Link to this page: https://www.socialistparty.org.uk/issue/921/23790
From The Socialist newspaper, 19 October 2016
Them & Us
Them and us fishes, photo Suzanne Beishon (Click to enlarge)
Multinational food giant Mondelez dodged nearly £36 million in UK tax last year.
The US-based corporation made pre-tax profits of £117.3 million. But interest payments and a tax-exempt sale meant it paid zero corporation tax.
Mondelez - then part of Kraft Foods - bought UK chocolate firm Cadbury in 2010. Boss Irene Rosenfeld had promised not to close the Somerdale factory near Bristol.
>She did close it. 400 workers lost their jobs.
Cadbury UK also paid no corporation tax on profits of £96.5 million. Rosenfeld 'earned' £13.1 million.
You can't control what you don't own. The Socialist says: nationalise the food giants to stop tax dodging and safeguard jobs and quality.
The richest man in Hong Kong, billionaire Li Ka-shing, has made £140 million from his stakes in UK water companies.
Southern Water started paying dividends again for the first time in five years, including £82 million for Li. This was in spite of receiving an average of twice the complaints of other water firms.
And Northumbrian Water paid CKI, Li's holding company, £58 million. Tax breaks meant it paid no corporation tax on its £131 million profits.
Water regulator Ofwat announced a restriction on water bill hikes in 2014. However, this was not enough to outpace inflation. The average annual water bill was set to break the £400 barrier in 2015.
Before the Tories privatised utilities in 1989, the average bill was £236. Public ownership under democratic worker's control and management could sort that out.
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In The Socialist 19 October 2016:
Socialist Party news and analysis
NHS at breaking Point
Teachers working 60 hours need strikes, not studies
Elderly care at crisis point
Health campaigns demonstrate together in 'one fight'
NHS cancer and dementia drugs 'unaffordable'
Them & Us
What we think
No backtracks, no compromises: we must fight for real democracy in the Labour Party
TUSC discusses new tasks after Corbyn victory
Workplace news and analysis
Sheffield bin striker slams privatised refuse bosses
Newsquest strike: Bosses realise 'contraints' of scab labour
London Underground cleaners protest pay cut
Support the 'Kinsley 3' cleaners in pay fight
International socialist news and analysis
Syria: horror deepens in Aleppo
Aberfan: a disaster that should never have happened
Suez 1956: the decline of British imperialism and rise of the colonial revolution
Black History Month
The radical life of Paul Robeson
Socialist Party reports and campaigns
Butterfields housing victory: "We showed that if you stick together and fight you can win"
Come to Socialism 2016
Can you donate to the Socialism 2016 appeal?
Cheshire and Merseyside: Huge NHS cuts and privatisation planned
Devon: Campaigning against community hospitals closures
Bristol: Millions of pounds of "horrifically unpalatable" cuts
Socialist readers' comments and reviews
Moving, funny and inspiring tribute to working class heroism
Film review: Deepwater Horizon
Review: BBC2's Poetry Night
The Socialist inbox
The Socialist 19 October 2016 |
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