Tuesday, 28 August 2007

FAT CATS GET FATTER

I have often been barracked by New Labour supporters as being an oppositionalist who doesn't recognise the great work done by Blair ( and now Brown) in reducing inequality and re-distributing wealth by stealth. This line is also one often trotted out by wealthy media folk like Polly Toynbee and Martin kettle.

Tbe reality for most of us is that the gap between rich and poor in this country is wider than ever. Not exactly something to shout from the rooftops at the forthcoming Bournemouth Conference, is it? .
Today's Guardian ( though actually these gross inequalities were discussed three days ago elsewhere has the bare statistics - they speak volumes.
City bonuses have increased by 30 per cent to a record £14bn this year. The rise is twice as big as in 2006. The bonuses of course come against a background of record debt, rising bankruptcies and home repossessions.
Data from the Office for National Statistics (ONS) shows that bonuses across the economy rose 24 per cent this spring to £26.4bn, comfortably exceeding the country's entire transport budget. More than half, £14.1bn, was earned by the 1 million people in the financial services sector. The figure for 2006 bonuses was £10.9bn. For those with the money, life couldn't be sweeter. Apart from the fact they may have to wait five years for a Rolls-Royce - such is the waiting-list. At the top end of the market, property prices in London have gone up 30 per cent.Meanwhile, public sector workers are being offered 2 per cent pay increases. And expected to be grateful.
I am reminded, for some reason, of Neil Kinnock's 1985 Leader's speech , which talked in pretty vitriolic terms of the "obscenity" of "a Labour council , a LABOUR council, delivering redundancy notices in taxis " ( which by the way was never true). Is it not even more disgraceful that after 10 YEARS of Labour Government an egalitarian society is further away than ever.And, that our Prime Minister and Chancellor refuse to even contemplate narrowing the gap by introducing fair and equitable progressive taxation. No wonder Brown's pal Ronnie Cohen is warning of riots in the streets.....

2 comments:

Anonymous said...

I am curious about this notion of an "egalitarian society" - and this is not a wind up!

I know it's difficult to precis but what does it mean in practice? Are you, for example, intent on a single wage for everyone? Are you suggesting that everyone should, eventually, live in exactly the same type of house?

It's the practicalities of teh idea I'm interested in - if you have the time.

susan press said...

I am too busy trying to earn enough to reduce my overdraft to go into detail but no, one-wage, one-house solutions are not the answer.It's the gap that is the problem. The obscenity of greed and rank consumerism which divides us from the developing world, the relatively poor here with the super-rich, the (for many) impossibility of even getting a place on the property ladder - and lack of decent housing to rent or buy @ affordable rates.
Minimum wage is fine - but in the light of these figutes frankly it's a joke.Progressive taxation would be a start. By egaliatarian, I mean a basic , decent standard of life for all. And, yes, a reduction in the unacceptable disparities between rich and poor.