The Socialist 6 July 2016

Stand firm against the Blairite coup

Stand firm and organise against the Blairite coup

Demo says: Keep Corbyn, sack the Blairites

Keep Corbyn demonstrations in Leeds

Meeting discusses how to get rid of 'blue or red' Tories

Stevenage supports Corbyn

Join the Socialist Party to fight for socialist change

Why I joined: I want a future for my generation

Why I joined: My real education started when I joined

NSSN conference: Implacable opposition to austerity

After Chilcot: put Blair in the dock

Osborne plans to cut corporation tax again

Rough sleeper death sparks calls for action

Them & Us

Junior doctors renew battle over contracts

Teachers' strike: Angry and defiant

Unite policy conference 2016: Union could place itself at the centre of anti-austerity fight

RMT conference takes fighting position on urgent political questions

Bus drivers' strikes continue for fair pay

Manchester firefighters fight cuts

Hundreds protest to demand votes at 16

Defiant Butterfields tenants visit landlord's house

Southampton Rallies to counter fascist threat

Turkey: Deadly terrorist attack at Istanbul airport

Mexico: Teachers continue strike despite extreme repression

PO Box 1398, Enfield EN1 9GT

020 8988 8777

[email protected]

Link to this page: https://www.socialistparty.org.uk/issue/909/23191

Search the site	Printable version

Home | The Socialist 6 July 2016 | Join the Socialist Party

Subscribe | Donate | Audio | PDF | ebook

Osborne plans to cut corporation tax again

Tory chancellor George Osborne, Osborne photo by FCO (Creative Commons), composite by James Ivens (Click to enlarge)

Zoë Brunswick

George Osborne announced on 4 July that he would cut corporation tax by a quarter, bringing it from 20% down to just 15%. This new rate will be among the lowest in Europe, pushing forward Osborne's plan to make the UK a global tax haven.

This shocking move contradicts Osborne's pre-Brexit threats of tax hikes. Once again, it shows the Tories' true objectives: to hand money to the rich at the expense of the poor.

Tax cuts for big businesses will result in further cuts in public spending, hitting the poorest hardest. Meanwhile, CEOs will award themselves fatter pay packets from their increased profits. The trade union leaders must respond to any attempt by the government to make workers pay for the bosses' crisis with coordinated strikes.

Tax breaks for the rich and big businesses are exactly the type of elite handout that both Leavers and many Remainers voted against in the EU referendum last month. Brexit was an enormous protest against the handing of money and power over to big business, and yet the Tories continue to do it.

Avoidance

Some of the largest corporations avoid paying most or all of their taxes anyway. The Socialist Party calls for the nationalisation of the top 150 corporations, and all corporate tax avoiders, under democratic working class control. Then workers could run the economy for the benefit of all, not the 1%.

The Brexit vote has left the Tories in chaos. Cuts to corporation tax will further alienate the public that voted decisively against big business. We must fight for a general election now, to oust this weak and divided government.

In this issue

#keepcorbyn

Stand firm and organise against the Blairite coup