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14 July 2021

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Wealth chasm widens

Take the wealth off the 1%!, photo Senan

Take the wealth off the 1%!, photo Senan   (Click to enlarge)

The rich have got richer during the pandemic. For those who own expensive property or other assets, they have seen a big jump in their family wealth, widening the already existing wealth chasm. The continued rise in house prices has helped. Not much use if you are a lower-paid worker looking to buy a home.

A year of Covid restrictions has meant that those who are better off have been less likely to spend and have increased their savings. For those worse off, they are more likely to have lost their job, taken a 20% pay cut on furlough, or taken the opportunity to pay off debts.

The report states that total UK wealth has increased by 900 billion during the course of the pandemic. It is clear that the Tories want to keep this wealth in the hands of the rich. That explains the planned end of the Universal Credit uplift and triple lock on pensions. It is also clear that Labour is unprepared to challenge them. We need a new mass workers' party that fights in the interests of the working class with a socialist programme to take the wealth off the super-rich to end poverty and inequality.

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Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

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In The Socialist 14 July 2021:


NHS

NHS: Kick out the privatisers - Fight for a 15% Pay rise

Scrap the privatising health and care bill

Tories threaten to axe free prescriptions for older workers


Covid

We cannot trust this government over Covid: Fight for a new workers' party

Trade unions must continue the fight for Covid safety


LGBTQ+

Pride is protest - Build a mass movement for LGBTQ+ liberation and socialism

LGBTQ+ workers' charter


Workplace news

Dagenham school workers strike against 'fire and rehire' pay cuts

St Mungo's strikers end 12-week strike

Telecoms workers angry at CWU deal with BT

GKN Birmingham workers rally against plant closure

Brush workers into eighth week of strike

Workplace round-up


International

New wave of radicalisation in Latin America

Putting the Olympic gravy train ahead of public health

Kazakhstan: Solidarity with protesters attacked by regime forces


News

Keep the Universal Credit uplift

Defend the triple lock - Fight to end poverty pensions

Wealth chasm widens

Right-wing study concludes youth like socialism


Campaigns

Youth Fight for Jobs is back

We need councillors who will end housing crisis - vote TUSC in Staines on 22 July

Stop Pimlico gentrification

Why I joined the Socialist Party

Everyone can spot Socialist Party in Stoke

Socialist Party meetings say: We're ready to go out and campaign


Readers' opinion

England football team

Farewell Leicester Square - the story of Britain's first black bus driver

Readers' comments


 

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Related links:

Wealth:

triangleTake the wealth off the super-rich to fund: NHS and social care, pay and benefit rises

triangleMillionaires multiply during pandemic

triangleHow to deal with the tax-dodging mega-rich? Nationalise!

triangleWould a wealth tax end poverty and inequality?

triangleWhere's the road map to jobs and wages Boris?

Rich:

triangleNHS and social care - make the rich pay, not the workers

triangleTower Hamlets Labour backs Tory cuts

triangleWhy I joined the Socialist Party

triangleJohnson's G7 hypocrisy

Pay:

triangleSocialists and the four-day week

triangleWorkers at 13 colleges to strike over pay

triangleMOJ pay deal accepted - we demand 10%

Covid:

triangleTax fraud could be over 20 billion annually

triangleTV Review - Help: Heart-wrenching portrayal of Covid care home crisis

Article dated 14 July 2021

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CWI rally, Sunday 26 September 2021, 14-00. Youtube.com/CWImedia

A CWI rally, Sunday 26 September 2021, 14-00. Youtube.com/CWImedia

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