Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/619/9335

From The Socialist newspaper, 7 April 2010

News in brief

Lacking reserve

'DRILL BABY, drill' was the clarion call of oil hungry Republicans during the last US presidential election. But having lost to Barack Obama these Republicans now must be driving around in their SUVs hooping and a hollering with delight after the White House announcement that the president would allow oil drilling along the Atlantic coastline of the US and in large tracts of the Arctic Ocean north of Alaska.

Obama, like his predecessor George Bush, says he wants to reduce the US's energy dependence on foreign sources. However, US oil reserves are only 2% of the world's total reserves and the Atlantic coastline accounts for only 6% of the 2%.

In reality, Obama is attempting to assuage conservative Democrats and some Republican congressmen so they back his climate bill. He has already made significant concessions on coal and nuclear power to woo Republicans.

Apart from disillusioning his environmentalist backers, Obama may find that 'appetite grows from eating' and that the Republican appetite for exploiting fossil fuels is insatiable.

Isa rip-off

IN THE run up to the end of the tax year (Easter Monday), the banks and building societies have been blitzing the TV and newspapers with glossy ads to entice customers to shovel more cash into Isas (individual savings accounts - introduced by Gordon Brown in 1998).

One-third of adults - around 15 million people - own an Isa. However, it seems that the greedy banks are taking savers for a ride. According to Consumer Focus (previously known as the National Consumer Council) Isa savers are being denied interest payments amounting to 1.5 billion-3 billion each year.

The government and the financial industry have been pushing the tax breaks available on Isas but conveniently downplaying the pitiful rate of interest paid on them. The average cash Isa pays only 0.41% interest despite inflation running at 3%+.

The biggest issuer of Isas is Lloyds banking group (42% owned by the government) that has 12 million such accounts, but its Cheltenham and Gloucester cash Isa only pays 0.05% interest.

Another ruse by banks is the placing of hidden obstacles in the way of customers trying to switch Isas, with 33% of switches taking longer than five weeks.

High flyers

AS BRITISH Airways cabin crew prepared to take strike action in defence of jobs, pay and working conditions last month, seven BA executives were awarded share options worth almost 3 million. This is despite the airline pleading poverty.

The most highly rewarded director under the scheme is Keith Williams, the chief financial officer, who was awarded share options worth 812,807, on top of his 440,000 basic salary.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 7 April 2010:

Defend jobs and services - Fight for a workers' alternative - Vote TUSC

General Election 6 May: A Socialist Challenge


Socialist Party editorial

Mobilise to defend the right to strike

London Underground workers balloting


Socialist Party election campaign

Stand up for the millions, not the millionaires!

Reject the parties of cuts and privatisation

Socialist Campaign launched in Coventry

New Labour meltdown in Stoke

Making an impact in Huddersfield

Hazel Must Go! opposes cuts to Salford NHS

Trade Unionist and Socialist Coalition


Socialist Party campaigns

Cuts bite in north west

March to defend the welfare state

Tories reveal yet more anti-gay bias

'Free schools' or free-for-all?

News in brief


Socialist Party workplace news

NUT conference again calls for action on workload

Ex-Visteon workers continue fight for pensions

Industrial news in brief


Socialist Students

Mobilise students and workers to defeat cuts and tuition fees


International socialist news and analysis

Kazakhstan: "change the politicians - or they will change you!"

Mass protests and strikes continue to shake Algeria

Tekel workers brutally attacked by police


Comment

The real lessons of the poll tax


 

Home   |   The Socialist 7 April 2010   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Obama:

triangleSolidarity not racism - Socialism not Trumpism

triangleBuild 100 days of resistance to Trump's agenda!

triangleVictory at Standing Rock: US authorities agree to re-route oil pipeline

triangleTrump victory: Failure of the Democrat establishment

triangleUSA: We need mass resistance to Trump and a new party of the 99%

US:

triangleThe Socialist inbox

triangleYour newspaper fights with you: help fund it with May Day greetings

triangleVietnam War: 50 years since the Tet Offensive

triangleVictory! Trump's UK visit cancelled by fear of protests

Oil:

triangleMovement challenges Iranian regime

triangleMovement growing against fracking giant Ineos

triangleKurdish referendum declared illegal

Banks:

triangleCapita in crisis: bring all outsourcers back in-house

triangleThem & Us

British Airways:

triangleMixed-fleet workers show strikes get results

Reports and campaigns

Reports and campaigns

21/2/18

Strike

German engineering strike puts shorter week on agenda - but could have won more

21/2/18

Cardiff

Cardiff Refugee Rights gig success

21/2/18

Nottingham

Nottingham hospital black alert

21/2/18

East Midlands

Lively discussion at East Midlands Socialist Party conference

21/2/18

West Midlands

Tremendous determination on show at West Midlands conference

21/2/18

Wales

Successful Socialist Party Wales conference sets tone for the year ahead

21/2/18

Bradford

Bradford protests against kids' service cuts

21/2/18

May Day

May Day, May Day! Celebrate solidarity!

21/2/18

Kirklees

Labour councillors push through savage cuts in Kirklees budget

21/2/18

Salford

Save Salford nurseries!

21/2/18

Caerphilly

Victory: Pontllanfraith leisure centre saved

21/2/18

Council

Northants council crisis - protesters demand an end to cuts and privatisation

21/2/18

Leicester

Leicester Uni makes Tory fee tripler David Willetts chancellor - sack Willetts!

21/2/18

UCU

Bosses divided - university pension strikes can win!

21/2/18

Mansfield

Chatsworth ward victory shows we can save our NHS

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0191 421 6230

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999