The Socialist

The Socialist 26 May 2010

Millionaire ministers butcher public services

Millionaire ministers butcher public services

Con-Dem cuts - 'only the beginning'


National Shop Stewards Network conference: Time to organise against con/dem attacks

Support BA Cabin Crew


Royal Mail not for sale

NHS cuts: The Con-Dem sting in the tail

Fast News

Sri Lanka: One year after the war

Socialist Party national committee discusses building the fightback


PCS conference: Preparing for action

Local government: Where's our pay award for 2010?

Fighting university cuts

Workplace news in brief


Young people: organise to fight the cuts

Socialist Party National Youth meeting

School student socialist

'Sussex Six' result

Students must pay, say the rich

Pamphlet: Our Education Under Attack: why a mass campaign is needed


London 2012 Olympics: A big business spectacle


Greece: 2,500 hear Socialist MEP Joe Higgins declare week of action

Romania: Mass protests against EU/IMF deal

Puerto Rico: Students and workers fight austerity cuts


Education under attack: Con-Dem government prepares for battle

Unions must defend public services

Tory government says rich must pay less


Diane Abbott and the Labour Party leadership battle

 
 

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Tory government says rich must pay less

CAMERON'S GOVERNMENT wants to cut public services drastically and make most people pay more through rising taxes (direct and indirect) to slash the deficit.

But they plan exemptions. Chancellor (and multi-millionaire) George Osborne wants next month's budget to help the rich with a 'five-year plan' of cutting corporation tax on the profits of limited companies.

The current corporation tax rate is 28p in the pound. Osborne thinks that his proposed corporation tax cut from 28% to an eventual 20% will encourage a private-sector led economic recovery.

But the last few corporation tax cuts have led to economic misery for most as the profit system brought deep recession.

Corporation taxpayers have done very nicely. From paying 52% under Thatcher in 1982, cuts by Tory and Labour governments have almost halved the costs for company owners.

That's if they pay it - many big business people can pay but won't pay.

A survey for civil service and tax workers' union PCS suggests that 'legal', though dubious, tax avoidance costs the tax authorities 25 billion a year.

Unpaid tax bills cost another 28 billion while illegal tax evasion - illegal non-declaration of income or fraudulent claims for tax relief - could lose 70 billion annually! The total loss is at least 15% of all that should be paid.

Big business, particularly firms involved in international speculation (who precipitated the current financial crisis) gain most from these scams.

Small businesses unable to afford an army of accountants may lose out. Workers will certainly pay more tax, with indirect taxes likely to increase, but capitalists will be immune from paying for their system's failures.

Britain's 100 richest individuals have a combined personal wealth of over 250 billion. Just over a third of this, 90 billion, could end Britain's so-called 'structural deficit'. The best way to reduce the public debt is through socialist measures such as bringing the top companies into democratic public ownership.

Then, instead of companies creaming off fat profits and paying little tax, the surpluses generated by these companies can be used entirely for developing the public sector, including workers' jobs and services.

Roger Shrives

In this issue

Millionaire ministers butcher public services

Con-Dem cuts - 'only the beginning'


National Shop Stewards Network

National Shop Stewards Network conference: Time to organise against con/dem attacks

Support BA Cabin Crew


Socialist Party news and analysis

Royal Mail not for sale

NHS cuts: The Con-Dem sting in the tail

Fast News

Sri Lanka: One year after the war

Socialist Party national committee discusses building the fightback


Socialist Party workplace news

PCS conference: Preparing for action

Local government: Where's our pay award for 2010?

Fighting university cuts

Workplace news in brief


Youth

Young people: organise to fight the cuts

Socialist Party National Youth meeting

School student socialist

'Sussex Six' result

Students must pay, say the rich

Pamphlet: Our Education Under Attack: why a mass campaign is needed


Socialist Party feature

London 2012 Olympics: A big business spectacle


International socialist news and analysis

Greece: 2,500 hear Socialist MEP Joe Higgins declare week of action

Romania: Mass protests against EU/IMF deal

Puerto Rico: Students and workers fight austerity cuts


Education

Education under attack: Con-Dem government prepares for battle

Unions must defend public services

Tory government says rich must pay less


Comment

Diane Abbott and the Labour Party leadership battle


 

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