Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://secure.socialistparty.org.uk/issue/995/27361

From The Socialist newspaper, 16 May 2018

Sunday Times Rich List 2018

Richest worth 724bn... as 100,000 kids fall into poverty

It's austerity for us and prosperity for them, photo torbakhopper/CC

It's austerity for us and prosperity for them, photo torbakhopper/CC   (Click to enlarge)

Andrew Carss, Salford Socialist Party

724 billion. This is the combined wealth of Britain's 1,000 richest. The Sunday Times has produced its annual Rich List, and the working class can see who is dipping their hand in our pockets.

The top 1,000 have increased their worth by 10% in a year. In the same time, another 100,000 children fell into poverty - making 4.1 million, about 30% of all kids - according to the Department for Work and Pensions.

The top spot this year has been claimed by spiv-in-chief union-buster Jim Ratcliffe, net worth 21 billion. Back in 2013, the Ineos chair and majority owner used the livelihoods of thousands of workers as leverage to extract 134 million from the taxpayer for his oil refinery at Grangemouth.

In real terms, average wages are still lower than they were in 2007. The Tories have offered NHS workers a miserly below-inflation pay 'increase'. Wages are recovering slower than even after the Great Depression, according to the Trade Union Congress.

Meanwhile, at the top of the pile, capital gains tax is 28%, and corporate tax just 20% - both lower than the higher rates of income tax! For all their spiel about "making work pay," in Tory and Blairite Britain work is disincentivised for the super-rich.

They ferret away their ill-gotten gains in tax havens, where capital languishes until a profitable investment opportunity opens up for it.

Under Jeremy Corbyn's anti-austerity leadership, donations to Labour from the very wealthy have almost disappeared. Meanwhile, of the top 50 political donors in this year's Rich List, only one was not a Tory donor.

Capitalist politicians tell us that if we stand up to the billionaire 'Masters of the Universe' and demand they pay more, they will simply leave the country, taking thousands of jobs with them. But working people create all the wealth in society - the bosses just take it.

The Times has lauded the "triumph" of the "self-made" billionaires this year. "94% of most wealthy made own fortunes" in the top 1,000, it claims.

Really? Did Jim Ratcliffe make petrochemical products worth 2.3 billion profit last year himself? Or was that, in fact, the workers whose terms and conditions he battered in 2013 while relaxing on a 130 million yacht?

The answer to billionaire thieves threatening to leave is to nationalise their business empires under democratic workers' control and management. Britain is an enormously wealthy country. There is enough wealth to guarantee every person a decent standard of living - but not while supporting a billionaire class.

The Socialist Party fights for the nationalisation of the banks and top corporations as part of a democratic, socialist plan of production - and heavy, progressive taxes on the stolen fortunes of the super-rich.

Donate to the Socialist Party

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.
We therefore urgently appeal to all our viewers to donate to our special coronavirus appeal.

Please donate here.

All payments are made through a secure server.

My donation

 

Your message: 

 


In The Socialist 16 May 2018:


Middle East

Middle East in crisis

Exclusive interview with Gazan activist: "The more they kill us, the more the anger increases"


France '68

May 1968: Revolutionary explosion as two thirds of workforce join strike


PCS

PCS conference 2018: building on the union's militant record

PCS elections - Left sweeps the board


Socialist Party news and analysis

Tories' continuing EU quagmire is Corbyn's opportunity

Royal wedding opulence... during longest pay squeeze in 200 years

Richest worth 724bn... as 100,000 kids fall into poverty


Socialist Party workplace news

Strike at Tesco Dagenham for better pay

Belgium Lidl strike victory

Lively Hull demo against college cuts

Harrogate College strike against cuts

Leeds Acas conciliators walkout

Workplace news in brief


Socialist Party reports and campaigns

Thousands march on TUC demo

'When we fight, we can win' - campaign halts hospital closure

Chesterfield May Day: march turnout great

Save Our Square takes fight to developers

Save Southall Town Hall legal hearing success


Ronan Point

Ronan Point disaster 50 years on


International socialist news and analysis

Spain: Student general strike against sexist, capitalist 'justice' system

Sweden: Socialist elected leader of 77,000-strong tenants' union


Opinion

The Socialist Inbox


 

Home   |   The Socialist 16 May 2018   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Super-rich:

triangle1,600 less benefits if your job goes - while super-rich splash cash

triangleTake the wealth off the super-rich

triangleThem & Us

triangleThem & Us

triangle'Fat Cat Friday' shows where all the money's gone

Rich:

triangleRich get handouts - workers get pay cuts

triangleBail out the real wealth creators, not the rich

triangleNationalise to save jobs threatened by Covid-19 and downturn

triangleImmigration: For a system that meets the needs of the majority, not a rich elite

Poverty:

trianglePoverty rises again - especially for BAME workers

triangleA timely read about a pandemic that overwhelms society

triangleOver 30% of children living in poverty

Tax:

triangle30 years since the huge anti-poll tax demo... And how mass non-payment of the tax was built

triangleNewham campaign set up against council cuts and tax hikes

Workers:

triangleSocialist Party Wales: Starmer turns Labour right - Time for a new workers' party

Wealth:

triangleUniversal Basic Income: not a solution to insecurity and poverty under capitalism

Britain:

triangleA new movement for system change

Austerity:

triangleBoris's new big deal

News and socialist analysis

News and socialist analysis

8/7/20

Socialism

Fight for every job. Fight for socialism

8/7/20

Care workers

Johnson blames care workers for deaths

8/7/20

Leicester

End the scandal of sweatshop labour

8/7/20

Young people

No choice but to fight the system

8/7/20

Northern Ireland

Covid pandemic and Northern Ireland - workers must resist the bosses' offensive

8/7/20

Green

3bn green pledge: not enough for climate or jobs

8/7/20

Care Homes

No going back: Nationalise social care!

8/7/20

NHS

Tory NHS betrayal

8/7/20

Super-rich

1,600 less benefits if your job goes - while super-rich splash cash

8/7/20

Tories

Testing: Tories' 5bn gift to private sector

8/7/20

BAME

Poverty rises again - especially for BAME workers

8/7/20

Workers

Them and us

1/7/20

Coronavirus

Tory full return to school plans gamble with lives

1/7/20

Trans rights

Yes to self-identity

1/7/20

Waste

Plastic waste ignored

triangleMore News and socialist analysis 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: 079 8202 1969

East Mids: 077 3797 8057

London: 07748 534 891

North East: 078 4114 4890

North West 079 5437 6096

South West: 077 5979 6478

Southern: 078 3368 1910

Wales: 079 3539 1947

West Mids: 024 7655 5620

Yorkshire: 077 0671 0041

ABOUT US

ARCHIVE

Alphabetical listing


July 2020

June 2020

May 2020

April 2020

March 2020

February 2020

January 2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999