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From The Socialist newspaper, 14 June 2017

City bosses' 40m bonuses as Number of food banks hits 2,000

The bosses' greed knows no bounds, photo Mike Mozart/Creative Commons

The bosses' greed knows no bounds, photo Mike Mozart/Creative Commons   (Click to enlarge)

Tories out! Corbyn in! Take the wealth off the 1%!

Geraint Thomas, Nottingham Socialist party

While working class people across Britain go hungry, directors of massive corporations continue to rake in obscene bonuses.

Senior bosses at investment firm Melrose Industries will split a 240 million bonus pot between them. The top four directors are getting a whopping 40 million each.

Even London financiers are worrying about how bad handouts like this look. But the warning by the Investment Association of revolts at corporate AGMs over bonuses seems to be falling on deaf ears.

Benefit delays

Meanwhile, research by the Independent Food Aid Network found that there are at least 2,024 food banks in the UK.

The Trussell Trust, running just 427 of these food banks, recorded that it had handed out 1.2 million food parcels to an estimated 550,000 people.

Low income and benefit delays were the biggest reasons for workers being forced into the humiliation of going to food banks.

These figures only scratch the surface of the problem. Several co-workers at my last job regularly made the choice of heating or eating over the winter thanks to low hours and pay. Even nurses are affected, hit by the pay cap and rising living costs - hardly the "complex reasons" Theresa May claimed.

The Melrose bosses' 240 million will be paying for expensive cars and mansions and filling up tax-dodging banks. That money could easily be used by a Corbyn-led socialist government to create thousands of decently paid jobs.

The billions more paid as executive bonuses and shareholder profits across the top companies could eliminate hunger and poverty, rather than propping up the lifestyles of the have-yachts.

Take the wealth off the 1%. Mobilise mass demonstrations for a Corbyn-led government. Fight for socialism.

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In The Socialist 14 June 2017:


Socialist Party news and analysis

City bosses' 40m bonuses as Number of food banks hits 2,000

Low-paid work till lunch to make rent

Young workers in unions earn 20% more

Corbyn surge beats Trump


General election 2017

May and Tories must go!

Northern Ireland: DUP propping up the Tories

Scotland - SNP loses but Labour could've won more

Wales: Corbyn's left surge refutes right-wing Labour doomsayers

General election: what you thought about it

Corbyn's support increases further during last week of campaign

Rallying in support of Corbyn's policies

Large turnout to hear Jeremy Corbyn


International socialist news and analysis

France - Huge voter abstention belies Macron's 'landslide' election

International news in brief


Socialist Party workplace news

NSSN conference: workers' action to kick out the Tories

GMB conference: angry mood from delegates

LSE victory

Window strikers joined by second plant

Exploited agency workers organise


Socialist Party reports and campaigns

The fight goes on - let's make it a socialist fight to win

Racist EDL humiliated for third time

From Militant to the Socialist Party


 

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Related links:

Bonuses:

triangleStop the 54,000 yearly maternity sackings

triangleBosses' bonus billions bonanza

triangleBuses parked three deep in Leeds strike

triangleThem & Us

Food Banks:

triangleMagic money tree

triangleFight Tories' callous cuts pushing 200,000 more kids into poverty

triangleWhat would a socialist food industry look like?

triangle30% of people on inadequate incomes in UK

Food:

triangleWe're freezing: reverse cuts to boiler replacement schemes!

triangleThe Socialist inbox

triangleObesity epidemic: end food market anarchy

Banks:

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triangleWidening wealth gap, increase in poverty...make the fat cats pay

Wealth:

triangleThem & us

Tories:

triangleCabinet chaos as shambolic reshuffle underlines Theresa May's impotence

Pay:

triangleSalford Socialist Party: Pay Up Now - Public sector workers need a pay rise!

Britain:

triangleSalford Socialist Party: Britain in 2018

Poverty:

triangleThem & Us

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