The official regulator for the energy industry, Ofgem, reported on 27 March that suppliers’ retail profits — from selling energy to households and businesses — had risen to £1.1 billion in 2012 from £233m in 2009.
Social and Economic Policy
On 26 March the coalition government voted through a law to “cap” welfare benefits for future years. Most Labour MPs voted for the “cap”. Only 13 rebelled.
Robin Blackburn, author of Age Shock: How Finance is failing us and other books, comments on pension changes made in George Osborne’s Budget.
On 19 March, George Osborne will deliver another cuts budget.
Giant Swiss bank Credit Suisse stands accused of helping US plutocrats avoid tax by, among other things, shredding documents, holding meetings in a secret elevator, and hiding bank statements inside copies of Sports Illustrated.
The top ten per cent in Britain pocket over £300 billion a year. Just a ten per cent tax bite from that flow would be enough to offset all the cuts that the Government is making.
Just 85 of the world’s richest people have as much wealth as the 3.5 billion people in the poorer half of the world’s population.
The “personal” problems of Paul Flowers, former chairman of the Co-operative Bank, have created a major political storm.
Big banks stand accused of rigging the markets for trading between currencies, in which £3 trillion of business — £400 for every child, woman, and man on earth — is done each day.
Not of the princes and prelates with periwigged charioteers
Riding triumphantly laurelled to lap the fat of the years.
Rather the scorned—the rejected—the men hemmed in with the spears;