Them & Us

62 people own as much as half of humanity

Yes, you read that right. 62 billionaires now own as much as the poorest 50% of all humanity - 3.6 billion people.

Poverty charity Oxfam's latest study, 'An economy for the 1%', finds the wealth of this poorest half has fallen 41% in five years. That's a loss of $1 trillion dollars since 2010.

These 62 billionaires - the 0.000000008% - could all fit on one coach. The huge portion of human creation they control might need a few trailers, however.

Take the wealth off the super-rich. The Socialist fights for a society for the billions, not the billionaires.

Extortionate housing...

David Cameron is suddenly concerned about the housing crisis his government has created. His solution is developments like south London's 'Wimbledon View'.

Starting at £685,000, you need a household income of £67,000 a year to buy a two-bedroom shared-ownership flat.

So that will exclude even two junior doctors if Hunt has his way. And this scheme is built on former NHS land, which could have provided affordable housing for all health workers.

'Daisy', London housing worker

...housing extortioner?

Meanwhile, the same David Cameron has possibly earned a cool half a million in private rent since becoming prime minister.

The Daily Mirror reports he rents out his fancy Notting Hill home to private tenants. If he charges the same as a similar nearby property, he'll have raked in over £508,000 between May 2010 and today.

This is the same David Cameron who said he worries his children won't be able to buy a house. The Socialist can only assume he meant a second house, to rent out to those stupid enough not to have been born into a family of landlords.

What We Saw

#SportsDirectShame

Newcastle United fans unfurled a huge banner in protest at their club's exploitative owner on 12 January.

Activists with the National Shop Stewards Network and general union Unite targeted notorious zero-hours tyrant Mike Ashley. His Sports Direct retail firm forces workhouse-like conditions on its poverty-pay staff.

The banner appeared just before half time, and the match with Man United resulted in a 3-3 draw.

The Socialist says: scrap zero-hour contracts! Full-time hours for all who want them - with flexibility on workers' terms, not the bosses'. For a £10 an hour minimum wage now with no exceptions.

Donate to the Socialist Party

Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.