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From The Socialist newspaper, 12 October 2016

Appeal: Don't let the banks wreck our finances!

Naomi Byron, Socialist Party finance department
Finance is essential to producing campaign resources, photo by Socialist Party

Finance is essential to producing campaign resources, photo by Socialist Party   (Click to enlarge)

HSBC shut down the main Yorkshire Socialist Party membership subs account on 12 September without notice and without telling any of the signatories! We only found out the account was shut when members contacted us asking why their subs had been paid back into their account!

HSBC is a byword even among banks for dodgy dealings. From the financial crash of 2008 where they were fined $470 million by US regulators for "abusive mortgage practices" to allowing millions of dollars of suspect transactions through their accounts in the Fifa bribery scandal.

They only escaped criminal charges in the US in 2012 for allowing terrorists and drug dealers to launder millions of dollars after George Osborne and the UK banking regulator pleaded that this could trigger another "global financial disaster".

Like other big banks HSBC has a campaign to shut down smaller accounts that aren't making them enough money - by any means necessary it appears. At the moment they are still refusing to reopen the account.

We immediately started collecting the subs that had been returned, and are setting up a new account for people to pay their money into. But we are appealing to every member to donate to help us make up any losses caused by HSBC's actions.

In particular if members can increase their regular membership subs, we need every penny of regular income to help us expand our resources and respond to the twists and turns of this exciting new political period.

The re-election of Jeremy Corbyn is a historic opportunity to reclaim the Labour Party as a mass anti-austerity party for the 99%.

The Socialist Party's ability to organise and win mass support for our ideas, our experience of building mass movements and taking on the right wing within Labour and our fighting socialist programme are essential to help reclaim Labour.

We are proud to have no rich backers - all the money to fund our campaigning comes from our members and supporters. If you can't increase your regular donation at the moment, please consider making a one-off donation to our fighting fund.

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 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.
  • 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.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our Fighting Fund.

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In The Socialist 12 October 2016:

Housing crisis

Butterfields victory: housing crisis can be beaten

Tories’ £5bn for housing not enough

What we think

Tories whip up division over Brexit...fight for a socialist, internationalist exit

Where next for the BMA junior doctors' dispute

Socialist Party news and analysis

Say no to fracking!

Support the Rotherham 12

Suicidal phone calls: fight to reverse tax credit cuts

Black History Month

Malcolm X: hero of black liberation

Socialist Party workplace news

Union library campaign strikes blow against Bromley Tories

Bin workers' strike - "about more than just pay"

AMEY = A Massive Empty Yard

Ritzy strikers walk-out and rally

Workplace news in brief

International socialist news and analysis

Poland: Mass movement stops total ban on abortion

South Africa: The battle for free education

Shimon Peres - a wolf in sheep's clothing

Socialist Party reports and campaigns

Lambeth working class demo against cuts and gentrification

Appeal: Don't let the banks wreck our finances!

Momentum should show Blairites the door, not Socialist Party members!

Lobby to keep vital day centre funding

Bradford day centre campaigners meet to fight closure

Fight to save care homes in Carlisle

Cable Street 80th anniversary demo

Health and social care attacks

Attack on young people's health and social care: urgent fightback needed

The Socialist inbox

The Socialist inbox


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