Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/828/19460

From The Socialist newspaper, 8 October 2014

UK - A tax haven for the super-rich

Simon Carter

Prime Minister David Cameron pledged at Tory party conference to make tax cuts to assist 30 million "hardworking families".

However, according to tax experts, the main beneficiaries won't be the claimed 30 million but only the rich. According to the Institute of Fiscal Studies only 15% of the gains from increasing the personal tax allowance would benefit the poorest 50% of people in the country.

And to pay for these £7 billion of tax breaks the millionaire Tory Chancellor, George Osborne, intends to apply more brutal public spending cuts. These include hitting 10 million households with a two-year freeze on benefits and tax credits amounting to £3 billion.

These extra cuts will devastate the poorest and most vulnerable families, who could lose up to £490 a year, are on top of the government's current austerity measures.

And having got the Tory party faithful salivating over these attacks Osborne tossed them another bone in the shape of continuing to freeze public sector workers' pay until 2017.

These attacks are entirely consistent with the Tory strategy of making the working class pay for the crisis in capitalism. Last year, Osborne introduced the hated 'bedroom tax' at the same time as lowering the top rate of income tax.

But with one eye on an angry electorate the Chancellor revived his discredited 'were all in it together' soundbite by announcing (again) that he's going to crack down on aggressive tax avoidance by the super-rich and giant corporations like Apple and Starbucks, etc.

George failed to mention that, like his Labour predecessors, he has consistently reduced the standard rate of corporation tax to one the lowest in Western Europe.

In addition, he has cut the tax rate on company profits derived from 'patented products' making the effective rate of corporation tax in the UK the lowest in the EU. As one economist put it: "The UK is now a tax haven for corporations"!

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


In The Socialist 8 October 2014:


Socialist Party news and analysis

We need ideas to change the world

NHS - The black hole

UK - A tax haven for the super-rich

Them & Us


International socialist news and analysis

South Africa: "A workers' party must emerge"

Middle East: Repel IS and Western imperialism

Coordinated attacks on Hong Kong movement

Ebola crisis: Consequence of profit before health

Stop corporate plunder of Bangladesh energy


Socialist Party workplace news

We can beat the pay freeze!

Public sector: why we have to strike

RMT tube workers join October action

Teachers: Pay rise? What pay rise?

Support Care UK day of action

Sheffield: Green workers red with anger

M25 maintenance workers protest


Socialist Party reports and campaigns

Training tomorrow's trade union militants

Finance to fight for the future

School students organise disabled rights meeting

Ice cream, you scream, we all scream for £10 now!


Readers' comments

Exhaustion from buzzer to buzzer

Bedroom Tax: Still making tenants' lives hell

Scotland: Workers need a new mass party

Correction: Labour's private health links are worse!

Thatcher's enemies within


Obituary

Andrew Price: Fighter, teacher, party campaigner


 

Home   |   The Socialist 8 October 2014   |   Join the Socialist Party

Subscribe   |   Donate   |   PDF  |   ebook






Related links:

Super-rich:

triangleReject Starmer's Single Market u-turn

triangleThe have-yachts and the have-nots

triangleThe Socialist inbox

triangle1,000 super-rich own £658 billion!

triangleMcDonnell promises reversal of Tories' tax cuts for the super-rich

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?

Rich:

triangleWhole establishment exposed for role in Grenfell fire

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

triangleMélenchon result shows potential for building a mass left force

Pay:

triangleMcStriker addresses Greenwich trade unionists

triangleTUC congress 2017: time for action on pay

Cuts:

triangleBoost to Chatsworth NHS campaign

News and socialist analysis

News and socialist analysis

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!

6/9/17

Global warming

Extreme weather events and global warming

6/9/17

Education

Schools and teaching: A perfect storm of cuts, underfunding, excessive workloads and low pay

6/9/17

TUC

Tories weak: time for the TUC to act

6/9/17

Disabled

UN slams Tories for disabled rights ruin

6/9/17

Culture

Problem gambling soars by 33%

6/9/17

Them & Us

Them & Us

31/8/17

Labour

How to help the struggle to change the Labour Party

triangleMore News and socialist analysis articles...


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

triangle19 Sep Bin workers vote to continue action following rally

triangle13 Sep Readmit the socialists - for a federal Labour Party

triangle13 Sep Korean peninsula: is nuclear war likely?

triangle13 Sep Kick out the Tories, fight for free education!

triangle13 Sep Thousands march - mayor needs real anti-cuts strategy

triangle12 Sep Tories retreat on pay cap

triangle11 Sep Barts strike - 'Up the ante' if necessary

More ...

triangle19 Sep Manchester Socialist Party: The Rohingya refugee crisis

triangle19 Sep Birmingham South East Socialist Party: What is socialism?

triangle20 Sep Salford Socialist Party: The 1871 Paris Commune

triangle20 Sep Cardiff West Socialist Party: The legacy of slavery

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