow after Modi victory


Socialist Party news and analysis

Unemployment kills: Fight for jobs

Super-wealthy get richer

Privatisation threatens postal service

Them & Us


Socialist Party workplace news

PCS conference: Preparing for more battles

Care UK workers plan more action

NUT supports coordinated action on 10 July

Land Registry strike may just be the beginning

Wales TUC: If it wasn't for the socialists...

Workplace news in brief


Socialist Party reports and campaigns

Anti-cuts rally defies council ban and BNP

Nottingham: Fighting the Bedroom Tax

Bradford campaign for 10 an hour


The Socialist readers' comments

Why I didn't rejoin Labour

The Socialist postbag


 

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