I’ve been sent a number of e-mails by people via 38 degrees asking how if I was the elected MP for Llanelli, I would have voted on the amendment to the Finance Bill to close the so-called ‘Mayfair’ loophole. This allows private equity holders to pay less tax and has been estimated to cost the UK treasury up to £700 million a year.
I am in favour of all measures aimed at more progressive taxation including closing down loopholes that benefit only the rich. However it has to be pointed out that £700 million a year would represent only the very tip of a massive iceberg.
Research commissioned by PCS union has shown that over an estimated £120 billion a year is list to the treasury through avoided, evaded and simply uncollected tax; most of it from giant corporations and super wealthy individuals.
This is wealth that could be used to fund essential services, which are being slashed and to lower the amount of tax those of us without Swiss bank accounts pay on essentials like food, clothing At the same time the Con-Dem Government has axed the jobs of civil servants responsible for collecting tax ensuring their rich friends get away with paying even less.
In order to close the tax gap we need to reverse the cuts in civil service jobs and if we are serious about closing the sort of loopholes that the super rich use with impunity, we need to take the banks and the finance houses into democratic, public ownership.
Nationalisation of the banks is official TUC policy. The Trades Unionist and Socialist Coalition are the only party committed to acting on it.
Come along to this public meeting to celebrate 50 years since the launch of Militant (now the Socialist Party) in October 1964. Since forming we have witnessed and participated in the colossal movements of the working class in some of the greatest events in history. The magnificent 1968 general strike by ten million workers in France, the 1970s revolutionary wave of the Portuguese, Spanish and Greek workers who unceremoniously dismantled the brutal dictatorships in their countries.
In the 1970s, but particularly in the 1980s, we were addressing mass audiences. Militant, in terms of numbers and influence in the labour movement, was the most successful Marxist/Trotskyist organisation in Western Europe since the time of Trotsky’s Left Opposition in the 1930s.
Leading mass movement of the working class in Liverpool between 1983-1987 as the council defeated the Tory government over spending cuts and then leading the anti-poll tax struggle which brought down Thatcher, through to participating in the Miners’ Strike, leading the Campaign Against Domestic Violence, Youth Against Racism in Europe, recreating the Jarrow March with Youth Fight for Jobs and to this day fighting to build a new mass workers party with the Trade Unionist and Socialist Coalition and fighting to for £10 an hour minimum wage campaign.
To be held at Dyfatty Community Centre, Chapel Street, Swansea, SA1 1NB, Thursday 27 November at 7:30pm. Come along and discuss our history, ideas and look to the future, all welcome.
For prior reading see: http://www.socialistparty.org.uk/issue/830/19549
Unison members in Welsh FE colleges have delivered a mandate to our union to ballot for strike action over pay. Colegau Cymru, representing the employers, has offered no cost-of-living rise this year. Unison estimates the value of our pay has fallen on average by 18% since the start of the economic crisis. We will ballot for action in the new year alongside other campus unions.
A Welsh FE worker
Residents of Milford Haven now have another reason to remember 5 November, when it was announced that the Murco oil refinery, one of the biggest employers in the town, was to close. This will lead to the loss of 400 jobs directly, plus an estimated 1,500 jobs from contractors on the site, and taking a massive £30 million out of the local economy.
The loss of this refinery is the latest in a line of closures and layoffs to hit the town situated in one of the poorest regions of northern Europe.
Unemployment in the town is skyrocketing thanks to Con-Dem cuts passed on through a Labour Assembly to a county council that is set to slash its budget by 25% in the coming financial year.
Socialists demand renationalisation of the energy sector as part of a democratically planned economy to ensure full employment.