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Treasury boss attacks call to nationalise Tata
Save our Steel lobby of parliament, photo Scott Jones (Click to enlarge)
The Treasury's former chief civil servant has attacked the call to nationalise Tata Steel.
Sir Nick Macpherson warned the state could make a loss on its £19 billion stake in the part-nationalised Royal Bank of Scotland when it sells it off.
The Socialist sees this as an argument not to sell, but rather take the bank's profits into public hands as well. Macpherson sees it as an argument against nationalising Tata to save 15,000 jobs.
The Financial Times calls him the "high priest of austerity". It's easy for the pro-EU Eton and Oxford graduate to preach pain for workers. His own secure tenure was worth a minimum of £185,000 a year.
Meanwhile, climate consultancy CE Delft reports that Tata has taken over £700 million in European Union carbon subsidies. It was the top UK recipient of handouts under the 'emissions trading scheme'.
The EU is happy to throw money at private owners to boost profits in lieu of action on climate change. But when the bosses threaten job cuts and asset stripping, EU rules oppose nationalisation.
The Socialist says: open the books! What happened to that £700 million? Defy the EU's anti-worker rules: nationalise Tata. Vote Leave to break up the EU's free-market treaties and institutions.
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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.
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.
- 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.
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