It comes to something when its easier to go on strike in China than it is in good old Blighty. A post on CiF by Zhang Hong about a taxi driver's strike in Chongqing suggests that maybe its not quite as difficult to dissent in China as you might think. Of course, we all remember Tiananmen Square and what happened in 1989, and so it is assumed that trade union action must be so much tougher in China than here.
How about what is happening in the UK in 2008? We have seen the increasing deregulation of businesses and the private sector by New labour over the past decade. In fact, New Labour have done things with big business that would make David Cameron and the Tories blush. Before New Labour, the Labour Party always had an arms-length relationship with business. But, after eighteen years in the governmental wilderness New Labour, like an enthusiastic virgin bride, has given its all for Capitalism ever since May 1st 1997. Never was a wedding so enthusiastically consummated, and the love affair has continued unabated since.
New Labour has enthusiastically pursued the regulation of citizens as much as it has made certain that workers are prevented from defending their livelihoods. While Capitalists are allowed to do what they want through deregulation, workers and citizens are increasingly controlled and restricted by a reactionary, authoritarian government.
Just a reminder - the trade unions have bankrolled the Labour Party since they created it in 1900 to represent working people. And they still do even though now the party represents the interests of the Capitalist class. It was the Thatcher government that in the 1980's introduced legislation which restricted trade unions from taking industrial action. The legislation ensured that businesses had the upper hand and that workers were unable to support each other and show the solidarity which is crucial to workers power. Nothing has changed since. A decade of Labour government has favoured the interests of the Capitalist class against working people.
But maybe its time for change. As working people suffer from the excesses of the Capitalists and their credit crunch, maybe its time for UK workers to strike back. If taxi drivers in China can strike with impunity - so much more can we. Its time to ignore the repressive class war-based laws that restrict trade unionists in the UK and fight back to demand an end to restrictive anti-trade union legislation. As businesses, like Woolworths, fail, workers should take control of them just as they did in Argentina in the 1990s.
But let's make no mistake, We can't expect the trade union leaders who have continued to bankroll New Labour to support such action. They are as much the enemies of working people as New Labour are. Trade unionists are weak because they are on their knees. Let us rise!
Friday, 28 November 2008
Sunday, 9 November 2008
Money, money, money
I was going to call this post 'Money is bullshit' but decided against it because of my recent post called 'Hierarchy is bullshit'. But money, like hierarchy, as you'll see, is indeed bullshit. We think of money as being something that has real, intrinsic value, but it doesn't. It is just something we use for convenience, as a means of exchange. And just like the commodities we purchase with it, money can increase or decrease in value. Money, or its equivalent, has taken different forms in different times and in different societies, but given the financial crisis its worth looking at what money is today and how it is created.
Money, that is the paper notes and coins we use for day to day exchange, used to be backed by a commodity that had intrinsic (but variable) value - gold. This was known as the gold standard. In effect, the person issuing the money was saying - 'this note represents a certain amount of gold'. This system gave people confidence in the value of money and meant that there ought not to be more money in circulation than the value of gold to back it. The only way to increase the amount of money would be to obtain more gold. Things were not that simple however, because of wars and economic difficulties the gold standard became impossible to maintain. In the First World War Britain had to use fiat money to sustain the war effort, Britain finally left the gold standard in 1931 and other countries followed suit.
Fiat money, which is the system used globally nowadays, is money that, in effect, has a value because governments say it has - it must be accepted as a means of payment for goods and services. But where does this money come from? Well of course it is being coined and printed by governments. But new money is being created all the time from debt. This is explained simply and effectively in Paul Gringon's excellent animated video 'Money as Debt' which is essential viewing. In essence private banks are able to create money out of nothing. When you go in to a bank and ask for a £1000 loan you might expect that the bank is lending you money it has on deposit... but er.. no ... the bank is legally allowed to create that money out of nothing. A bank can lend you money it doesn't have, and charge you interest on it. Don't you just wish you could do that too?
There are a number of consequences of this debt driven system. One of the key one's is that it is unsustainable. The tendency, as you might imagine is for debt to grow over time, and with deregulation of the banks it has. But where does the money come from to pay the interest on all this debt? It comes from other debt, which in turn, has to have interest paid on it. hence the system cannot be sustained.
But what really matters about this is who really benefits from this set up? Its not difficult to guess! The fact is that we don't need this system of money. There are alternatives, for example at one time much of the money in circulation was created locally, and there is no reason why that can't happen again. In the Argentinian financial crisis millions of people used notes called creditos produced by community based organisations. All that is needed for money to have value is that people believe that it has. In practice any locally issued currency needs to be backed by goods and services otherwise it won't work. People also need to have confidence that any currency they use is well managed.
There are two key lessons here. The first is that global Capitalism is underpinned by a set of rules which work to the benefit of Capitalists and Capitalists alone. These rules, which make the Capitalist system possible, can and must be changed so that everybody benefits rather than the Capitalists. Secondly, there is nothing to stop us from creating our own monetary systems and thereby reducing the power and influence of the banks. Money, or the need to earn it is an essential mechanism for tying us into the Capitalist system. We need to create local economies backed by their own money systems in order to undermine the imperialist movement known as globalisation. As a first step, we can end the power of banks to create money from debt.
Footnote: Now we have front page confirmation of who is really running UK Plc. An article in Saturday's Guardian shows that Tesco boss Terry Leahy was instrumental in making the Monetary Policy Committee of the Bank of England give us a 1.5% interest rate cut. Thanks Terry. Not only does Tesco trouser £1 in every £8 we spend - it now sets our monetary policy. No doubt New Labour and the Tories will be thrilled - they want the country to be run by big business anyway. And you think you live in a democracy? - well you do - a Capitalist democracy, run by Capitalists like Terry, for Capitalists.
Money, that is the paper notes and coins we use for day to day exchange, used to be backed by a commodity that had intrinsic (but variable) value - gold. This was known as the gold standard. In effect, the person issuing the money was saying - 'this note represents a certain amount of gold'. This system gave people confidence in the value of money and meant that there ought not to be more money in circulation than the value of gold to back it. The only way to increase the amount of money would be to obtain more gold. Things were not that simple however, because of wars and economic difficulties the gold standard became impossible to maintain. In the First World War Britain had to use fiat money to sustain the war effort, Britain finally left the gold standard in 1931 and other countries followed suit.
Fiat money, which is the system used globally nowadays, is money that, in effect, has a value because governments say it has - it must be accepted as a means of payment for goods and services. But where does this money come from? Well of course it is being coined and printed by governments. But new money is being created all the time from debt. This is explained simply and effectively in Paul Gringon's excellent animated video 'Money as Debt' which is essential viewing. In essence private banks are able to create money out of nothing. When you go in to a bank and ask for a £1000 loan you might expect that the bank is lending you money it has on deposit... but er.. no ... the bank is legally allowed to create that money out of nothing. A bank can lend you money it doesn't have, and charge you interest on it. Don't you just wish you could do that too?
There are a number of consequences of this debt driven system. One of the key one's is that it is unsustainable. The tendency, as you might imagine is for debt to grow over time, and with deregulation of the banks it has. But where does the money come from to pay the interest on all this debt? It comes from other debt, which in turn, has to have interest paid on it. hence the system cannot be sustained.
But what really matters about this is who really benefits from this set up? Its not difficult to guess! The fact is that we don't need this system of money. There are alternatives, for example at one time much of the money in circulation was created locally, and there is no reason why that can't happen again. In the Argentinian financial crisis millions of people used notes called creditos produced by community based organisations. All that is needed for money to have value is that people believe that it has. In practice any locally issued currency needs to be backed by goods and services otherwise it won't work. People also need to have confidence that any currency they use is well managed.
There are two key lessons here. The first is that global Capitalism is underpinned by a set of rules which work to the benefit of Capitalists and Capitalists alone. These rules, which make the Capitalist system possible, can and must be changed so that everybody benefits rather than the Capitalists. Secondly, there is nothing to stop us from creating our own monetary systems and thereby reducing the power and influence of the banks. Money, or the need to earn it is an essential mechanism for tying us into the Capitalist system. We need to create local economies backed by their own money systems in order to undermine the imperialist movement known as globalisation. As a first step, we can end the power of banks to create money from debt.
Footnote: Now we have front page confirmation of who is really running UK Plc. An article in Saturday's Guardian shows that Tesco boss Terry Leahy was instrumental in making the Monetary Policy Committee of the Bank of England give us a 1.5% interest rate cut. Thanks Terry. Not only does Tesco trouser £1 in every £8 we spend - it now sets our monetary policy. No doubt New Labour and the Tories will be thrilled - they want the country to be run by big business anyway. And you think you live in a democracy? - well you do - a Capitalist democracy, run by Capitalists like Terry, for Capitalists.
Saturday, 8 November 2008
Hats off to Barak Obama
There has been so much wall to wall coverage of Barak Obama's sensational election victory that I wasn't going to mention it in my blog. But then I decided it was churlish not to - so well done Barak, very well done indeed - I was celebrating along with the rest - its a victory that gives us some hope after the dark days of the Bush presidency.
Much has also been said about the challenges facing the President Elect. The USA has 40 million people who live in dire poverty, millions without proper access to healthcare, a looming recession, a couple of wars, and possible environmental meltdown to deal with.
Whatever happens, I hope Obama fulfills his pledges on healthcare. For far too long the USA has been shamed by its appalling lack of health provision. Giving basic provision to all would cost $60 billion. Sounds pretty cheap compared to the $700 billion that Hank Paulson wants to give to Wall Street, and the estimated $70 billion Wall Street is planning to spend on bonuses in the coming year.
Much has also been said about the challenges facing the President Elect. The USA has 40 million people who live in dire poverty, millions without proper access to healthcare, a looming recession, a couple of wars, and possible environmental meltdown to deal with.
Whatever happens, I hope Obama fulfills his pledges on healthcare. For far too long the USA has been shamed by its appalling lack of health provision. Giving basic provision to all would cost $60 billion. Sounds pretty cheap compared to the $700 billion that Hank Paulson wants to give to Wall Street, and the estimated $70 billion Wall Street is planning to spend on bonuses in the coming year.
Donald trumps Alex
Now we see what the Scottish Nationalist Party are really made of. The news that the SNP government had given the go ahead to Donald Trump to build a luxury golf course and housing on the Aberdeenshire coast, threatening a Site of Special Scientific Interest (SSSI), drew condemnation and derision in equal measure.
So, this is what Alex Salmond has in mind for the future of an independent Scotland - grovelling to the rich for jobs. The only person who will really benefit from this development is er...Donald Trump, and the wealthy people who use the luxury resort. An important habitat will be endangered and the Scots will get more jobs cleaning rooms and serving drinks.
It would be nice to think that this crass decision influenced the outcome of the Glenrothes by-election. Although that is unlikely, its good to know that the SNP's bubble has finally burst and Alex Salmond's true colours have been shown. Its looking like an independent Scotland is going to become a haggis republic.
But Alex isn't on his own. So far have all the main political parties become willing stooges of Capitalists like Trump that we can be sure that New Labour, the Tories and Liberal Democrats would all have done exactly the same.
So, this is what Alex Salmond has in mind for the future of an independent Scotland - grovelling to the rich for jobs. The only person who will really benefit from this development is er...Donald Trump, and the wealthy people who use the luxury resort. An important habitat will be endangered and the Scots will get more jobs cleaning rooms and serving drinks.
It would be nice to think that this crass decision influenced the outcome of the Glenrothes by-election. Although that is unlikely, its good to know that the SNP's bubble has finally burst and Alex Salmond's true colours have been shown. Its looking like an independent Scotland is going to become a haggis republic.
But Alex isn't on his own. So far have all the main political parties become willing stooges of Capitalists like Trump that we can be sure that New Labour, the Tories and Liberal Democrats would all have done exactly the same.
Sunday, 2 November 2008
Hierarchy is bullshit
Ever thought about why we need bosses? I have, and I've never been able to understand why we need them. What are bosses for other than to earn more than us and tell us what to do? But we don't need anyone to tell us what to do, and we certainly don't need them to earn more than we do!
So why do we have them? Because its a great way of maintaining control and a great way of making us accept that we are worth less than we actually are. Now I guess some of us have worked for an inspirational boss at one time or another. But for every good boss there must be a least a dozen poor ones. They tend to range from the ones who just aren't up to it to those who are careerists, desperate to climb the greasy pole, who see each job as a stepping stone to the top, and of course some are just downright bullies.
So why do we put up with them? I'm not a psychologist but it's not too difficult to see why. We are socialised into it. As children we look up to our parents - the 'grown-ups' who comfort and protect us. Then we go to school and are trained to accept the authority of another grown up - the teacher.
When we finish education we are usually starting on the bottom rung of of the ladder in a large organisation. We accept that those who've been there longer than us and have more experience and prestige. So it seems natural that we defer to them. But is it? Respect should be earned - not taken for granted.
The system works well for those at the top as we have seen recently in the banking debacle. These top bods claim they are special people. Without them businesses and organisations wouldn't be run properly - but ...er were the banks run properly? More recently we have seen Mark Thompson, Director General of the BBC, floundering over the Ross and Brand debacle. Do we seriously think that no one could have handled it better? I doubt it.
So why do we tolerate these people? - especially when there is plenty of evidence that we just don't need them. Lets go back to the start of the century when there was an economic crisis in Argentina. Years of corruption and privatisation lead to a run on the banks. While the rich took their money and ran, ordinary Argentinians were left in the lurch, unable to access their bank accounts. Businesses went bust, and in many cases bosses just abandoned their businesses, making the workers jobless.
But many of the jobless refused to give up - they took over the abandoned businesses and kept them going. Many are still successful today, and still owned as worker co-operatives. Not all successful co-operative businesses start in this way though. The US company W L Gore and Associates is very successful, and it doesn't have any bosses. Don't believe me? Then read this article. You'll probably know the company because it makes Gore-Tex. In fact the The company topped the UK Sunday Times "100 Best Companies to Work For" list for 4 consecutive years, 2004–2007.
The hierarchy that surrounds us is manufactured bullshit. There is nothing natural or desirable about it. It is maintained because it suits the purposes of those at the top who cream off the wealth from society and require us to to accept less as a consequence. Attacks on this system are described as sour grapes or envy - but they would be wouldn't they? The most efficient and effective forms of organisation are cooperative and consensus-based. As I've posted elsewhere on this bog, cooperatives have a higher success rate than top-down companies, and they add much greater value to the communities they are based in. If we want our economy to work better we need a horizontal, collective democratic approach.
Postscript 08/11/08: I don't usually add anything to a posting but there is an interesting article on the front page of Guardian Work today by Don Tapscott about inter-generational attitudes to hierarchy that is worth reading. I searched the website but couldn't find it so I can't make a link. here is a brief quote:
"Too many organisations are still stuck in the old unproductive hierarchy, which divides worlds into the governors and the governed. Most people above the age of 40 accept this..... The goal in hierarchy is to move up, and have more people reporting to you"
Don believes that the 'net generation' have a different attitude to hierarchy - lets hope he is right.
So why do we have them? Because its a great way of maintaining control and a great way of making us accept that we are worth less than we actually are. Now I guess some of us have worked for an inspirational boss at one time or another. But for every good boss there must be a least a dozen poor ones. They tend to range from the ones who just aren't up to it to those who are careerists, desperate to climb the greasy pole, who see each job as a stepping stone to the top, and of course some are just downright bullies.
So why do we put up with them? I'm not a psychologist but it's not too difficult to see why. We are socialised into it. As children we look up to our parents - the 'grown-ups' who comfort and protect us. Then we go to school and are trained to accept the authority of another grown up - the teacher.
When we finish education we are usually starting on the bottom rung of of the ladder in a large organisation. We accept that those who've been there longer than us and have more experience and prestige. So it seems natural that we defer to them. But is it? Respect should be earned - not taken for granted.
The system works well for those at the top as we have seen recently in the banking debacle. These top bods claim they are special people. Without them businesses and organisations wouldn't be run properly - but ...er were the banks run properly? More recently we have seen Mark Thompson, Director General of the BBC, floundering over the Ross and Brand debacle. Do we seriously think that no one could have handled it better? I doubt it.
So why do we tolerate these people? - especially when there is plenty of evidence that we just don't need them. Lets go back to the start of the century when there was an economic crisis in Argentina. Years of corruption and privatisation lead to a run on the banks. While the rich took their money and ran, ordinary Argentinians were left in the lurch, unable to access their bank accounts. Businesses went bust, and in many cases bosses just abandoned their businesses, making the workers jobless.
But many of the jobless refused to give up - they took over the abandoned businesses and kept them going. Many are still successful today, and still owned as worker co-operatives. Not all successful co-operative businesses start in this way though. The US company W L Gore and Associates is very successful, and it doesn't have any bosses. Don't believe me? Then read this article. You'll probably know the company because it makes Gore-Tex. In fact the The company topped the UK Sunday Times "100 Best Companies to Work For" list for 4 consecutive years, 2004–2007.
The hierarchy that surrounds us is manufactured bullshit. There is nothing natural or desirable about it. It is maintained because it suits the purposes of those at the top who cream off the wealth from society and require us to to accept less as a consequence. Attacks on this system are described as sour grapes or envy - but they would be wouldn't they? The most efficient and effective forms of organisation are cooperative and consensus-based. As I've posted elsewhere on this bog, cooperatives have a higher success rate than top-down companies, and they add much greater value to the communities they are based in. If we want our economy to work better we need a horizontal, collective democratic approach.
Postscript 08/11/08: I don't usually add anything to a posting but there is an interesting article on the front page of Guardian Work today by Don Tapscott about inter-generational attitudes to hierarchy that is worth reading. I searched the website but couldn't find it so I can't make a link. here is a brief quote:
"Too many organisations are still stuck in the old unproductive hierarchy, which divides worlds into the governors and the governed. Most people above the age of 40 accept this..... The goal in hierarchy is to move up, and have more people reporting to you"
Don believes that the 'net generation' have a different attitude to hierarchy - lets hope he is right.
Friday, 31 October 2008
Capitalist's snouts are still firmly in the trough
One of the more amazing features of the financial crisis is the fact that bank executives and staff still see their inflated salaries and bonuses as sacrosanct. Despite the fact that they have failed, and have been bailed out by the taxpayer its bonus business as usual.
The World at One on Radio four reported today that Barclays Bank had done a deal with Arab wealth funds to take on an extra £7.3 billion in capital. The government had offered Barclays a capital injection just two weeks ago at 12% which was reckoned to be a fairly punitive rate. But Barclays is taking the Arab cash at 16%! Why? - so they can avoid any potential curbs on bonuses and fat payouts. This beggars belief. Barclay's customers and shareholders are being taken for a massive ride.
On the same day Naomi Klein reports in the Guardian that chunks of the $700 billion bailout cash offered up by the Bush regime in the USA appears to be heading for executive pockets, and Citigroup is planning to spend $25 billion of the bailout cash buying other banks - how nice for them!
At this rate, we might as well just hand over the billions of taxpayers cash to the rich and let them get on with it - and all this at a time when thousands of taxpayers are losing their jobs and having homes repossesed.
So what does this tell us about global Capitalism? Well its clear that the Capitalists are in charge. Governments are either too weak or too complicit in all this to be able to stand up to the Capitalists. The function of governments and the rest of us is just to make them very rich. And while they party and ravage the planet we are supposed to look on in awe.
Karl Marx wrote about this nearly 150 years ago in a book called Das Kapital. Nothing much, it seems, has changed since. As for the capitalists their attitute, like Marie Antoinette's, seems to be - 'let them eat cake'. But we all know what happened to her don't we?
The World at One on Radio four reported today that Barclays Bank had done a deal with Arab wealth funds to take on an extra £7.3 billion in capital. The government had offered Barclays a capital injection just two weeks ago at 12% which was reckoned to be a fairly punitive rate. But Barclays is taking the Arab cash at 16%! Why? - so they can avoid any potential curbs on bonuses and fat payouts. This beggars belief. Barclay's customers and shareholders are being taken for a massive ride.
On the same day Naomi Klein reports in the Guardian that chunks of the $700 billion bailout cash offered up by the Bush regime in the USA appears to be heading for executive pockets, and Citigroup is planning to spend $25 billion of the bailout cash buying other banks - how nice for them!
At this rate, we might as well just hand over the billions of taxpayers cash to the rich and let them get on with it - and all this at a time when thousands of taxpayers are losing their jobs and having homes repossesed.
So what does this tell us about global Capitalism? Well its clear that the Capitalists are in charge. Governments are either too weak or too complicit in all this to be able to stand up to the Capitalists. The function of governments and the rest of us is just to make them very rich. And while they party and ravage the planet we are supposed to look on in awe.
Karl Marx wrote about this nearly 150 years ago in a book called Das Kapital. Nothing much, it seems, has changed since. As for the capitalists their attitute, like Marie Antoinette's, seems to be - 'let them eat cake'. But we all know what happened to her don't we?
Tuesday, 28 October 2008
What is responsible for this pandemic of illness?
Are you overweight? Could do with losing a few pounds? I am. I suffer from the dreaded middle age spread - which has accelerated since I stopped smoking a few years ago. I now find that I am suffering from type II diabetes. Diabetes is a chronic illness, and one that can can have severe consequences - heart disease, blindness, impotence - need I go on?
It is estimated that two million adults in the UK suffer from type II diabetes and there are at least half a million who are undiagnosed. So what happens next? We are exhorted to lose weight - easier said than done for many people. Overweight people are stigmatised - just like smokers have been. Its your fault fatty!
But is it your fault? Two important pieces of recent scientific research suggest otherwise. They suggest that this pandemic may have been caused by environmental pollution. Firstly, an article published in The Independent on obesity describes research that shows obesity is caused by pesticides. It has long been known that pesticides, even in low concentrations, have potentially harmful effects. Pesticides such as organochlorides - DDT, dieldrin etc - have effects which are oestrogenic - they behave like female hormones and have effects on humans at very low levels. This research is not a one-off. The link between industrial pollutants and obesity was exposed in The Ecologist magazine in November 2006
Secondly, new research suggests that bisphenol A, a chemical commonly found in plastics - such as food packaging - can cause Type II diabetes.
So, could the obesity/type II diabetes pandemic have been caused by environmental pollution? I believe it is highly likely that environmental pollution is a contributory factor, and not just because I find it difficult to lose weight. Its because I have background in molecular biology and an understanding of how these things work.
Yes, its complex. Yes, its difficult to prove cause and effect, especially when these pollutants are present in very low concentrations. But they are present in all of us. We still have DDT in our bodies even though it was banned about thirty years ago. Its much easier just to blame people for being fat, especially when we know that we eat too much, and don't get enough exercise.
But lets not underestimate the fact that the environment we live in is contaminated with chemicals which can have a significant effect on us even at low concentrations. Its important to understand that scientific studies of the effects of such chemicals are flawed. Why? for two main reasons: One - the dose-response studies that scientists use to test toxicity of chemicals are carried out mostly in rats - not humans; Two - at very low concentrations of many chemicals a response cannot be detected - because it cannot be detected it does not mean there is no effect. Nor are long term, or chronic, human effects studied
I intend to lose weight. But I do recognise that the condition I suffer from could be caused by environmental pollution - as well as diet and lifestyle. Why is this post in my blog? Because it is a log about environmental justice - pesticides and plasticisers like bisphenol A are used to make profits. Corporations will defend there use just as they did with DDT until someone can prove that they are harmful.
Obesity and type II diabetes are the pandemics of the current age. What will be the pandemics of the age of GM technology? But then that's safe as well isn't it?
It is estimated that two million adults in the UK suffer from type II diabetes and there are at least half a million who are undiagnosed. So what happens next? We are exhorted to lose weight - easier said than done for many people. Overweight people are stigmatised - just like smokers have been. Its your fault fatty!
But is it your fault? Two important pieces of recent scientific research suggest otherwise. They suggest that this pandemic may have been caused by environmental pollution. Firstly, an article published in The Independent on obesity describes research that shows obesity is caused by pesticides. It has long been known that pesticides, even in low concentrations, have potentially harmful effects. Pesticides such as organochlorides - DDT, dieldrin etc - have effects which are oestrogenic - they behave like female hormones and have effects on humans at very low levels. This research is not a one-off. The link between industrial pollutants and obesity was exposed in The Ecologist magazine in November 2006
Secondly, new research suggests that bisphenol A, a chemical commonly found in plastics - such as food packaging - can cause Type II diabetes.
So, could the obesity/type II diabetes pandemic have been caused by environmental pollution? I believe it is highly likely that environmental pollution is a contributory factor, and not just because I find it difficult to lose weight. Its because I have background in molecular biology and an understanding of how these things work.
Yes, its complex. Yes, its difficult to prove cause and effect, especially when these pollutants are present in very low concentrations. But they are present in all of us. We still have DDT in our bodies even though it was banned about thirty years ago. Its much easier just to blame people for being fat, especially when we know that we eat too much, and don't get enough exercise.
But lets not underestimate the fact that the environment we live in is contaminated with chemicals which can have a significant effect on us even at low concentrations. Its important to understand that scientific studies of the effects of such chemicals are flawed. Why? for two main reasons: One - the dose-response studies that scientists use to test toxicity of chemicals are carried out mostly in rats - not humans; Two - at very low concentrations of many chemicals a response cannot be detected - because it cannot be detected it does not mean there is no effect. Nor are long term, or chronic, human effects studied
I intend to lose weight. But I do recognise that the condition I suffer from could be caused by environmental pollution - as well as diet and lifestyle. Why is this post in my blog? Because it is a log about environmental justice - pesticides and plasticisers like bisphenol A are used to make profits. Corporations will defend there use just as they did with DDT until someone can prove that they are harmful.
Obesity and type II diabetes are the pandemics of the current age. What will be the pandemics of the age of GM technology? But then that's safe as well isn't it?
Sunday, 19 October 2008
Its the environment stupid!
As we slide into a recession, one or two commentators such as George Monbiot have been doing us a service by reminding us that the credit crunch is trivial compared to what is potentially facing us in terms of a climate crunch.
In August I highlighted a report from the New Economics Foundation which stated that we had just 100 months to avert rising temperatures and runaway climate change - 98 months now! There is an increasing sense of urgency about our need to do something about this, and the recent pledge by the government to make an 80% cut in greenhouse gas emissions by 2050 is encouraging. Problem is, they have a lousy track record of delivery on such pledges - they are too wedded to big business and consumption.
In any case, we can't make big enough cuts unless everyone is involved - and that means you! And yes it means insulating your house, using low energy light bulbs, turning the central heating down, putting a jumper on, car sharing, dusting off your bike lights and cycling to work if you can. You have heard it all before but now is the time to get on with doing it and encouraging other in your local community to do so also.
I am working with a nearby local action group and trying to set up a group in the village I live in. In Cheshire, we have the example of Ashton Hayes, which aims to be the first village in England to become carbon neutral. Since starting in January 2006 they have cut their carbon emissions by 21%. You can get help in doing this from the Low Carbon Communities Network. If you have a local group - get involved. I have only just started but I'll keep you informed of progress. So far I have contacted the Parish Council and will speak at their next meeting to try and get their support. I've put a poster on the village notice board, and have an article coming out in next weeks local paper.
But this isn't just about climate change. Also of great significance is Peak Oil. Its worth quoting the definition from Wikipedia:
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline.
There is some disagreement about when peak oil occurred. Some people say 2007 others as long ago as 2005. But there is a consensus that we have passed peak oil. Just think for a moment what this means - a world without oil means massive changes in the way we live and there is no substitute, no magic technological fix on offer. We are going to go through what is known as an energy descent. And it is going to happen in our lifetimes. We are going to have to get used to living in a lower energy environment. And that means making the same kind of adjustments we would have to make for climate change anyway.
So, the local group I am trying to set up is not just about climate change because climate change adjustments to our lifestyle and peak oil adjustments go hand in hand. If you want to find out more I suggest you take a look at what Caroline Lucas had to say about the Transition Handbook by Rob Hopkins.
We need to see theses changes as an opportunity rather than a threat. An opportunity to connect with our neighbours and build sustainable communities, communities free from the destructive excesses of free market capitalism,
In August I highlighted a report from the New Economics Foundation which stated that we had just 100 months to avert rising temperatures and runaway climate change - 98 months now! There is an increasing sense of urgency about our need to do something about this, and the recent pledge by the government to make an 80% cut in greenhouse gas emissions by 2050 is encouraging. Problem is, they have a lousy track record of delivery on such pledges - they are too wedded to big business and consumption.
In any case, we can't make big enough cuts unless everyone is involved - and that means you! And yes it means insulating your house, using low energy light bulbs, turning the central heating down, putting a jumper on, car sharing, dusting off your bike lights and cycling to work if you can. You have heard it all before but now is the time to get on with doing it and encouraging other in your local community to do so also.
I am working with a nearby local action group and trying to set up a group in the village I live in. In Cheshire, we have the example of Ashton Hayes, which aims to be the first village in England to become carbon neutral. Since starting in January 2006 they have cut their carbon emissions by 21%. You can get help in doing this from the Low Carbon Communities Network. If you have a local group - get involved. I have only just started but I'll keep you informed of progress. So far I have contacted the Parish Council and will speak at their next meeting to try and get their support. I've put a poster on the village notice board, and have an article coming out in next weeks local paper.
But this isn't just about climate change. Also of great significance is Peak Oil. Its worth quoting the definition from Wikipedia:
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline.
There is some disagreement about when peak oil occurred. Some people say 2007 others as long ago as 2005. But there is a consensus that we have passed peak oil. Just think for a moment what this means - a world without oil means massive changes in the way we live and there is no substitute, no magic technological fix on offer. We are going to go through what is known as an energy descent. And it is going to happen in our lifetimes. We are going to have to get used to living in a lower energy environment. And that means making the same kind of adjustments we would have to make for climate change anyway.
So, the local group I am trying to set up is not just about climate change because climate change adjustments to our lifestyle and peak oil adjustments go hand in hand. If you want to find out more I suggest you take a look at what Caroline Lucas had to say about the Transition Handbook by Rob Hopkins.
We need to see theses changes as an opportunity rather than a threat. An opportunity to connect with our neighbours and build sustainable communities, communities free from the destructive excesses of free market capitalism,
Sunday, 12 October 2008
Time to take full control of the banking sector
So. One of the great architects of free-market failure, Gordon Brown, is now claiming to have found the solution. The £500 billion bail out plan, which he hopes will be copied around the world, didn't exactly get off to a spectacular start, and the markets are still falling. The plan is unlikely to work because there are still huge losses to unwind and no one knows who is holding them.
But Gordon isn't trying to reform the corrupt system of greed which threatens to undo all our livelihoods, he is trying to preserve it. Will people stand for this? I don't think so. Already we are seeing more jobs losses and people are beginning to see the value of their pensions fall. The guilty have no place to hide and there is a lot of anger about. In the near future things can only get worse.
Instead of bailing out the banks we should be taking full control of them. We need to lower interest rates quickly - the 0.5% cut was too little too late. We must also nationalise some of the companies which are in danger of going under (and no I don't mean Karen Millen) and we need to help those who are threatened with repossession by the government taking over their mortgages and charging them rent. Local authorities must also be protected. But this just for starters. Then we need to start looking at economic renewal and that is where the Green New Deal comes in. The GND will not only create much needed jobs, but set us on the road to tackling climate change. Its interesting that the United Nations has now jumped on the GND bandwagon with proposals of its own.
The problem is that there is nowhere for people to channel their anger. We have the three main political parties - all supine adherents to the status quo. We have the trade unions - still stupidly tied to New labour. The Green Party is too small at the moment to be able make a significant impact. Other parties of the left have little influence or support. On top of this there is the general disillusionment with politics, because people don't think it can change anything.
People who would at one time have joined parties of the left are now putting their energy into changing things at a local level. There is a lot of local green activism around climate change and peak oil. At a meeting I attended on Monday, people from a small community (a housing estate) were working to strengthen and enhance their local area, and protect it from climate change and peak oil. They discussed all sorts of initiatives around reducing energy and water use. Their commitment, imagination, organisation and resourcefulness was impressive. They are changing things themselves because the government is failing them.
In the short term the only group who could make a significant difference are the trade unions. They should withhold all funding from New Labour until they have guarantees on bank nationalisation, protecting local authorities, regulation of the financial sector, and help for those facing repossession. What the trade unions really need to do is split the labour party, kicking out Brown and the Blairites, but there is little danger of that happeniing. But after the next election who knows? Aside from this there is still time and scope for a significant political shift to happen before the next election. What we need is a party of the left who can collect that vote. The only option for that at the moment is the Green Party.
But Gordon isn't trying to reform the corrupt system of greed which threatens to undo all our livelihoods, he is trying to preserve it. Will people stand for this? I don't think so. Already we are seeing more jobs losses and people are beginning to see the value of their pensions fall. The guilty have no place to hide and there is a lot of anger about. In the near future things can only get worse.
Instead of bailing out the banks we should be taking full control of them. We need to lower interest rates quickly - the 0.5% cut was too little too late. We must also nationalise some of the companies which are in danger of going under (and no I don't mean Karen Millen) and we need to help those who are threatened with repossession by the government taking over their mortgages and charging them rent. Local authorities must also be protected. But this just for starters. Then we need to start looking at economic renewal and that is where the Green New Deal comes in. The GND will not only create much needed jobs, but set us on the road to tackling climate change. Its interesting that the United Nations has now jumped on the GND bandwagon with proposals of its own.
The problem is that there is nowhere for people to channel their anger. We have the three main political parties - all supine adherents to the status quo. We have the trade unions - still stupidly tied to New labour. The Green Party is too small at the moment to be able make a significant impact. Other parties of the left have little influence or support. On top of this there is the general disillusionment with politics, because people don't think it can change anything.
People who would at one time have joined parties of the left are now putting their energy into changing things at a local level. There is a lot of local green activism around climate change and peak oil. At a meeting I attended on Monday, people from a small community (a housing estate) were working to strengthen and enhance their local area, and protect it from climate change and peak oil. They discussed all sorts of initiatives around reducing energy and water use. Their commitment, imagination, organisation and resourcefulness was impressive. They are changing things themselves because the government is failing them.
In the short term the only group who could make a significant difference are the trade unions. They should withhold all funding from New Labour until they have guarantees on bank nationalisation, protecting local authorities, regulation of the financial sector, and help for those facing repossession. What the trade unions really need to do is split the labour party, kicking out Brown and the Blairites, but there is little danger of that happeniing. But after the next election who knows? Aside from this there is still time and scope for a significant political shift to happen before the next election. What we need is a party of the left who can collect that vote. The only option for that at the moment is the Green Party.
My week
I've always been slightly bemused by commentators who seem to think if I'm blogging I'm wasting valuable time during which I should be actively changing the world. I've been accused of being an (self-confessed!) armchair middle class socialist and far worse. Karen invited me to attend a Manchester Rally on Thursday. I couldn't make it. Why? Because I wanted a night off. I fulfilled all the other commitments which I already had planned.
On Monday night I went to a local climate change action group meeting; Tuesday night was my regular weekly music lesson; On Wednesday I was in Bristol on business and Friday I traveled to Bradford for a weekend Unison seminar, from which I returned on Sunday morning. Only on Thursday night did I spend anytime in my well padded self indulgent socialist armchair. While all this was going on I was working to try and get West Cheshire Green Party off the ground.
Will this be enough to appease the critics? I doubt it. If you want to know, I didn't find the seminar very inspiring. But I did find a great pub - the Shoulder of Mutton - its Sam Smiths, has great organic lager and a lovely pint of bitter for just £1.47. So the trip was worthwhile. How was your week?
On Monday night I went to a local climate change action group meeting; Tuesday night was my regular weekly music lesson; On Wednesday I was in Bristol on business and Friday I traveled to Bradford for a weekend Unison seminar, from which I returned on Sunday morning. Only on Thursday night did I spend anytime in my well padded self indulgent socialist armchair. While all this was going on I was working to try and get West Cheshire Green Party off the ground.
Will this be enough to appease the critics? I doubt it. If you want to know, I didn't find the seminar very inspiring. But I did find a great pub - the Shoulder of Mutton - its Sam Smiths, has great organic lager and a lovely pint of bitter for just £1.47. So the trip was worthwhile. How was your week?
Wednesday, 1 October 2008
What is the value of a Nobel prize?
Its interesting to note that its possible to obtain a Nobel prize in economics without taking into account the realities of Capitalism. See this comment on the latest shenanigans by congress on the bail out of wall street by Joseph Stiglitz on CiF. Joseph Stiglitz is well meaning but where he goes wrong is by believing you can control Capitalism and protect people against its worst excesses.
History shows that you can't - that's why half the worlds population are living in dire poverty - three billion on $2 a day or less. Ordinary people create wealth. Capitalists expropriate that wealth for themselves, leaving a few crumbs behind. Capitalists have no interest in providing pensions, holidays, health, & welfare because that all eats into their (sic) profits. All the gains we have made in the west have historically come from democratic and trade union activity - i.e. we have taken back from the Capitalists some of the wealth we created in the first place! - in the form of pensions etc.That is why (some of us) have a reasonable standard of living - but they still keep the lions share. While the Soviet Union existed it suited Capitalists to keep us 'on-side' by allowing us to keep the benefits we had won from then.
Now the USSR has gone and there is(allegedly) no serious alternative threat they are determined to reverse the gains we made. Hence privatisation and deregulation - making us work harder for them - for less. The end result of this process will be third world levels of poverty in the USA and Europe - for most of us - if we don't stop it from happening. The truth is we need Capitalism like a hole in the head because it is Capitalism that makes us poor. What we need to do is keep the wealth we make for ourselves - i.e. by ending Capitalism as an economic system. That is what Socialism is really all about - not nationalisation - that is just one option for an alternative economy.
Capitalists want us to think that Capitalism is part of the natural order of things like gravity - it isn't. Its a system which is artificially maintained by a set of rules, and the rules are made by Capitalists - so no wonder it works for them! The wealth you have is something you (and you forbears) have had to fight Capitalists for - whether through the ballot box or industrial action.
History shows that you can't - that's why half the worlds population are living in dire poverty - three billion on $2 a day or less. Ordinary people create wealth. Capitalists expropriate that wealth for themselves, leaving a few crumbs behind. Capitalists have no interest in providing pensions, holidays, health, & welfare because that all eats into their (sic) profits. All the gains we have made in the west have historically come from democratic and trade union activity - i.e. we have taken back from the Capitalists some of the wealth we created in the first place! - in the form of pensions etc.That is why (some of us) have a reasonable standard of living - but they still keep the lions share. While the Soviet Union existed it suited Capitalists to keep us 'on-side' by allowing us to keep the benefits we had won from then.
Now the USSR has gone and there is(allegedly) no serious alternative threat they are determined to reverse the gains we made. Hence privatisation and deregulation - making us work harder for them - for less. The end result of this process will be third world levels of poverty in the USA and Europe - for most of us - if we don't stop it from happening. The truth is we need Capitalism like a hole in the head because it is Capitalism that makes us poor. What we need to do is keep the wealth we make for ourselves - i.e. by ending Capitalism as an economic system. That is what Socialism is really all about - not nationalisation - that is just one option for an alternative economy.
Capitalists want us to think that Capitalism is part of the natural order of things like gravity - it isn't. Its a system which is artificially maintained by a set of rules, and the rules are made by Capitalists - so no wonder it works for them! The wealth you have is something you (and you forbears) have had to fight Capitalists for - whether through the ballot box or industrial action.
Saturday, 20 September 2008
After the debacle ....the whitewash begins
Well, what a momentous week! It started with the 'invincible' Lehman Brothers going bust and moved on through AIG and HBOS, not to mention Merrill Lynch and Goldman Sachs - both of which are still reputed to be in trouble.
But it gets even better because after the $200 billion bail out of Fannie Mae and Freddie Mac we now have the US government planning to buy up all those toxic mortgages to the tune of $700 billion dollars! How they have managed to come up with that figure I don't know, but it may be more, just as Lloyds TSB's takeover of HBOS my yet run into difficulties. That makes George W Bush just about the biggest socialist in history. Of course American citizens are right to be worried about where all this is going to lead. We are not out of the woods yet.
In the UK, Robert Peston the BBC's Business Editor said - "The UK's unsustainable economic dependence on the City and financial services is coming home to roost." But who has been Chancellor for most of that period? None other than Prime Minister Gordon himself. And Gordon has been hamming it up this week trying to absolve himself of any blame. In fact, he is trying to take the credit for the buy out of HBOS by Lloyds TSB, something which may well yet rebound on him. But lets look at what Gordon has done since the collapse of Northern Rock a whole year ago .... er ... exactly zip, zilch, zer0 ... er ..... one big fat NOTHING. Only now, after the wheels have finally come off, has Gordon, on the eve of a Labour Party conference, said he will do what it takes to sort out the mess. Oh, well, that's alright then.
You can bet Bush, Blair. Brown, Bernanke, McCain, Greenspan et al will all be doing their level best in the coming months to airbrush their role in this debacle out of history. But if the panelists of BBC Radio Four's Any Questions have their way it will be a very easy task. When Friday's panel was asked whose fault the meltdown of the financial system was - Bridget Roswell, who, apparently, is an economist, said that it was the "fault of all of us". Well thank you Bridget, now we know. It was our fault that thousands of dodgy mortgages were sold in the USA (and UK), it was our fault that governments did the bankers bidding and deregulated the financial system , and it was our fault that regulators did nothing. Now I guess it is 'our fault' that we are having to stump up billions of taxpayers money to prop up the fat cats. Of course non of the other panelists, including Menzies Campbell, had either the guts or gumption to challenge Bridget's erroneous view. No Bridget, it wasn't 'our' fault it was the fault of the aforementioned individuals, the fat cats of Capitalism and their flunkeys.
I tell you what - it is our fault, though. It is our fault that we have tolerated the politicians and financiers that have lead us into this mess. Its time for change. Join the Green Party and help make that change happen.
But it gets even better because after the $200 billion bail out of Fannie Mae and Freddie Mac we now have the US government planning to buy up all those toxic mortgages to the tune of $700 billion dollars! How they have managed to come up with that figure I don't know, but it may be more, just as Lloyds TSB's takeover of HBOS my yet run into difficulties. That makes George W Bush just about the biggest socialist in history. Of course American citizens are right to be worried about where all this is going to lead. We are not out of the woods yet.
In the UK, Robert Peston the BBC's Business Editor said - "The UK's unsustainable economic dependence on the City and financial services is coming home to roost." But who has been Chancellor for most of that period? None other than Prime Minister Gordon himself. And Gordon has been hamming it up this week trying to absolve himself of any blame. In fact, he is trying to take the credit for the buy out of HBOS by Lloyds TSB, something which may well yet rebound on him. But lets look at what Gordon has done since the collapse of Northern Rock a whole year ago .... er ... exactly zip, zilch, zer0 ... er ..... one big fat NOTHING. Only now, after the wheels have finally come off, has Gordon, on the eve of a Labour Party conference, said he will do what it takes to sort out the mess. Oh, well, that's alright then.
You can bet Bush, Blair. Brown, Bernanke, McCain, Greenspan et al will all be doing their level best in the coming months to airbrush their role in this debacle out of history. But if the panelists of BBC Radio Four's Any Questions have their way it will be a very easy task. When Friday's panel was asked whose fault the meltdown of the financial system was - Bridget Roswell, who, apparently, is an economist, said that it was the "fault of all of us". Well thank you Bridget, now we know. It was our fault that thousands of dodgy mortgages were sold in the USA (and UK), it was our fault that governments did the bankers bidding and deregulated the financial system , and it was our fault that regulators did nothing. Now I guess it is 'our fault' that we are having to stump up billions of taxpayers money to prop up the fat cats. Of course non of the other panelists, including Menzies Campbell, had either the guts or gumption to challenge Bridget's erroneous view. No Bridget, it wasn't 'our' fault it was the fault of the aforementioned individuals, the fat cats of Capitalism and their flunkeys.
I tell you what - it is our fault, though. It is our fault that we have tolerated the politicians and financiers that have lead us into this mess. Its time for change. Join the Green Party and help make that change happen.
Wednesday, 17 September 2008
New Labour's free market economic disaster
At the weekend we had Lehman Brothers going bust , then AIG having a $85 billion handout from the US Government and today HBOS merging with Lloyds TSB. In the latter case the government has been bending over backwards to avoid having to pay out for another Northern Rock, even to the extent of breaking competition rules. So the new British banking behemoth will have 28% of the mortgage market - good for customers eh?
But lets not forget that although much of the credit crunch originated in the USA, New Labour has a lot to answer for. And who was Chancellor while the conditions for the crunch were being created? - none other than Gordon Brown. Mr 'prudence', who claimed to have eliminated boom and bust, has now lead us into the biggest bust since 1929. The 'sound' economy he created over here was based on a housing boom and ballooning credit. That is economic mismanagement. Notice that the biggest casualties in all this are the USA and UK - the cheerleaders for free market deregulation and privatisation. Do you hear of a housing collapse in Germany or France - no - they follow the European Social model much despised by Gordon Brown.
Blair and Brown encouraged the City-lead deregulatory financial model that got us into this mess in the first place and turned the UK into a tax haven for non doms and other tax dodgers. Well now the chickens have come home to roost. If Brown had any integrity he'd resign and if his party had any guts they'd sack him. Sadly, neither is likely to happen.
But lets not forget that although much of the credit crunch originated in the USA, New Labour has a lot to answer for. And who was Chancellor while the conditions for the crunch were being created? - none other than Gordon Brown. Mr 'prudence', who claimed to have eliminated boom and bust, has now lead us into the biggest bust since 1929. The 'sound' economy he created over here was based on a housing boom and ballooning credit. That is economic mismanagement. Notice that the biggest casualties in all this are the USA and UK - the cheerleaders for free market deregulation and privatisation. Do you hear of a housing collapse in Germany or France - no - they follow the European Social model much despised by Gordon Brown.
Blair and Brown encouraged the City-lead deregulatory financial model that got us into this mess in the first place and turned the UK into a tax haven for non doms and other tax dodgers. Well now the chickens have come home to roost. If Brown had any integrity he'd resign and if his party had any guts they'd sack him. Sadly, neither is likely to happen.
Sunday, 14 September 2008
We do not need GM technology to feed the world
A recent report has highlighted the fact that while enough food is being produced to feed the world's population 800 million people are still going hungry. The report, based on the findings of 400 scientists from around the world, and chaired by professor Robert Watson, the government's Chief Scientific Adviser at the Department of the Environment, Food and Rural Affairs, also concluded that GM technology was not the answer to feeding the world's population.
Not surprisingly, these conclusions have not gone down at all well with agribusiness corporations like Monsanto. They don't want to feed the world, they want to make huge profits by controlling the food chain with GM technology which effectively puts the farmers, and the crops they produce, in their pockets. That is why the GM companies have been buying up traditional seed companies - they want to monopolise world markets. If they succeed you will end up with no choice other than to eat GM, unless you can source food locally. But if GM is used here in the UK it is unlikely that non GM agriculture would remain uncontaminated.
GM technology is a pig in poke. We are told it increases yield but there is little concrete evidence to support this. In fact there is evidence that GM reduces yield. GM crops are a vast unregulated gamble. We don't know what the possible long terms effects on the environment or harm to human health could be. There are a number of potential dangers such as harm to human health and damage to biodiversity and environmental systems.
The simple fact is that we don't need GM to feed the world. So why take the gamble - especially when the main beneficiaries are large corporations and their shareholders - not the poor or the hungry.
Not surprisingly, these conclusions have not gone down at all well with agribusiness corporations like Monsanto. They don't want to feed the world, they want to make huge profits by controlling the food chain with GM technology which effectively puts the farmers, and the crops they produce, in their pockets. That is why the GM companies have been buying up traditional seed companies - they want to monopolise world markets. If they succeed you will end up with no choice other than to eat GM, unless you can source food locally. But if GM is used here in the UK it is unlikely that non GM agriculture would remain uncontaminated.
GM technology is a pig in poke. We are told it increases yield but there is little concrete evidence to support this. In fact there is evidence that GM reduces yield. GM crops are a vast unregulated gamble. We don't know what the possible long terms effects on the environment or harm to human health could be. There are a number of potential dangers such as harm to human health and damage to biodiversity and environmental systems.
The simple fact is that we don't need GM to feed the world. So why take the gamble - especially when the main beneficiaries are large corporations and their shareholders - not the poor or the hungry.
Thursday, 11 September 2008
Brown provides too little too late....again
Many people were disappointed when the government announced a stamp duty holiday for properties costing up to £175,000. It was rightly denounced as too little too late to stimulate the housing market and help first-time buyers.
Now we have the latest gem from Gordon - £910 million for household insulation to tackle fuel poverty. £560 million of which is old money. We also know that the work to insulate all the houses of the 'fuel poor' can't be done before winter. Which means the old and the poor are likely to freeze. Meanwhile the energy companies are making billions in extra profits and laughing all the way to the government bailed out bank. Much of the extra cash that they are making is going where you would expect - straight into the pockets of shareholders. The energy suppliers paid £1.64bn in dividends in 2007 - £257m more than the year before.
Caroline Lucas, Green Party Leader, has called for a windfall tax - she wrote:-
"When the fuel crisis started to bite, a strong leader would have set their sights on achieving energy independence. Instead, our prime minister went running to the profiteers-in-chief to beg for just enough more oil to keep us dependent. Just three of these companies – BP, Centrica, and Shell – together made £1000 profit every second over the first 6 months of this year. Every penny that the oil price inches up, is a new surge of cash from the pockets of working families, students, the elderly and the disabled, directly into the bank accounts of the world's petro-giants."
It's unlikely that Gordon Brown, who is deeply committed to protecting the interests of big business, will be shifted on a windfall tax. But his obstinacy in the face of the overwhelming case for such a tax might just result in him finally being shifted out of office.
Now we have the latest gem from Gordon - £910 million for household insulation to tackle fuel poverty. £560 million of which is old money. We also know that the work to insulate all the houses of the 'fuel poor' can't be done before winter. Which means the old and the poor are likely to freeze. Meanwhile the energy companies are making billions in extra profits and laughing all the way to the government bailed out bank. Much of the extra cash that they are making is going where you would expect - straight into the pockets of shareholders. The energy suppliers paid £1.64bn in dividends in 2007 - £257m more than the year before.
Caroline Lucas, Green Party Leader, has called for a windfall tax - she wrote:-
"When the fuel crisis started to bite, a strong leader would have set their sights on achieving energy independence. Instead, our prime minister went running to the profiteers-in-chief to beg for just enough more oil to keep us dependent. Just three of these companies – BP, Centrica, and Shell – together made £1000 profit every second over the first 6 months of this year. Every penny that the oil price inches up, is a new surge of cash from the pockets of working families, students, the elderly and the disabled, directly into the bank accounts of the world's petro-giants."
It's unlikely that Gordon Brown, who is deeply committed to protecting the interests of big business, will be shifted on a windfall tax. But his obstinacy in the face of the overwhelming case for such a tax might just result in him finally being shifted out of office.
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