Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/229/9229

From The Socialist newspaper, 9 November 2001

Capitalist Crisis Worsens: Fight The Bosses' Attacks

THE WORLD'S economy is headed for what could be the biggest recession for half a century. And as usual in a class-ridden society, the bosses are trying to make workers pay for this crisis in their capitalist system.

In Britain an already sickly manufacturing industry has suffered badly. Factory output went down in September by 1.6%, the biggest monthly fall for nine years. Production is now nearly 4% lower than at this time last year.

The manufacturing sector is now deeper in recession than ever, worst of all in the computer and mobile phone makers - hundreds of jobs could disappear at one2one, Britain's fourth largest mobile phone operators. The trade unions should prepare to build resistance to job losses.

Now the problems of manufacturing have reached the service sector. The service industries' output shrank in both September and October, the worst results for at least five years. Already jobs are at risk in the insurance sector.

If you don't believe that this will hit jobs and working conditions, look at what's happening at British Airways (BA).

This giant airline suffered a fall in traffic of a quarter in October. They weren't only affected by the terror attacks in the US but by longer-term problems such as overproduction.

The media pundits only worried about BA's share prices but BA workers have different concerns. Their employers have already threatened them with 7,000 redundancies - many of them planned long before 11 September.

BA also plan to cut the pay of 30,000 workers as a cost-cutting measure. The bosses propose to withdraw the extra one week's holiday pay, due to be paid shortly and to stop the annual increment next year. They hope to save 37 million from this skinflint policy.

Wealthy shareholders won't suffer for long. Neither will fat-cat top managers. They claim that they're taking a 15% pay cut but they already earn far more than ordinary BA workers, some of whom are paid as little as 8,000 a year.

Workers should not pay the price - either in job cuts, living standards or work conditions - for capitalism's problems. Workforces must act in a united fashion to resist redundancies and fight for their jobs and conditions.


Fight Privatisation

Trade Union broad left anti-privatisation conference.
University of London Union, Malet Street, London WC1. Saturday 24 November, 11am-4pm.
Registration 5 per delegate to: Glenn Kelly, 37 Linale House, Murray Grove, London N1 7QH. Tel: 020 7251 8449.

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


In The Socialist 9 November 2001:

Paying The Price Of Bush And Blair's War

Capitalist Crisis Worsens: Fight The Bosses' Attacks

Desperate Measures Won't Stop Terrorism

World Economy: Deepest Downturn Since The 1930s?

Rebuilding Afghanistan? Lessons Of The Balkans Conflict

Protest in Brussels

Northern Ireland: An Agreement Based On Division

What Future For The Socialist Alliance?

Links With Labour Debated As Unison United Left Launched


 

Home   |   The Socialist 9 November 2001   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Capitalist:

triangleThe fight against racial discrimination is tied to fighting against capitalist austerity

triangleIMF helps cause inequality it slams

triangleCapitalism and human progress

triangleThe Tories must be driven out

triangleChe Guevara 50 years on - revolutionary socialist and fighter

Capitalist crisis:

triangleLambeth Socialist Party: USA - Fighting Trump and the struggle for a socialist alternative

triangleRight wing attempts to use single market against Corbyn

triangleBuilding workers' struggle and the forces of international socialism

London:

triangleTower Hamlets Socialist Party: "You can't have capitalism without racism" (Malcolm X)

triangleTower Hamlets Socialist Party: Capitalism in Crisis - is Corbyn the answer?

triangleWest London Socialist Party: Young people need socialism!

Pay:

triangleJustice for Tube cleaners demo

triangleThem & Us

Jobs:

triangleWorkplace news in brief

Manufacturing:

triangleBoeing bust-up threatens thousands of skilled jobs

British Airways:

triangleTravel chaos for Ryanair customers as airline cancels thousands of flights

News and socialist analysis

News and socialist analysis

13/10/17

Labour

The end of the Tories?

11/10/17

Tories

Nasty party imploding...drive out the Tories

11/10/17

Black history

The fight against racial discrimination is tied to fighting against capitalist austerity

11/10/17

Housing

Housing crisis: Corbyn's positive measures blanked by Labour's right

11/10/17

Universal Credit

Major attacks 'Universal Credit', half a million more face poverty

11/10/17

Them & Us

Them & Us

11/10/17

NHS

NHS meltdown - fight the Tory cuts

11/10/17

IMF

IMF helps cause inequality it slams

4/10/17

NHS

Tories wreck our NHS

4/10/17

Workers

Monarch abdicates responsibility to workers

4/10/17

Capitalism

Capitalism and human progress

4/10/17

Trump

Bending the knee v Trump

4/10/17

Tories

The Tories must be driven out

29/9/17

Labour

Labour Party conference: Action against establishment sabotage still needed

27/9/17

Anti-austerity

Anti-austerity opposition needed to seize on Tories' weakness

triangleMore News and socialist analysis articles...


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

triangle13 Oct The end of the Tories?

triangle11 Oct Nasty party imploding...drive out the Tories

triangle11 Oct CWU fights court attempt to stop national strike

triangle11 Oct The fight against racial discrimination is tied to fighting against...

triangle11 Oct Catalonia: Workers can finish what Puigdemont won't

triangle6 Oct Boeing bust-up threatens thousands of skilled jobs

triangle4 Oct The nasty party turns on itself... but the Tories must be driven out

More ...

triangle16 Oct Teesside Socialist Party: After the party conferences

triangle17 Oct London: TUC lobby & rally; and London march

triangle18 Oct Warrington & St Helens Socialist Party: 1917-2017; the October Russian Revolution

triangle18 Oct Hackney Socialist Party: 100 years ago - the Bolshevik-led revolution

More ...

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

Archive

Archives:

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