Downloading PDF. Please wait... Issue 2149

Take all the cash from super-rich

This article is over 12 years, 9 months old
Richest people in Britain own £258 billion | Public sector will be slashed by £35 billion
Issue 2149

Chancellor Alistair Darling declared war on ordinary people and public services with his budget last week.

He announced plans for £35 billion worth of government “efficiency savings”. This means cuts to hospitals, schools and other vital services. It means job losses and pay freezes.

And it means standing by and doing nothing as the economic hurricane throws tens of thousands of people out of work.

New Labour expects those who have little or nothing to pay for the economic mess its love of the free market it has got us into.

It has so far given or pledged £1.4 trillion to the failing banks.

It is the rich, who benefited from the economic “boom”, who should have to pay for this crisis.

Despite the credit crunch wiping off some of their wealth, Britain’s 1,000 most super-rich individuals are still swilling around in £258 billion – as revealed by the Sunday Times Rich List 2009. The Duke of Westminster alone is worth some £6.5 billion.

Darling said that he will raise taxes on those earning over £100,000 to 50 percent. But this barely touches their ill-gotten gains.

All their money should be taken off them. This, along with stopping military spending, could be used to fund our jobs and services, and ensure that ordinary people do not suffer the brunt of the recession.

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