Tony Benn on Overseas Investment at the Expense of Britain’s Workers

A few days ago I posted up a piece about Shaw’s critique of British imperialism. As I said in the earlier piece, Shaw wasn’t against imperialism in itself, if it had been genuinely for the benefit of the conquered peoples. But it wasn’t. It was really to exploit them, as a cheap workforce unprotected by the Factory Acts in Britain which protected domestic workers. The result was the exploitation of non-Whites abroad, while British manufacturers were ruined by the import of the cheap goods they produced, and British workers made unemployed.

This situation still remains, thanks to globalisation and the rise of the multinationals even though the British empire is no more. Tony Benn was a staunch opponent of the multinationals and the same abuses of overseas investment. In a 1985 speech in parliament on unemployment, Benn said

We would have to stop the export of capital. Since the government came to power, for every family of four, £4,300 has left Britain. The Chancellor of the Exchequer says that we must tighten our belts because that is the way to solve the problem. But if a worker tightens his belt, the employer sends the money to South Africa, where the wages are lower still, because Botha’s police will not allow the unions to organise. The export of capital could not continue if we wished to solve the unemployment problem.

Ruth Winstone, ed., The Best of Benn: Speeches, Diaries, Letter and Other Writings (London: Hutchinson 2014) p. 166.

That’s still very pertinent today, when Tory donor James Dyson has moved his plants to the Far East and Jacob Rees-Mogg has investments all over the world, including in a condom factory in Indonesia.

Tony Benn – the greatest Prime Minister this country never had.

Tags: , , , , , , , , , , , , , , , , ,

2 Responses to “Tony Benn on Overseas Investment at the Expense of Britain’s Workers”

  1. trev Says:

    A condom factory! And how many kids does Mogg have? Besides which he’s a Catholic.

    • beastrabban Says:

      Absolutely! But that’s what I read. His investment company has shares in a condom factory. I think he tried to excuse himself by saying that he has shares in a number of businesses, and it’s his company’s decision or something. But you’re right, and people have called him out for his hypocrisy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


%d bloggers like this: