Banks don’t have to rip us off to make a profit. But that’s exactly what they’re doing: Bank of England interest rates are rising but most banks aren’t upping the savings rates for their loyal customers, meaning their profits increase while people across the UK don’t get the benefits of higher interest rates. [1]
It sounds like a complex issue, but it boils down to this: hundreds of thousands of us could be losing out on around £300 a year. [2] That’s why MPs are demanding answers from high street banks and over 60,000 people have signed our petition telling banks to stop taking advantage of loyal customers. [3]
The pressure is building, but we need your help to keep up the momentum. Because if we’re going to get banks to take this seriously, we need to show them that we – their customers – won’t stand for being ripped off. We’re ready to kick up a fuss in public – until they do the right thing.
David, will you take 30 seconds to add your name to the petition?
In the midst of the cost of living crisis, Britain’s biggest banks are taking advantage of us, their loyal customers. How? Well banks are making a profit out of rising interest rates – but they aren’t passing it on customers with existing savings accounts. So while we’re all struggling to make ends meet, banks are just getting richer. [1]
But here’s the thing – this issue is in the news right now, and banks have been put under the spotlight. MPs recently grilled them in Westminster, and now the FCA – the body who regulates banks – have said they’ll consider intervening if the issue continues. So banks will be feeling the heat – but we need to ramp up the pressure.
How? Well right now the voice of the public – their customers – is missing. A huge petition, signed by tens of thousands of us, could be the first step in sending a strong message to banks that we will not stand for this unfair practice. Together, we can turn up the heat and make sure banks pass on their profits.
So, David, will you add your name to the petition and demand higher interest rates for your savings account? It only takes 30 seconds to sign.
Right now, the country is struggling as the cost of living continues to soar. [3] Bank’s customers are the ones keeping them afloat. They’ve raised our mortgage rates, but they aren’t rewarding loyal customers by sharing the profits on savings. In fact banks are only offering new customers better deals to incentivise them to switch providers. While existing customers are left with the same low interest rates they’ve had before. [4]
It might feel hard to imagine that we can get the UK’s biggest banks to take action but we’ve done it before. Last March, over 80,000 of us came together and pushed HSBC to cut ties with Russia. [5] Later that month they increased sanctions and scrutiny of Russian clients worldwide. [6] Together we can take action again, and shame banks into prioritising their customers over their own profits.
Please add your name to the petition and demand better interest rates for ALL customers. It only takes 30 seconds to sign. It will only take 30 seconds to sign.
More proof of the Tories’ complete indifference to ordinary’s people’s suffering. The Trussel Trust, which runs the majority of Britain’s food banks, reported yesterday that there had been a steep rise in the number of people using them. They reported that last year they had served 1.3 million emergency food parcels. This is an absolutely disgrace in a country as rich as Britain. They recommended that benefits should be pegged to keep pace with the price of food.
Brilliant idea!
The response from the Tories was predictable, however. You got a statement saying that they were determined to eradicate poverty or something, and that they had raised benefits already by 10 per cent. My guess is that however much they raised it, it’s still below the rate of the inflation, so that food is still unaffordable for some people. Also, it doesn’t address the issue of the vicious and sadistic sanctions system, nor the poverty wages being paid by some businesses which means that many of those claiming benefits are actually working people.
The Beeb on their breakfast news this morning put up a series of graphs showing wages compared with the rate of inflation. The railway workers average wages were above, but those for teachers and nurses were below. Well below. If teachers’ wages had kept pace with inflation, they’d be on £44,000 by now.
But wage rises in line with inflation is too much for the Bank of England and the Spectator.
Yesterday an article from the Spectacularlyboring appeared stating that the Bank of England was right to demand that wages be kept low. This comes from very well paid Tory journalists repeating the ideas of exceptionally well paid Bank of England executives. I think the attitude is that if wages are raised, this will increase inflation.
Except that it’s not ordinary wages driving inflation. Robert Reich has said that it’s driven by profits, and although he was referring to America I dare say it applies over here.
What we need is a return to a prices and wages policy, but as this went out with Maggie Thatcher, it would be admitting that part of Thatcherism is a massive failure. And once that’s admitted, the rest is vulnerable too. And we can’t have the masses questioning the absolute truth of Thatcherite economic orthodoxy.
It’s long past time that Thatcherism fell. And the Trussell Trust is right:
I found this brief biography, ‘Who Is Jacob Rees-Mogg’ on the Led by Donkeys channel on YouTube. It covers Mogg’s life and career from his birth to today and shows exactly why he shouldn’t be anywhere near government – the greed, snobbishness, mendacity, duplicity and sheer governmental incompetence. Here’s a summary of its contents.
Mogg was born in May 1969 in London, the son William Rees-Mogg, the editor of the Times. He was naturally educated at Eton. In 1982, while he was a twelve-year old schoolboy, he was the subject of a French documentary as he was a financial trader and supporter of Thatcher. In one interview for the programme he said, ‘I love money. I always have done.’ When asked if he wanted to get married, he replied ‘No’, as he didn’t want to get divorced and his wife to get his money. In 1997 he campaigned for the Tories in the traditional Labour seat of East Fife. The image accompanying this shows him stepping over a fence looking exactly like John Cleese as the Minister for Silly Walks, but without the bowler hat. The locals were bemused by the fact that he was accompanied by his nanny, who was there to iron his shirts. 1998 – according to a biographer, his maid and his nanny took turns holding a book over his head at a picnic at Glyndebourne to make sure he didn’t get sunburnt. That same year he campaigned in the Wrekin, where he also lost. In 2006 he made a statement comparing people who weren’t privately educated and who never went to Oxford and Cambridge to potted plants and implied that they were incapable of writing an articulate letter. The next year, 2007, he and two of his friends set up Somerset Investment Capital. This committed itself to business ethics, but then stated that environmental, social and governmental concerns would not form the basis of their ethical policy.
In 2010 he finally succeeded in getting his wretched backside elected to parliament in the Somerset Northeast constituency. Three years later in 2013, Mogg distinguished himself by denying that workers have a right to a paid holiday. Then he took the decision to attend the annual dinner of the far-right Traditional Britain Group, despite being briefed about them by anti-Fascist organisation and magazine, Searchlight. He only decided to disassociate himself from them when they issued a statement denouncing Doreen Lawrence, the mother of murdered Black teenager Stephen Lawrence, as a ‘monstrous disgrace’ and recommending that people like her should be asked to leave the country. He also described man-made global warming as ‘much debated’ – totally wrong, as the vast majority of scientists are convinced it exists. The next year, 2014, Mogg advises that humanity should adapt to rather than attempt to mitigate climate change. He also lies about a UN report, claiming that it states that if measures were adopted to combat climate changes today it would take hundreds or a thousand years to produce results. The report said no such thing. In March the same year it was revealed his investment company was making a cool £3million from mining and £2.4 million in oil and gas.
In 2015 he stated his opposition to gay marriage and followed this in 2016 with a statement backing Donald Trump, who was then running a very racist, sexist and bigoted campaign. A year after that, in 2017, he revealed that he had never changed a nappy despite having six children. He also lied again, this time claiming that Labour had deliberately not told people they could get help from food banks. He also said that he thought the idea of people giving to these charities was ‘uplifting’. This was much mocked at the time. It is uplifting that people are willing to give to them, but utterly despicable that they have to exist in the first place. He also still opposed marriage equality and abortion in all circumstances as well as the morning after pill. Thus, he suffered no little embarrassment when it was revealed that he had investments in a company producing a stomach pill widely used in illegal abortions in Indonesia. He also had shares in a company producing drugs for legal abortions in India. He sold these shares, but retained those in tobacco, oil and gas companies. He also met Trump’s aide, Steve Bannon, a journalist for the far-right news outlet Breitbart, discussing how the right could win both in American and Britain. This segment has footage of the torchlight fascists marching in the ‘Unite the Right’ rally in Charlottesville. In 2018 it was revealed that Somerset Capital had also invested in Sberbank, a Russian bank that had been sanctioned by the EU since 2014 because of the Russian occupation of Crimea. It was also revealed a year later in 2019 that he’d made £7 million in profit from the Brexit vote. But backing Brexit didn’t stop him establishing two funds in Dublin to take advantage of the fact that it was still in the EU while London was not. Somerset Capital was paying him £15,000 per month and he owned 15 per cent of the shares. His firm was managed by subsidiaries operating perfectly legally in the tax havens of the Cayman Islands and Singapore.
Going back to the far-right, in 2019 he retweeted a comment by the leader of Germany’s Alternative Fuer Deutschland. He was also interviewed by Trump-supporter James Delingpole for Breitbart. The ousting of Tweezer by Johnson that year was also due in no small part to his machinations and that of his European Research Group. He also chose to show precisely what he thought about a debate on Brexit by lying down and appearing to go to sleep on the hallowed green benches of parliament. He also implied in a radio interview that the victims of the Grenfell fire died because they were too stupid to leave the building. He then mysterious vanished from the campaign trail, suggesting that his aides had advised him to lie low for a while. When a voter did try to ask him about his comment, he fled.
This year Truss made him Minister for Brexit Opportunities, despite profiting from investments in a Russian gas company, whose chair was one of Putin’s chums. He did, however, promise to divest himself of these investment after the invasion of Ukraine. Truss then appointed him Secretary of State for Business, Energy and Industrial Strategy. He backed the disastrous minibudget to the hilt, which has resulted in catastrophic mortgage hikes and the reimposition of austerity. Rather than accept responsibility, he blamed the mess on the Bank of England. The video ends with a young female journalist at the Financial Times describing this as ‘bollocks’.
This is who is now in government. And he’s only just down the road from me in Bath and Northeast Somerset. Uuurgh!
And after watching that video, here’s something that might cheer you up. Mogg’s frank statement that he loved money made me think of the Flying Lizard’s cover of the Beatle’s class, ‘Money’. Here it is, also from the TopPop channel on YouTube.
I found this on the Community page of the right-wing YouTube channel Correct Not Political. They seem to be a group of right-wingers who go around staging counter protests or demonstrations at left-wing events. They’ve been demonstrating at the recent Pride marches, Drag Queen Story Hour, also against Extinction Rebellion, anti-racism marches for refugees and they also seem to be militant anti-vaxxers. One of their collections of videos is simply titled ‘Socialists and Commies’. But they posted this about ordinary people struggling with poverty while the fuel and water companies make hugely inflated profits.
Well after yesterdays announcement from the Bank of England , there is something very very very wrong in the system… So… let me get this straight:
* British Gas made a profit of £1.3bn between January & June
* BP announced profits of £6.95 billion between April and June alone
* Shell has profited by £9.4bn in a year
The MEN at the top:
* John Pettigrew, boss of National Grid received £6.5m bonus on top of his salary
* Chris O’Shea, chief executive of British Gas owner Centrica was paid almost £2m last year in salary and benefits
* Centrica’s non-executive directors were paid almost £1m
* Scottish Power’s CEO Keith Anderson is on £1.15m.
* E.On boss Michael Lewis is on £1m
* EDF’s Simone Rossi is also on £1m
* And their top execs enjoyed a share of £4.65m
* Peter Simpson of Anglian Water earned a £1.3m pay package
* Welsh Water bosses awarded themselves bonuses of over £930,000
* Severn Trent bosses awarded themselves bonuses of £5.56m
* Thames Water’s Sarah Bentley, received a £727,000 bonus on top of her £2m annual salary
Meanwhile there are…
* People who haven’t had breakfast and/or lunch TODAY, because they can’t afford it.
* People using FoodBanks because food is becoming more of a luxury than a necessity.
* Children celebrating a birthday without presents.
* Parents worrying about new school uniforms – and some schools enforcing rules which are not cost-effective.
* People who can’t get to work because they can’t afford to put petrol in their cars/pay for public transport anymore.
* People who are working so much they’re making themselves ill, and they STILL CAN’T AFFORD to pay their bills.
* People who have been given fines by these same energy/water companies because they couldn’t afford to pay their bills in the first place – increasing their debt.
* Customers being told to do STAR JUMPS TO KEEP WARM for crying out loud!
* Hose pipe bans when gallons of water leak away everyday.
* Elderly people NOT DRINKING because they’re worried about running out of water!!!
All this and energy prices are set to rise up to 75% in October…
THIS IS MADNESS!.. I’m all for supporting profits ..I’m not for supporting greed at the cost of lives of others..
Something needs to change.. Why are customers’ money being used to make life more comfortable for those who are making life more intolerable for the rest of us?
I actually don’t understand how the energy companies are allowed to get away with this and why the government aren’t stopping them instead of handing out money…..
Copied & pasted from others. Keep this going around for all to see’
I’ve got absolutely no problem posting this up despite where it comes from. Because these profiteers do need to be named and shamed. And this whole scam is why the public utilities need to be nationalised, so that they work for this great country’s people rather than exploiting them.
Bug-eyed right-wing YouTuber Alex Belfield also put up another video today in which he gave his viewers the benefit of his scathing criticism of the Bank of England. Inflation is rising, you see, and the Bank is afraid that if people ask for a pay rise, this is will exacerbate it. So they’ve called for people not to ask for one. Belfield was duly disgusted, pointing out that the people ordering this were toffs, who would then give themselves an exorbitant pay rise on the grounds of enhanced performance or something like that. I don’t disagree with him. Prices are rising, and pay has been kept below the inflation rate for donkey’s years now so that most people have effectively taken a pay cut. The left in Britain and America has pointed out that pay for ordinary people has stagnated since the 1980s. But it has increased massively for the rich. And we have seen chief executives award themselves massive, bloated pay rises, all accompanied by cries that it was just performance related pay and they were paying themselves the market rate for their talents. Even when those talents pushed their companies to the wall. A number of economists have actually suggested that keeping inflation low actually hasn’t benefited the economy, which is another knock to Thatcherism.
Jeremy Corbyn promised to increase the pay of ordinary people. He was also going to strengthen trade unions and give employees more rights at work. It was after all strong unions that won pay rises for their workers. But Thatcher hated the unions because they were a check on management and lowered productivity. So she did everything she could to strangle and smash them, a policy that was continued by all the administrations that followed her.
As for people not being able to afford food and other essentials, wasn’t that what the prices and incomes policy pursued by various post-War governments until Thatcher was supposed to solve? Yes, I think it was. Looks like we might need to revive it. Which is more proof of the massive failure of Thatcherism.
Everything working people are suffering now is the direct result of the Conservative, Thatcherite policies Belfield supports. This is why Thatcherism should be consigned to the dustbin and his own wretched right-wing opinions ignored.
It’s why we need to give working people real wages, and revive the trade unions.
It’s why we should have had Jeremy Corbyn in No. 10.
Lobster over the years has criticised the dominance of the financial sector over the British economy, and attacked the way this has actively harmed other sectors, particularly manufacturing industry. Thatcher, Major and then Tony Blair favoured banking and financial services over the industries, partly from economic illiteracy and partly from the conviction that Britain’s manufacturing sector was doomed. Thatcher believed very much in a strong pound and didn’t think it would harm the manufacturing industries. One of the few businessmen from that sector in Thatcher’s government tried to tell her otherwise, and show her that it would damage our exports by making them too expensive over our competitors. But Thatcher wouldn’t hear of it. She was convinced that it wouldn’t have any effect on manufacturing because the Germans had a strong manufacturing base, and they had a strong Deutschmark. The businessman tried to explain to her that the Mark was strong because they had a strong manufacturing base, not the other way around. But it was too much for the Leaderene’s brain and she refused to listen.
Thatcher also made it very clear that she was not going to help failing industries. What help there was, was supposed to come from the privatisation of state utilities and the operation of market forces. This was supposed to open up new forms of private investment. If they didn’t, then that company or industry was uncompetitive and doomed to fail. Meanwhile, the thinking went that the financial sector would take over from the failing manufacturing industries as a new source of wealth and employment. Thus Blair, Brown and the late Mo Mowlam opened up the ‘prawn cocktail’ campaign to win over the City of London, promising light regulation. One of the chief executives at the Bank of England, imported from America, was Deanne Julius, who said that Britain should abandon its manufacturing industries and allow them to be replaced by America’s. Instead, Britain should concentrate on the service industries.
This is another load of neoliberal economic rubbish that has been conclusively proved wrong. The Oxford economics professor, Ha-Joon Chang, in his book 23 Things They Don’t Tell You About Capitalism shows that despite Thatcherite dogma, manufacturing is still crucially important for the British economy. It only looks weaker than the other sectors, because it has grown at a slower rate.
Now Robin Ramsay in the latest update to his ‘News from the Bridge’ column in Lobster 78 has published a piece actually describing the active harm the privileged position of the financial sector has done the British economy as a whole. It’s in a piece ‘The Future of Britain’s Crisis’, which begins with a few sharp observations about the impotence of the House of Commons Security and Intelligence Committee. This is supposed to supervise Britain’s intelligence services, but its lack of effective power is demonstrated by Johnson’s suppression of the report into Russian influence in UK politics. From leaks to CNN and others, it shows that rich Russians have purchased UK citizenship and poured money into Tory coffers. He states that this is just part of the price Britain has to pay for Britain being one of the leading centres of money laundering. He continues
The idea that there is a structural conflict between the interests of the manufacturing economy and that of the City has been around since the late 1970s in my experience, and probably much longer. The conflict was rarely articulated by public figures beyond the British left but in 1980, with Bank of England base rates lifted to 14% ‘to control inflation’, Sir Terence Beckett, director-general of the Confederation of British Industry (CBI), told its annual conference that they had to ‘to take the gloves off and have a bare-knuckle fight’ with the Thatcher government. But no such fight ensued, Beckett resigned and in the following decade while the City boomed, British manufacturing shrank by about 20%.
The focus these days is less on structural conflict than on what is known as ‘over-financialisation’: roughly, that the financial sector gets to be too big for the rest of the economy. Recently a trio of economists/econometricians (from the Sheffield Political Economy Research Institute at the University of Sheffield) have tried to quantify the cost of UK over-financialisation and have concluded:
‘Our calculations suggest that the total cost of lost growth potential for the UK caused by “too much finance” between 1995 and 2015 is in the region of £4,500 billion. This total figure amounts to roughly 2.5 years of the average GDP across the period.
The data suggests that the UK economy, may have performed much better in overall growth terms if: (a) its financial sector was smaller; (b) if finance was more focused on supporting other areas of the economy, rather than trying to act as a source of wealth generation (extraction) in its own right.
This evidence also provides support for the idea that the UK suffers from a form of “finance curse”: a development trajectory of financial overdependence involving a crowding out of other sectors and a skewing of social relations, geography and politics.’ [Emphases in the original.]
On similar lines, Grace Blakeley writes in her On Borrowed Time: Finance and
the UK’s current account deficit, that
‘Rebalancing the UK’s international position requires moderating the significance of finance within the UK economy and bringing asset price volatility under control, while nurturing non-financial exporting sectors.’
Ramsay concludes the article by remarking that it would be a difficult job convincing the political establishment of this, never mind the electorate. The failure of people working within London to understand that the capital’s influence and share of the country’s wealth is harming the rest of the country has helped the rise of the Scots and Welsh Nationalists, along with less significant movements like the Yorkshire Party, the Campaign for the North and Mebyon Kernow.
£4,500 billion lost to the British economy between 1995 and 2015!
And never mind the millions of jobs lost, the destruction of working class communities right across the country from Cornwall to Scotland and Northern Ireland, lost skills and damaged lives!
All that simply so that Thatcher’s, Blair’s, and now Boris and Rees-Mogg and their chums in the City of London could make a tidy profit.
This is proof that we need a Corbyn government that will do something for public services and manufacturing industry, rather than more of the self-serving Tory economic policies that benefits only the City.
Yesterday’s I, for Tuesday, 15th October 2019, carried an article by Jennifer Logan reporting that an elderly rabbi had been arrested by the rozzers after praying at an Extinction Rebellion protest in London. The article ran
A rabbi who was arrested after kneeling and praying in the middle of a road during the Extinction Rebellion protests in London said yesterday that he was “standing up for his grandchildren.”
Police have now arrested 1,405 people in connection with the protests, which will continue tomorrow when activists are understood to be planning to block roads outside MI5 on what will be the seventh day of direct action over the global climate crisis.
Jeffrey Newman, the Rabbi Emeritus of Finchley Reform Synagogue in north London, was protesting alongside about 30 Jewish activists. He was arrested near the Bank of England as hundreds of people descended upon the financial centre for a second week of protests.
The 77-year-old, who was wearing a white yarmulka branded with the black Extinction Rebellion logo, said: “I see it as my religious and moral duty to stand up for what I believe in, and what I care about, for my grandchildren.
“I haven’t tried to involve the synagogue, because if you are asking for permission, you might not get it. I think it’s much more important to do what I’m doing.”
After last week’s protests, which blockaded Parliament and targeted City Airport, protesters are now focusing on the City of London over financial backing for fossil fuels. They claim that trillions of pounds are flowing through financial markets to invest in fossil fuels which damage the climate.
Extinction Rebellion said dozens of activists were due to appear in court this week, including trials connected with previous action in April.
I have to say that Extinction Rebellion aren’t exactly my favourite protest group, because their demonstrations seem to inconvenience the general public more than the politicians and the big corporations behind the fossil fuel industries and global warming. But they have a very, very good cause. Meteorologists, ecologists, along with other scientists and broadcasters like Sir David Attenborough have been warning for decades that unless something is done, our beautiful world may very well die and humanity along with it. When I was studying for my doctorate in Archaeology at Bristol Uni, one of the postgraduate seminars in the department was by an archaeologist on the impact of climate change on human cultures throughout history. He was particularly concerned about drought and desertification, which certainly has catastrophically affected human civilisations around the world. One of the most dramatic examples was the abandonment of the Amerindian pueblo cities in the Canyon de Chelly in the American southwest around the 12th century AD. The pueblo cultures had created an extensive irrigation to supply water to their crops in the southwestern desert. However, in the 12th century that part of America entered an extremely dry period during which the available water dried up. Civilisation was not destroyed, as the Amerindian peoples themselves survived by retreating to more fertile areas. Nevertheless, it resulted in those pueblos, which had survived for centuries, being abandoned.
And now we face a similar crisis in the 21st century, thanks in part to global warming and an increasingly intense demand for water. Back in the 1990s one edition of the Financial Times predicted that climate change and competition for water resources would be the major force for war in the 21st century. In West Africa one of the reasons for the conflict in the north of Nigeria, for example, between Christians and Muslims is the desertification of the traditional grazing territory of nomadic pastoralists. These are mainly Muslim, who have been forced to move south onto land belonging to mainly Christian peoples in order to feed their flocks. The result has been ethnic and religious conflict. But it’s important to realise that the roots of this conflict are primarily ecological. It is not simply about religion. Examples of desertification and global dry periods in the past have been used by the Right to argue that the current climate crisis really isn’t as acute as scientists have claimed. It’s just the world’s natural climatic cycle repeating itself. This certainly wasn’t the view of the archaeologist giving that talk at uni, who warned that there was only a finite amount of water and urged us all to use it sparingly.
It was interesting to read the good rabbi’s concern for the planet and his grandchildren. People of all faiths are now worried about climate change. One of the priests at our local church preached a very long sermon on Sunday, no doubt partly inspired by the coming Extinction Rebellion protests, on the need to save the planet. I’ve no doubt that the involvement of practising Jews in this protest, and others, will cause something of a problem for some of the propaganda used to attack Green groups. Because there was a very strong ecological aspect to Nazism, the Right tries to close off sympathy for Green politics as a whole by smearing it as a form of Nazism, even when it’s blatantly clear that they aren’t. But the IHRC definition of anti-Semitism states that it is anti-Semitic to describe a Jew as a Nazi. Which is going to make it rather difficult for the organisations and rags that follow this line to claim that Jewish Greens are somehow supporting Nazism for getting involved in protests like this.
But it seems the cops are becoming very heavy-handed in their treatment of protesters. Mike over on his blog condemned the arrest of a 91/2 year old gentleman on another climate protest. This spirited old chap used the same explanation for his actions as Rabbi Newman: he was worried for the future of his grandchildren. Or great-grandchildren. He was arrested because he was caught protesting outside the Cabinet Office, and so frightened that doughty defender of British freedom, Boris Johnson. Yeah, our current excuse for a Prime Minister, who seems to fancy himself as the heir to Julius Caesar, Admiral Nelson, the Duke of Wellington, and Winston Churchill, was ‘frit’ – to use Thatcher’s word – of a 91 or 92 year old gent. Mike concluded of this gentleman’s arrest
Conclusion: John was committing an offence against nobody but Boris Johnson. A Boris Johnson government is an offence against the very environment in which we live.
As ever, Mike is correct. In a subsequent article he showed that the Tories are far more likely than Labour to vote for policies that actively harm the planet. BoJo himself ‘was also among 10 ministers who received donations or gifts from oil companies, airports, petrostates, climate sceptics or thinktanks identified as spreading information against climate action.’ Mike’s article was based on a Guardian piece, that developed a scoreboard for the parties’ and individual politicians’ voting record. The Tories on average scored 17. Labour scored 90, and Jeremy Corbyn 92. Mike’s conclusion:
if you want a government that acts against climate change and to protect the environment for you, your children and future generations, you need to vote LABOUR.
And we have to stop the cops being used as BoJo’s private police force, so that no more decent people, including senior citizens and members of the clergy of this country’s diverse religious communities, are picked up because they dare to frighten BoJob and his wretched corporate backers.
Yesterday for our amusement the awesome Kerry Anne Mendoza posted a video on twitter made by two very definitely overprivileged girls talking about the evils of socialism. The two young ladies were Alice and Beatrice Grant, the privately educated granddaughters of the late industrialist and former governor of the Bank of England, Sir Alistair Grant. With their cut-glass accents and glazed, robotic delivery of their lines, they seemed to fit the stereotype of the idiotic Sloane perfectly, right down to the ‘Okay, yah’, pronunciation. Mendoza commented ‘I don’t think this was meant to be a parody, but it’s the perfect roast of the “yah-yah” anti-left.’
Absolutely. In fact, what the girls were describing as socialism was really Communism, completely ignoring democratic socialism, or social democracy – the form of socialism that demands a mixed economy, with a strong welfare state and trade unions, progressive taxation and social mobility. It also ignored anti-authoritarian forms of socialism, like syndicalism, guild socialism or anarcho-Communism. They were also unaware that Marx himself had said that, regarding the interpretations of his views promoted by some of his followers, he wouldn’t be a Marxist.
But it would obviously be too much to expect such extremely rich, public school girls to know any of this. They clearly believed, and had been brought up to believe, the Andrew Roberts line about capitalism being the most wonderful thing every invented, a mechanism that has lifted millions around the world out of poverty. Etc. Except, as Trev, one of the great commenters on Mike’s and this blog, said
If “Capitalism works” why are there a million people using foodbanks in Britain today? Not working that well is it? Why did the Government bail out the Banks using our money? Why did the Banking system collapse in the first place, was it because of Socialism? I don’t find these idiotic spoilt brats in the least bit funny, I feel bloody angry. When was the last time they ate food they found in the street? Bring back the Guillotine!
The two girls were passionate supporters of the Fuhrage and his wretched party, and were really looking forward to a no-deal Brexit. It shows how out of touch these girls are, as Brexit is already wrecking the British economy, and a no-deal Brexit and subsequent deal with a predatory America would just wipe it out completely. Along with everything that has made post-war Britain great – the NHS and welfare state. But these girls obviously have no connection with working people or, I guess, the many businesses that actually depend on manufacturing and exports. I think the girls’ family is part of financial sector, who stand to make big profits from Brexit, or at least are insulated from its effects because they can move their capital around the globe.
The girls’ views on the EU was similarly moronic. They really do seem to believe that the EU is somehow an oppressive, communistic superstate like the USSR. It wasn’t. And the reason anti-EU socialists, like the late, great Tony Benn distrusted it was partly because in their view it stood for capital and free trade against the interests of the nation state and its working people.
And they also have weird views on slavery and the EU’s attitude to the world’s indigenous peoples. To the comment by David Lammy, the Black Labour politico, who dared to correct Anne Widdecombe for comparing Brexit to the great slave revolts, they tweeted
“Lammy being pathetic as usual. The chains of slavery can be intangible, as amply shown in China, the Soviet Union and the EU; to deny that just shows your ignorance and petty hatred for the truth”.
To which Zelo Street commented that there two things there. First of all, it’s best not to tell a Black man he doesn’t understand slavery. And second, the EU isn’t the USSR.
They were also against the Mercosur deal the EU wishes to sign with the South American nations, because these would lead to environmental destruction and the dispossession and exploitation of the indigenous peoples.
“As usual the GREED and selfishness of the EU imposes itself using their trade ‘deals’ in the name of cooperation and fake prosperity. The indigenous tribes of the Amazon need our protection not deforestation”.
To which Zelo Street responded with incredulity about how they could claim environmental concern for a party headed by Nigel Farage.
And they went on. And on, going on about how the EU was a threat to civil liberties. And there was more than a touch of racism in their statement that Sadiq Khan should be more concerned to make all Londoners feel safe, not just EU migrants. They also ranted about how Labour had sold out the working class over Brexit in favour of the ‘immoral, money hungry London elite’. Which shows that these ladies have absolutely no sense of irony or any self-awareness whatsoever.
In fact, Zelo Street found them so moronic and robotic, that it dubbed them the Brexit party’s Stepford Daughters, referring to the 70s SF film, the Stepford Wives. Based on the novel by Ira Levin, the films about a community where the men have killed their wives and replaced them with robots.
There’s a lot to take apart with their tweets. And perhaps we shouldn’t be two hard on the girls. They’re only 15 and 17. A lot of young people at that age have stupid views, which they grow out of. But there is one issue that really needs to be challenged.
It’s their assumptions about slavery and the genocide of indigenous peoples. Because this is one massive problem to any assumption that capitalism is automatically good and beneficial.
There’s a very large amount of scholarship, much of it by Black activists and researchers, about slavery and the emergence of European capitalism and the conquest of the Americas. They have argued that European capitalism was greatly assisted by the profits from New World slavery. Caribbean historians like Dr Richard Hart, in his Blacks in Bondage, have shown that transatlantic slavery was a capitalist industry. For the enslaved indigenous peoples and the African men and women, who replaced them when they died out, capitalism certainly did not raise them out of poverty. Rather it has done the opposite – it enslaved them, and kept them in chains until they were able to overthrow it successfully with assistance of European and American abolitionists in the 19th century.
And among some left-wing West Indians, there’s still bitterness towards America for its constant interference in the Caribbean and Central and South America. America did overthrow liberal and progressive regimes across the world, and especially in the New World, when these dared to challenge the domination of American corporations. The overthrow of Jacobo Arbenz’s democratic socialist regime in Guatemala is a case in point. Arbenz was overthrown because he dared to nationalise the banana plantations. Which upset the American United Fruit Company, who got their government to overthrow him in coup. He was replaced by a brutal Fascistic dictatorship that kept the plantation workers as virtual slaves. And the Americans also interfered in Jamaican politics. They were absolutely opposed to the Jamaican Labour party politician, Michael Manley, becoming his nation’s Prime Minister, and so did everything they could to stop him. Including cutting trade.
And then there’s the enslavement and genocide of the indigenous peoples.
Before Columbus landed in the New World, South America had a population of about seven million. There were one million people in the Caribbean. I think there were similar numbers in North America. But the indigenous peoples were enslaved and worked to death. They were also decimated through diseases carried by Europeans, to which they had no immunity. The Taino people were driven to extinction. The Caribs, from whom the region takes its name, were able to survive on a reservation granted to them in the 18th century by the British after centuries of determined resistance. The conquest of the New World was a real horror story.
And Britain also profited from the enslavement of indigenous peoples. I doubt the girls have heard of it, but one of the scandals that rocked British imperialism in the late 19th and early 20th centuries was that of the Putomayo Indians of South America. They had been enslaved by British rubber corporations. It was this abuse of a subject people that turned the Irish patriot, Roger Casement, from a British civil servant to an ardent Nationalist.
On the other side of the world, in the Pacific, British imperialism also managed to dispossess an entire Polynesian people and trash their island. This was in the 1920s. The island was rich in mineral deposits, and so moved the indigenous people out, ultimately relocating them to Fiji. Their island was then strip-mined, leaving it a barren, uninhabitable rock. In the 1980s the survivors were trying to sue the government over their maltreatment, but with no success.
This is what unfettered British imperialism and capitalism did. And what I’ve no doubt Farage and other far right British politicians would like to do again without the restraints of international law. It’s why I believe that, whatever the demerits of the Mercosur agreement are, it’s probably better than what individual nations would do without the restraint of the EU.
The girls are right to be concerned about the fate of indigenous peoples. But they are profoundly wrong in their absolute, uninformed belief that unregulated capitalism will benefit them.
It doesn’t. It enslaves, dehumanises and dispossesses. Which is why we need international organisations like the EU, and why the Brexit party isn’t just a danger to Britain, but to the world’s weaker, developing nations and their indigenous peoples.
Yesterday, a group of three MPs, Sarah Wollaston, Heidi Allen and Anna Soubry, defected from the Tory party to join the Independent corporation, that had split from Labour.
At their press conference they gave three reasons why they had left. Heidi Allen said she was disgusted with the suffering the party had inflicted and its lack of benevolence. For Sarah Wollaston, it was the harm the Tories had done to the manufacturing industry. And for Anna Soubry it was the way her former party had wrecked the country with their massively inept handling of Brexit. Or it might have been Wollaston, who was most concerned about Brexit, and Soubry about the destruction of Britain’s manufacturing sector under the Tories. This is how the reasons for their departure was presented on one of the short videos on YouTube, although I got the impression from listening to Heidi Allen speaking on the 45 minute long video of their press conference put out by Channel 4 News that she was also concerned about Brexit and the attack on manufacturing, as she also ran her own manufacturing firm.
The Tories, who had previously been gleefully exploiting Chuka Umunna and company’s split from the Labour party, were left outraged in their turn. Hunt gave a speech saying how much he regretted the departure of such valued colleagues. Other Tory functionaries demanded that the Splitters should now call a bye-election. Just like the real supporters and activists in the Labour party have been demanding Umunna and his coteries of bitter Blairites do.
I don’t know how sincere Allen and her two colleagues are about the suffering caused by the Tory party. She made a number of speeches saying how upset she was by the suffering caused by her former party’s wretched welfare reforms, but voted for them all the same. So in her case it was, as Mike pointed out, a case of crocodile tears. She may be genuine, and that after years of dutifully following the party line her conscience has won at last. Or it may simply be that, like some other Tories, she’s just worried that the electorate will punish the Tories for the misery they’ve inflicted at the next election.
I think the three’s statement that they’re concerned about British manufacturing and the devastating effects of Brexit are rather more genuine. Margaret Thatcher and Blair in his turn ignored the manufacturing sector. One members of Thatcher’s cabinet, who was the only member in it from that sector of the economy, described how he couldn’t get Thatcher to understand that a strong pound would harm British manufacturing by making our products more expensive. She also uncritically accepted as an article of her neoliberal, free market dogma, that failing firms and industries should be allowed to go under, and should not be given government assistance. Which contrasted with Labour’s promotion of the National Enterprise Boards and state assistance for British industry, where the government would help firms acquire plant and equipment.
And as a good Thatcherite, Blair also adopted her destructive attitude to British industry. He was also quite happy to see British manufacturing collapse. Instead, its place at the heart of the British economy would be taken by the financial sector and the service industries. Deanne Julius, a leading official at the Bank of England, recruited from America, actually said that Britain should give up its manufacturing industry, and simply concentrate on the service industries.
The result has been that vast swathes of traditional British industry have been destroyed by Thatcherism, including mining. Which was done simply to destroy the miners’ union, so they could never overthrow a Tory government as they had Heath’s. However, as Ha Joon-Chang has shown in his book, 23 Things They Don’t Tell You About Capitalism, manufacturing is still an extremely important part of the British economy. It looks weak simply because it hasn’t expanded as much as the other sectors of the British economy. But if it went, the British economy would collapse completely.
As for Brexit, the past few weeks have seen company after company leave the UK because of the Tory party’s incompetence. They’re leaving because we haven’t reached a trade agreement with EU, and so the tariff barriers that will be erected after Britain leaves will make it difficult for them to sell their products after our departure. The latest firm to announce it was closing down its British plant has been Honda in Swindon. When this goes, so do 3,500 jobs.
But I doubt that this will concern those in the Tory party demanding a hard Brexit, like the odious Jacob Rees-Mogg. The financial sector has also been hit, with various banks and international financial regulators announcing that they will leave Britain for Dublin, Paris and the Netherlands. But this doesn’t seem to dismay Mogg and his comrades. They seem to be all financiers, who make their money through investing in companies around the world. And so the destruction of the British manufacturing sector simply doesn’t affect them. They’ll get their money anyway.
The Tory party is seriously split over Brexit. It was to call the Eurosceptics’ bluff that Cameron called the referendum in the first place. He was so confident that people would vote ‘remain’ that he didn’t do any proper campaigning. The result was that he was astonished when the ‘Leave’ vote prevailed. But I gather that the Tories were on the edge of splitting years before, when Tony Blair was in power. Blair stole their policies, and indeed moved further right than the Tories had dared. The party was also split between the Tory paternalists and Thatcherites, and the rural sector, which believed that British agriculture and country communities were being ignored. I’ve heard it said that if Brown had won the 2010 election, the Tories would have collapsed completely, and would have tried to rebrand themselves instead as the English Nationalists. This has the ring of truth, as I do remember one opinion piece in the Heil actually recommending that the party thus rename itself.
I hope that the departure of Allen, Wollaston and Soubry will spark a series of other defections from the Tories and bring about the party’s much-need demise. It’s brought nothing but misery and poverty to Britain’s working people since Thatcher came to power in 1979. And even if the party doesn’t collapse completely, I want there to be so many defections that at the least it causes the collapse of May’s vile, malignant, destructive government.
This is a great little video from RT. It’s only less than half a minute long, but it shows Jeremy Corbyn tearing into Theresa May for laughing about the smallness of the rise in wages.
Corbyn says
The chief economist at the Bank of England describes the last decade as a lost decade for wages and well the Prime Minister might laugh at this, it’s the reality of peoples’ lives! It’s the reality of peoples’ lives!
It ends with the House in uproar and Bercow crying “Order! Order!”
But Corbyn’s right, as you can see when the video shows May and her wretched gang shaking their heads with their stupid, facetious smiles on their face. They’re no doubt trying to show that they don’t take his accusation seriously, but it instead shows that Corbyn is absolutely right. They don’t take ordinary peoples’ misery seriously. You could see that on a previous video, where Cameron and Iain Duncan Smith had a good guffaw as one woman told her story of how the bedroom tax had left her in poverty and despair. And May herself has done this before, when Corbyn has read out the letters he’s had from people describing how they’ve been left worse off – much worse off – due to the government’s benefit cuts.
They have no sympathy for the poor. Not a shred. All the care about is cutting taxes for the rich. Ordinary people are simply raw material for corporate capitalism, either as a workforce, who are to be kept on low wages to increase profits, or as consumers to be exploited. Like when the government privatizes the healthcare and educational systems, so that private medical firms and academy chains can get big profits from government contracts before the whole lot is privatized completely and they can exploit everyone through private hospital and insurance charges and school fees.
That snide, smug grin is the real face of Tweezer and her cabinet. They’ve got to go. All of them. NOW!
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