Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/936/24613

From The Socialist newspaper, 15 February 2017

Foreign aid's not the problem - it's capitalist thieves

photo Neil Palmer (CIAT)/Creative Commons

photo Neil Palmer (CIAT)/Creative Commons   (Click to enlarge)

Ross Saunders, Socialist Party Wales

Twenty-four times as much money is looted from poor countries in the global south than is sent in aid, according to financial transparency campaigners GFI.

The money sent out of poor countries outstrips money sent into them by an eye-watering $3 trillion.

Countries in the OECD, which includes most advanced capitalist economies, give $125 billion a year in aid to the rest of the world. In total, they send $1.3 trillion over their borders, when investments and other transfers are included.

But that figure is dwarfed by the $4.3 trillion sent back.

Debt

A hefty chunk of the cash is interest on debt, and goes straight to the big western banks. Many countries don't stand a chance of ever paying their original debts back. Reported profits for foreign investors make up another big slice.

But the majority - $13.4 trillion since 1980 - is profits smuggled illegally out of poor countries by big corporations and sent to tax havens, many of them based in British territories like the Virgin Islands.

Profiteering and tax avoidance by the super-rich in countries like Britain are part of the reason we don't have the money needed to fund public services. Public sector union PCS estimates Britain loses 120 billion of tax money every year. Exactly the same robbery by the rich keeps the poorest people on the planet poor.

Right-wing politicians and populists try to set ordinary working class and poor people from different countries against one another, with claims that foreign aid is the reason we don't have enough money to run our public services.

But in reality we share the same enemy: the tiny number of super-rich who exploit us all.

When the Panama papers scandal hit the headlines, Jeremy Corbyn said that British territories should be stopped from operating as tax havens. That's good, but unless we go further British companies will just find new methods of exploiting the poor around the world.

We should nationalise the biggest companies that dominate our economy to stop the greedy capitalists who run them now from ripping us all off. With socialist policies like that, a post-Brexit Britain would be far from isolated in the world.

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


In The Socialist 15 February 2017:


What we think

Council cuts can be fought - and they must be

Corbyn needs to stand up to Brexit rebels


Socialist Party news and analysis

March to save #OurNHS

Resist Trump and his rotten policies: why I'm walking out on 'Day X'

Socialist Students: growing, brimming with confidence

Thousands march to defend Glenfield heart centre

Save child refugees, fight the cuts

Prison deaths scandal

Super-rich subsidised


International socialist news and analysis

Spain: clear win for left at Podemos conference!

CWI and Izquierda Revolucionaria - towards unification

Izquierda Revolucionaria central committee meeting

French presidential election

France: police attack triggers protests

Yemen solidarity


Workplace news and analysis

United fightback needed as entire grade of rail worker is at stake

"Disgraceful" treatment of sacked EHRC workers

Vibrant Picturehouse pickets in continued living wage strike

Ultimatum as Deliveroo drivers down tools in Brighton

Solidarity with Tesco Ireland Valentine's Day strike

PCS union pledges to fight Jobcentre job losses

Workplace news in brief


Socialist Party reports and campaigns

Anti-trade union laws used against 'Trees Action' protesters

Support floods in for the Cardiff no-cuts three

The Socialist: 20 years old and more important than ever

Toxic fracking could start in England in 2017

May Day greetings in the Socialist

New Socialist Party press


Socialist readers' comments and reviews

No, Trumpism is nothing like Leninism

Foreign aid's not the problem - it's capitalist thieves

Vivid visual account of the Paris Commune

The Socialist inbox


 

Home   |   The Socialist 15 February 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Foreign Aid:

triangleForeign aid corruption: capitalism to blame

triangleThe Socialist Inbox

triangleForeign aid - chaining the world to capitalism

Capitalist:

triangleWhy I joined the Socialist Party: "I started to question whether there was a better way"

triangle'Paradise' for billionaires - austerity for us

triangleSocialism 2017: ideas to change the world

triangleSheffield North Socialist Party: The causes of capitalist crisis

Aid:

triangleStop the cuts - save our vital services

triangleHurricane Harvey: A tragedy made far worse by capitalism

triangleCampaigners fight second Yorkshire Women's Aid closure in two years

Tax:

trianglePFI privateers dodge tax

triangleRobber bosses own $6trn

Rich:

triangleCan you donate to the Socialism 2017 appeal?

Britain:

triangleEast London & Tower Hamlets Socialist Party: 2017 - From Trump to Paradise Papers; a year in review

Debt:

triangleMarch for free education! We demand a future!

Public sector:

triangleBosses say 217 years to close pay gap - workers' struggle can close it now!

Economy:

trianglePowerful picture of the Port Talbot steel workers' struggle

Reviews and comments

Reviews and comments

15/11/17

The Socialist

The Socialist Inbox

15/11/17

Abortion

TV review: Abortion on Trial - hard-hitting look at impact of 1967 act

15/11/17

Vietnam war

Comprehensive account of bloody conflict

8/11/17

Letters

The Socialist inbox

8/11/17

Obituary

Obituary: Paul Randall, 1959-2017

8/11/17

Theatre

Welsh update of Chekhov an engrossing tale of 1980s class conflict

1/11/17

Letters

The Socialist inbox

25/10/17

Letters

The Socialist inbox

25/10/17

Fidel Castro

New musical on life of Castro

25/10/17

Film

Film - Dennis Skinner: Nature of the Beast

25/10/17

Russian revolution

Well-deserved ridicule of Stalinism is impressive, funny but flawed

18/10/17

Port Talbot

Powerful picture of the Port Talbot steel workers' struggle

18/10/17

Russian revolution

October 1917 reviews: 'More bright than any heaven'

11/10/17

Theresa May

Theresa May, Frida Kahlo and turning women into wares

11/10/17

Docks

Poverty, repression and fightback on the docks

triangleMore Reviews and comments articles...


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

triangle15 Nov March for free education! We demand a future!

triangle15 Nov Tories on the brink - kick them out!

Socialism 2017

triangle14 Nov Socialism 2017: Organising to fight back

triangle13 Nov Strike wave continues with 49 walkout days by housing workers

triangle10 Nov US: Historic vote for Ginger Jentzen campaign in Minneapolis

triangle10 Nov Strikers picket the South Western Railway network

triangle10 Nov Europe in crisis, revolutionary winds in Catalonia

More ...

triangle20 Nov Birmingham Central Socialist Party: How can socialists support upcoming strikes?

triangle21 Nov Cardiff Socialist Students: Socialism and the struggle for LGBT rights

triangle21 Nov Birmingham South East Socialist Party: NHS in Meltdown - What can be done?

triangle21 Nov Sheffield North Socialist Party: The causes of capitalist crisis

More ...

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

Archive

Archives:

November 2017

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