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Bonuses


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From: The Socialist issue 952, 14 June 2017: Tories must go: organise to fight for Corbyn's policies

Search site for keywords: Bonuses - Food Banks - Food - Banks - Wealth - Tories - Pay - Britain - Poverty

City bosses' 40m bonuses as Number of food banks hits 2,000

The bosses' greed knows no bounds, photo Mike Mozart/Creative Commons

The bosses' greed knows no bounds, photo Mike Mozart/Creative Commons   (Click to enlarge)

Tories out! Corbyn in! Take the wealth off the 1%!

Geraint Thomas, Nottingham Socialist party

While working class people across Britain go hungry, directors of massive corporations continue to rake in obscene bonuses.

Senior bosses at investment firm Melrose Industries will split a 240 million bonus pot between them. The top four directors are getting a whopping 40 million each.

Even London financiers are worrying about how bad handouts like this look. But the warning by the Investment Association of revolts at corporate AGMs over bonuses seems to be falling on deaf ears.

Benefit delays

Meanwhile, research by the Independent Food Aid Network found that there are at least 2,024 food banks in the UK.

The Trussell Trust, running just 427 of these food banks, recorded that it had handed out 1.2 million food parcels to an estimated 550,000 people.

Low income and benefit delays were the biggest reasons for workers being forced into the humiliation of going to food banks.

These figures only scratch the surface of the problem. Several co-workers at my last job regularly made the choice of heating or eating over the winter thanks to low hours and pay. Even nurses are affected, hit by the pay cap and rising living costs - hardly the "complex reasons" Theresa May claimed.

The Melrose bosses' 240 million will be paying for expensive cars and mansions and filling up tax-dodging banks. That money could easily be used by a Corbyn-led socialist government to create thousands of decently paid jobs.

The billions more paid as executive bonuses and shareholder profits across the top companies could eliminate hunger and poverty, rather than propping up the lifestyles of the have-yachts.

Take the wealth off the 1%. Mobilise mass demonstrations for a Corbyn-led government. Fight for socialism.

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Coronavirus crisis - Finance appeal

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.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • Our 'fighting coronavirus workers' charter', outlines a programme to combat the virus and protect workers' living conditions.
  • When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
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