Monday 16 April 2012

As cuts bite, firms stash the cash

The government's been stealing from the poor in wage freeze and, cuts in jobs and services then giving to rich individuals and corporations through tax cuts, free labour in the form of workfare and direct bail-outs. One in 10 of the UK's richest individuals pay less than 20% income tax, according to the BBC today. They've been behaving like some perverse, inverted Robin Hood.

All our pain is supposed to be justified on the grounds of incentivising (they destroy language with the same abandon they destroy working class communities) entrepreneurship and investment but it's not working!

Much of the media tries to draw positive messages from a report from financial advisors, the 'Earnest & Young Item Club', which suggests that Britain has avoided a double dip recession. But the interesting part of the report is the section that suggests that despite all the government's efforts to pump cash into the economy, growth has stalled because companies have "stashed the cash". Big private, corporations are sitting on £billions and paying out to shareholders while our public services are being slashed to the bone.

Once again this is confirmation of what the Trade Unionist and Socialist Coalition candidates are saying - cuts are unnecessary and don't work.

For further examples of how working class people are being ripped off to protect the profits of big business, and for an alternative, read TUSC councillor, Dave Nellist's article in this week's Socialist. http://www.socialistparty.org.uk/articles/14307/11-04-2012/on-3-may-use-your-vote-to-rage-against-austerity

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