Link to this page: https://www.socialistparty.org.uk/issue/913/23428
From The Socialist newspaper, 24 August 2016
Them & Us
Them and us fishes, photo Suzanne Beishon (Click to enlarge)
Duke of Westminster
How do you get to be the fifth richest person in Britain? Hard work? Big ideas? Low cunning?
No. The answer is: inherit. The recent death of Gerald Cavendish Grosvenor, 6th Duke of Westminster, left his son Hugh with an estimated net worth of £9.35 billion (Sunday Times Rich List 2016).
That's more than the gross domestic product of Albania (£9.34 billion, IMF 2016 estimate). His grace's considerable estate dates back to 1677, and includes 300 acres of millionaires' stomping grounds in west London.
Still, at least austerity Britain's coffers can expect a hefty inheritance tax windfall. About £4 billion if estimates of the 7th duke's wealth are accurate.
But no! The Grosvenor family owns its extensive lands through a trust rather than individually. Trustees may die, but trusts cannot - so no pesky inheritance tax.
Britain's private landlords collectively received £9.3 billion in tenants' housing benefit last year.
This figure has nearly doubled in a decade, says a report by social landlord umbrella the National Housing Federation. If all those private renters on housing benefit were in affordable homes, the bill would fall by £1.5 billion.
Nearly half of those claiming housing benefit are in work. This is nothing more than free money for big landlords and mortgage lenders, and a subsidy to poverty-pay employers.
The Socialist says: nationalise the land and take over empty properties, paying compensation only on the basis of proven need. No more free rides for super-rich landowners and property speculators. For rent caps and a mass programme of quality council house building.
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In The Socialist 24 August 2016:
Kick out the Blairites
#KeepCorbyn: Answer right's attacks with firm socialist programme
Corbyn union nominations round-up and view from the workplace
#KeepCorbyn: huge support at rallies and among Labour rank and file
Socialist Party news and analysis
Black footballer's taser death: stop police racism now
Pay still below pre-crisis levels
Train fares to rise again - nationalise railways now!
£500m on civil service redundancies in two years
Them & Us
International socialist news and analysis
Trump in trouble - political polarisation deepens
International news in brief
Socialist readers' comments
Readers respond to Trotskyist red scare smears by capitalist media
Would you call G4S for help over discrimination?
The Socialist inbox
Workplace news and analysis
Deliveroo strike action forces bosses to back down
Junior doctors set for further strike action
A day in the life of a call centre worker
Workplace news in brief
Save our NHS
Save our NHS!
The threat of private health insurance
Organise against secretive NHS cuts plans
Socialist Party reports and campaigns
Greenwich council tenants: We won't pay! We won't move!
Local estate agents back Butterfields tenants
Nottinghamshire Pride makes history
Immingham residents' housing battle
The Socialist 24 August 2016 |
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