A small number of largely unregulated commodity trading houses have seen their profits rise astronomically over the last decade. And their wealth has come at the expense of poor people, largely in the Global South.
The commodities market is notoriously volatile. Just last week the market for the most reliable commodity, gold, dropped 15 percent.
Commodity firms pay low rates of tax, on average no more than 15 percent.
Trafigura accounts for 40 percent of trade in refined copper, lead and zinc. But the one time it made world headlines was in 2006 when a ship it owned was responsible for dumping toxic waste in Côte D’Ivoire.
Ian Taylor is head of the world’s largest oil trading company, Vitol. While the company is based Switzerland, he has donated £550,000 to the Tories.
Today just 7 percent of England’s population live in council homes. When Margaret Thatcher came to office it was almost half.
One of London’s biggest housing associations today is the Peabody Trust.
Cuts of £350 million from legal aid will deny thousands of ordinary people the right to defend their jobs, homes and benefits in court, says Siân Ruddick
The UK Independence Party poses as a radical party that speaks for ordinary people, but its programme is rabidly anti-working class, writes Judith Orr
The Tories are steaming ahead with their programme of cuts and austerity – and they are still looking after their friends at the top, writes Simon Basketter
George Osborne wants to protect British banking from reform and preserve a system that’s stacked against ordinary people, writes Sadie Robinson
The reality behind the ugly right wing myth that migrants are a ‘drain’ on society
David Cameron promised a referendum on leaving the European Union (EU) last week.
The long term decline of Britain as a global power meant a fragmenting of the British ruling class consensus in favour of European integration.
Socialist Worker is against the European Union and will argue to vote to leave it in any referendum.
Liam Fox wrote David Cameron’s EU referendum speech for him.
The British government has decided that India is no longer poor enough to receive overseas aid.
Giant aid organisations are inseparable from the British establishment that pays for them.
The Department for International Development runs its own investment fund, the Commonwealth Development Corporation (CDC).
The government wants to replace the Trident nuclear missiles system before the current one expires, sometime in the five years after 2025.