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From The Socialist newspaper, 27 April 2016

Them & Us

Image by Suzanne Beishon

Image by Suzanne Beishon   (Click to enlarge)

The Sunday Times published its annual Rich List on 24 April.

137.8 billion

Total net worth of Britain's wealthiest 1,000 residents - the top 0.002%.

56.9 billion

Total net wealth of Britain's poorest 12.6 million residents - the bottom 20%. (2010 to 2012, Office for National Statistics)


103 million

Minimum you need to be admitted to the 2016 Rich List.

1.325 million

Gross lifetime earnings of a worker on the average UK salary of 26,500 over a 50-year career. It would take 77 lifetimes for a worker on average pay to earn the equivalent needed for Rich List entry. Of course, you'd have lost most of it in rent and necessities to people already on the Rich List anyway.


2

Property billionaire brothers David and Simon Reuben, top of the 2016 Rich List. They also have investments in tech, metal and banking. The pair owns Millbank Tower, Oxford Airport, shops on London's ultra-posh Sloane Street, and more. Net worth: 13.1 billion.

5 million

Homelessness charity Shelter's estimate of the numbers caught in the UK's 'rent trap' in 2014. These renters - 66% - permanently subsidise private landlords, never able to afford a deposit on their own homes.


9.78 billion

Ernesto Bertarello's net worth, with wife Kirsty. Ernesto mainly races yachts these days. But he earned his money the hard way: by cleverly and industriously inheriting a pharmaceutical firm. When that sold, he took home a well-deserved $8.6 billion.

8.9 billion

Total net cost of ingredients in NHS prescriptions in 2014 (Health and Social Care Information Centre). Private drugs companies, like Ernesto's former plaything Serono, demand obscene mark-ups. 'Dasatinib', for example, is a leukaemia treatment. Its manufacturer, Bristol-Myers Squibb, sells it to the NHS at 100 times what it costs to make.


Spare a thought

Steel magnate Lakshi Mittal has suffered, now only worth 7.12 billion after his stake in steel crashed due to overcapacity in China. Oil barons and retail bosses have also lost out. The Socialist will be dropping round the UK's 1.68 million unemployed workers to see if they can spare a quid.

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In The Socialist 27 April 2016:


Socialist Party news and analysis

Historic all-out junior doctors' strike action

Tata steel crisis: 100% nationalisation now!

Hillsborough inquest victory: cops unlawfully killed 96

Nationalise BHS to save 11,000 jobs

Rich List betrays lies of austerity

Queen reaches 90: abolish the monarchy

Most diesels emit illegal levels of poison

Them & Us

Top tweets: TUSC


What we think

Defeats and u-turns show Tories are weak


EU referendum

Trade unions: myths of EU 'Remain' campaign


Elections 2016

An anti-austerity alternative on the ballot paper

Welsh Assembly elections: A working class voice to say 'save our steel!'

Scottish elections: strong mood for anti-cuts strategy continues

London elections: fight for an anti-austerity GLA

Warrington: Socialist councillor fighting cuts and hitting doorsteps

Why I'm standing: TUSC can make a real difference

Southampton Labour council faces crisis as cuts hit city

Anti-cuts stand wins support from students in Leeds

Countering the growth of Ukip in south Wales


Workplace news and analysis

Junior doctors withdraw all labour to step up pressure

Trade Union Bill concessions made - now fight to scrap the lot!

Housing: Catalyst needs converting

Workplace news in brief


Socialist Party reports and campaigns

Butterfields: campaign to stay getting results

Women's Lives Matter


International socialist news and analysis

USA: the un-Democratic primary

Poland: anger at abortion ban plan


May Day greetings 2016: click here


 

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