Link to this page: http://www.socialistparty.org.uk/issue/511/3441
From The Socialist newspaper, 22 November 2007
News in brief
Unfair pack
THE GOVERNMENT has underwritten Northern Rock by billions of pounds. But up to 150,000 low income people who are owed money after last year's collapse of Christmas savings club Farepak, may not be paid until next spring. That is 18 months after the collapse.
Savers lost an average £400 each last year. But the compensation will only pay back 5p for every £1 lost, roughly £20! Low-paid women in particular were forced into a "cycle of debt" by Farepak's collapse, many being forced to borrow from relatives or take out expensive loans.
Water rip-off
SOUTHERN WATER, a private company supplying 1.8 million households with water and sewerage services, has been fined £20.3 million, the biggest fine ever imposed by 'regulator' OFWAT. Southern Water overcharged its customers by an average of £10.50 per household.
The fine is supposed to be met from dividends. But Southern's customers will need to keep an eye on them. Most fines for big companies just get passed on to customers or to workers in some way or other.
Profit or lives?
DRUGS multinationals could receive mark-ups of 700% under a plan, spearheaded by Gordon Brown, to fund the development of a vaccine for pneumococcal disease, which causes pneumonia, Africa's worst child-killer. £750 million was donated for the scheme, but 80% will go in profits to the companies.
Governments in the advanced capitalist world pay production costs, plus an agreed margin, to help provide 'incentives' for the pharmaceuticals industry to develop such drugs instead of more profitable drugs for the Western market.
US drugs giant Wyeth already manufactures the vaccine for Europe and America, so their costs will be negligible. Experts say millions more children could be treated even if the industry just accepted a lower profit margin.
Nigeria
THE CAMPAIGN continues to defend the detained Nigerian student activists and Democratic Socialist Movement (DSM) members, Olatunde Dairo, Taiwo Hassan Soweto and Akinola Sakuri. They are all facing trumped-up charges, including conspiracy and attempted murder.
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In The Socialist 22 November 2007:
Socialist Party NHS campaign
Defend Karen Reissman: Defend free speech and trade union rights
Banking Crisis
Nationalise Northern Rock permanently to safeguard workers' interests
International socialist news and analysis
SOLIDARITY APPEAL: Defend Tukwila Teachers Threatened with Termination for Antiwar Student Walkout
France: massive public sector workers' strike
Socialist Party news and analysis
SNP budget will not satisfy expectations
Detention without trial: Defend civil rights
New attacks on incapacity benefits
'Cheap and nasty' Camden council to shut deaf school
Socialism 2007
Socialism 2007: Inspired by past victories, preparing for future struggles
Education
Support the Northern Ireland classroom assistants
Cardiff schools: Parents march against closure threats
Socialist Party features
Rail transport: Overpriced, overcrowded, underinvested
Train drivers strike in Germany
Labour's pensions - a social time-bomb
International socialist news and analysis
Denmark general election: Socialist People's Party doubles its MPs
GM, Chrysler, and Ford's 'race to the bottom'
Workplace news and analysis
Postal workers campaign against "MacMail"
Doncaster Hospital workers on strike for £9,000 back pay
National Union of Journalists: Standing up against the robber barons
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