Link to this page: https://www.socialistparty.org.uk/issue/622/9451
From The Socialist newspaper, 27 April 2010
Filthy rich get richer
THE ANNUAL Sunday Times rich list was published on 25 April. It shows that at a time when we are all being told to prepare for 'tough times ahead' and massive cuts in services, public spending and welfare benefits the richest people in Britain have seen a record boom in their wealth over the past year. Their fortunes have soared by 30%.
Craig Johnston, RMT national executive member - and Trade Unionist and Socialist Candidate (TUSC) in Yewdale Ward, Carlisle
According to the Sunday Times: "It is the largest rise in wealth since the list was first published 21 years ago. Much of the increase is a result of the rebound in stock markets and property values after the Labour government injected hundreds of billions of pounds into the banks and the wider economy to stave off collapse."
The report's figures are astonishing. They reveal that the 1,000 richest people in this country increased their wealth by £77 billion last year, bringing their total wealth to £335.5 billion.
Just 1,000 people have amassed wealth equal to more than one-third of the national debt!
When the rest of us are told to 'tighten our belts' the number of billionaires has risen from 43 to 53, with nine seeing their wealth rise by £1 billion or more during the past 12 months.
Philip Beresford, compiler of the list, said: "The rich have come through the recession with flying colours. The stock market is up, the hedge funds are coining it. The rich are doing very nicely. The rest of the country is going to have to face public spending cuts, but it has little effect on the rich because they don't consume public services".
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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.
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In The Socialist 27 April 2010:
Vote for a socialist alternative
Socialist Party Marxist analysis
Heading for a coalition government?
Socialist Party news and analysis
Fund a political alternative to the establishment parties
Filthy rich get richer
World's most unequal city
Socialist Party election campaign
A 'beacon of hope' in Gateshead
STUSC candidates speak
Press try to gag socialists in Walthamstow campaign
Debt balloons go up in Brighton Kemptown
Cleaning up in Cardiff
Extremes of rich and poor in Swansea
Campaign hots up in Lewisham
"That makes real sense to me"
TUSC: 'Hear your candidate' meetings
Socialist Party feature
Jobs not cuts
Socialist Party election analysis
Can the Greens help provide a left alternative?
Socialist Party feature
Housing in crisis: Bankers rob people
Socialist Party workplace news
Nottingham city council: Shocking new cuts!
Unison health conference
Glasgow CSG workers fight pay freeze
Three years of wage cuts for council workers
Strike at Northumberland College
Workplace news in brief
The Socialist 27 April 2010 |
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