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From The Socialist newspaper, 20 April 2016

Treasury boss attacks call to nationalise Tata

Save our Steel lobby of parliament, photo Scott Jones

Save our Steel lobby of parliament, photo Scott Jones   (Click to enlarge)

The Treasury's former chief civil servant has attacked the call to nationalise Tata Steel.

Sir Nick Macpherson warned the state could make a loss on its 19 billion stake in the part-nationalised Royal Bank of Scotland when it sells it off.

The Socialist sees this as an argument not to sell, but rather take the bank's profits into public hands as well. Macpherson sees it as an argument against nationalising Tata to save 15,000 jobs.

The Financial Times calls him the "high priest of austerity". It's easy for the pro-EU Eton and Oxford graduate to preach pain for workers. His own secure tenure was worth a minimum of 185,000 a year.

Meanwhile, climate consultancy CE Delft reports that Tata has taken over 700 million in European Union carbon subsidies. It was the top UK recipient of handouts under the 'emissions trading scheme'.

The EU is happy to throw money at private owners to boost profits in lieu of action on climate change. But when the bosses threaten job cuts and asset stripping, EU rules oppose nationalisation.

The Socialist says: open the books! What happened to that 700 million? Defy the EU's anti-worker rules: nationalise Tata. Vote Leave to break up the EU's free-market treaties and institutions.

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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.

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In The Socialist 20 April 2016:


What we think

Strike together to kick out the Tories!


Socialist Party news and analysis

Clock ticking on UK steel: it's time to act!

Cops bid to hide spy trial

Treasury boss attacks call to nationalise Tata

Free runs threatened

Them & Us


Socialist Party reports and campaigns

Pent Valley students strike against closure

2,000 lay siege to A&E cutbacks consultation

Day of action against poverty pay: 10 now!


Elections 2016

Why I'm standing

Increasing anger at cuts boosts Grimsby campaign

TUSC objects to Liverpool political censorship


EU referendum

Jeremy Corbyn's EU u-turn

EU: bosses pick 'safe' reactionary out voice


Socialist Party feature

The socialist case for nationalisation


Socialist history

Ireland: 100 years since the 1916 Easter rising

Chernobyl nuclear disaster - 30 years on


Workplace news and analysis

Huge profits for BT and Royal Mail, cuts and attacks for workers

Stop supermarket bosses making us pay for their mistakes

PCS national elections: vote for Democracy Alliance

Review: 'On the Track' by Bill Mullins

Workplace news in brief


International socialist news and analysis

International news in brief


 

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