Bank warns bosses
The head of the Bank of England says “globalisation is associated with low wages, insecure employment” and “staggering wealth inequalities.”
Mark Carney made the warning in a speech at Liverpool John Moores University. Carney is highly qualified to comment, as the recipient of an £879,000 annual pay package. He also travels the world in luxury on public money.
Meanwhile, six million workers earn less than a living wage, and seven million are in precarious employment.
Carney went on to warn that “turning our backs on open markets would be a tragedy, but it is a possibility.” His solution? Well, it includes making multinational corporations “pay tax somewhere.”
How about nationalising them – so society, instead of the super-rich, can control what their workers produce? No?
Well, never mind. The Socialist has no doubt corporations have every intention of allowing the politicians they fund to tax them.
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Tesco toffs
A Tesco in Edinburgh allegedly makes state school students queue while private students can walk straight in.
The father of a state school student accused the Bruntsfield branch of Tesco Metro of the weird discriminatory practice.
Boroughmuir High School students apparently have to wait outside. Meanwhile, the red-blazered students of £11,577-a-year George Watson’s College can jump the queue.
The Socialist wonders if local managers are trying to turn their store into some heavy-handed allegory for capitalist society in general. Either way, they should just stop.