Socialist Worker

Squeeze the rich

Issue No. 2113

Worried about paying your gas bill? Losing sleep over debt? Well there’s another world not so far away where such petty worries keep no one from their slumber.

Over 400 families in London are now so rich that they need private offices to “protect” the family wealth, arrange personal security, private education, and look after properties, yachts and servants.

The number of such offices has grown annually by 15 percent over the last three years.

The ultra-rich chose to live in London because New Labour presides over one of the lowest tax rates for the wealthy in the world. Once a Labour chancellor promised to tax the wealthy “until their pips squeaked”. Why not?

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What We Think
Tue 5 Aug 2008, 17:37 BST
Issue No. 2113
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