The banks (that bankrupted themselves with their reckless gambling) have benefited from an estimated £1 trillion in bailouts (which are hidden outside the official national debt figures), by far the largest state subsidisation scheme in British history. •Since the financial sector collapse in 2008 the banks have paid out more than double the amount in bonuses than theyve paid in corporation tax. •Staff at RBS (which is 82% owned by the taxpayer) were handed £607 million in bonuses in 2013, despite the bank losing another £5.2 billion (which brought their post crash losses to £34 billion). •The 5% of wealthiest families have received 40% of the economic benefit of the Bank of Englands £375 billion Quantitative Easing money creation schemes. •The rate of corporation tax on large corporations has been slashed by 40% from 28% in 2010 to 20% in 2015. •Since the Tories came to power the directors of the FTSE 100 companies have enjoyed an unprecedented period of wage inflation, which peaked in 2011 with an average annual wage rise of 49%! •The average worker has suffered the longest sustained period of wage repression since records began. •Private health companies that donate to the Tory party have received £1.5 billion worth of contracts since the Tories carved the NHS wide open for privatisation (like they promised that they wouldnt). •The UK loses an estimated £120 billion per year to tax-dodging, yet the Tories have opened up even more tax loopholes for British companies and worked tirelessly to create the ludicrous narrative that welfare spending is to blame for the crisis, not reckless financial sector gambling and rampant tax-dodging. •In the very same week that the Tories introduced Bedroom Tax to financially penalise some of the poorest and most vulnerable people in society, they handed the 13,000 UK based income millionaires an average tax break of £100,000 per year!
Posted on: Wed, 15 Oct 2014 07:40:18 +0000
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