Neil Adams, Reading Socialist Party
The daily injustices for working-class people under the Tory government become ever-more clear. Kwasi Kwarteng, the chancellor, has announced he is considering bringing an end to the cap on bankers’ bonuses, whereby bonuses are limited to twice their salaries.
If this goes ahead, it will only further fuel the anger of workers struggling to make ends meet. Most of us would be quite happy with a bonus that is twice our salary!
As ever, the excuse given is that these financial ‘masterminds’ need to be massively remunerated for fear of losing their talents to competitors. But the reality is that they play fast and loose with other people’s money, safe in the knowledge that they will be bailed out by us regardless, like they were following the 2007-08 crash to the tune of £500 billion. And we never seem to benefit from the so-called trickle-down effect! To stop the rich getting endlessly richer at our expense, we need a party that is prepared to fight for socialist policies, including nationalisation of the banks and finance houses under democratic workers’ control. This way the banks could be run in our interests and used to finance socially useful measures.
