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From The Socialist newspaper, 19 October 2016

Them & Us

Them and us fishes, photo Suzanne Beishon

Them and us fishes, photo Suzanne Beishon   (Click to enlarge)

Chocs away

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.


Water rip-off!

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

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TUSC discusses new tasks after Corbyn victory


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Socialist history

Aberfan: a disaster that should never have happened

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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


 

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