The Socialist

The Socialist 3 January 2018

Widening wealth gap, increase in poverty¬Ömake the fat cats pay

The Socialist issue 976

2018: more upheavals loom


Tory prescription for mental illness: stress and bureaucracy

The Socialist inbox


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

Mobilise against rip-off executive pay

Rail: fares up, bosses' pay up - delays and cancellations up

Thousands live in tents and sheds - seize empty homes

Heart unit rescued by campaigning saves baby with pioneering surgery

NHS in winter crisis as Branson creams off £1bn


Blairite council 'all ears' to rich property developers

Stop the rotten redevelopment plan, demand residents

Housing victory for Sussex students

Leeds: temporary reprieve for playing fields

Bradford protest against children's service cuts

Trade Unionist and Socialist Coalition conference


Equal sick pay rights for staff at Charlton Park Academy

Newham: school strike solid against academy

Fire service victory

Leeds college pay protests


Catalan elections: PP humiliated

 
 
 
 
 

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Widening wealth gap, increase in poverty... Make the fat cats pay

We are the 99% - Take the wealth off the 1% Socialist Party placard, photo Paul Mattsson

We are the 99% - Take the wealth off the 1% Socialist Party placard, photo Paul Mattsson   (Click to enlarge)

Helen Pattison, London Socialist Party

Don't put the party poppers away just yet. There's one last thing to celebrate. Fat Cat Thursday! Well, it's not exactly a celebration if you're working class. In fact its only the super-rich who actually enjoy the event.

Fat Cat Wednesday marks the point on Thursday 4 January when chief executives of FTSE 100, the largest businesses on the London Stock Exchange, will have already 'earnt' the average salary of working people for the whole year. According to research by the High Pay Centre it takes them less than a week to pocket £28,000 median salary in the UK.

It's a stark reminder of the huge void that exists between the living standards of working class people and the tops of society.

Fat Cat Thursday has become an annual event when the inequality of capitalism is really laid bare. How can Theresa May say with a straight face that there is no "magic money tree" for hard-working NHS staff reliant on food banks when in hours these executives have already pocketed thousands?

Inequality

This huge inequality and the driving down of living standards since the 2008 economic crisis is also seriously affecting people's health. 4.6 million people are living in persistent poverty which is contributing to a rise in poverty-related illnesses such as rickets. Asthma is also on the rise, in part due to the number of children living in temporary and poor quality accommodation.

Parents are struggling, with one in five skipping a meal to feed their children over the summer holidays. The right-wing rags have said that Jeremy Corbyn and anti-austerity campaigners want to take us back in time, when in reality its capitalism that's taking us back to the social horrors of the 19th century.

Rather than allowing Fat Cat Thursday to get us down, we should be used as inspiration to fight for a real alternative to capitalism. The wealth is clearly there - it's just hoarded by the super-rich. If that wealth was taken from the 1% it could be democratically planned and used to ensure a decent standard of living for all.


In this issue


New Year statement

2018: more upheavals loom


Socialist Party comments and reviews

Tory prescription for mental illness: stress and bureaucracy

The Socialist inbox


Socialist Party news and analysis

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

Mobilise against rip-off executive pay

Rail: fares up, bosses' pay up - delays and cancellations up

Thousands live in tents and sheds - seize empty homes

Heart unit rescued by campaigning saves baby with pioneering surgery

NHS in winter crisis as Branson creams off £1bn


Socialist Party reports and campaigns

Blairite council 'all ears' to rich property developers

Stop the rotten redevelopment plan, demand residents

Housing victory for Sussex students

Leeds: temporary reprieve for playing fields

Bradford protest against children's service cuts

Trade Unionist and Socialist Coalition conference


Socialist Party workplace news

Equal sick pay rights for staff at Charlton Park Academy

Newham: school strike solid against academy

Fire service victory

Leeds college pay protests


International socialist news and analysis

Catalan elections: PP humiliated


 

Home   |   The Socialist 3 January 2018   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook