Is there an alternative to cuts and a “double-dip” recession?
Yes, but a conspiracy of silence between top politicians, big business and most of the mass media has tried to conceal it.
Not a day passes when some British bank, oil corporation, retail chain, telecoms company, energy utility or arms dealer is not announcing enormous profits.
There’s no belt-tightening for the corporate fat cats. Their salaries, fees, bonuses and dividends are going through the roof.
The national statistics report Wealth In Great Britain shows that the richest tenth of the population own almost half (44 per cent) of all personal wealth. Their fortune is valued at £4,000bn – not counting the huge amounts hidden in offshore tax havens.
Britain’s budget deficit this year was expected to be £163bn.
A modest 20 per cent windfall tax on company super-profits would raise at least £16bn – enough to cover the cuts already announced.
An even smaller levy on the super-rich, say of 5 per cent, would wipe out the deficit altogether and leave £50bn to invest in better public services.
Cuts could still be made in government spending by ending the use of overpriced consultants, reducing military spending to average European levels and nationalising the railways instead of subsidising private operators. Dominic MacAskill, Morning Star.
For too long we’ve allowed ourselves to brain washed by the propaganda that Murdoch and his ilk have peddled us in the media and press – it is time we stopped and made those responsible pay.