Campaign news

Rich get Richer under Tories – Shock Report

27th April 2015

Rich get Richer under Tories – Shock Report

The ‘Sunday Times’ Rich List 2015 is out now. It shows that the top 1,000 people are now twice as rich as they were in 2009. They are now collectively ‘worth’ £547bn as against £258bn in 2009. To get in the top 1,000 list you now have to own £100m in wealth.

These top 1,000 people are paupers besides the 117 sterling billionaires, with a wealth of £325bn between them. They have seen a 172% rise since 2009.  Britain has more billionaires than any country except China and the USA, both enormously more populous countries, and more billionaires per head than anywhere else on earth.

Top cat this year is Len Blavatnik, born in Odessa. He made his pile – now worth £13.17bn – by looting the economy of the Soviet Union as it collapsed – using his connections to buy state-owned industries in oil and aluminium at knockdown prices.  His swag has increased by £317bn since 2014. He owns a £41m mansion in London - Kensington Palace Gardens to be exact – as well as a $77m duplex (whatever that is) in New York.

Meanwhile working people’s real incomes have stagnated since the Great Recession. A worker on average earnings of about £25,000 a year would have to work 526,800 years to earn as much as Blavatnik boasts of.

Old money is still in the list, but their wealth is just as tainted. The Duke of Westminster is 9th richest with £8.56bn, up £60m since 2014. His ancestor was one of those Tom Paine called “the banditti that came over with the bastard” (William the Conqueror).  He was given large chunks of Cheshire as a reward for his help. A more recent forerunner of his made an advantageous marriage in 1677 and came into possession of Belgravia – Mayfair - the most exclusive and expensive property district in London.

Richard Branson is back in the top 20. His wealth increased by £500m to £4.1bn in just one year. Why? Virgin Trains was given part of the East Coast rail franchise, which had been publicly owned and was steadily returning money to the Treasury. On top of the West Coast rail franchise that Branson already owns, the stock exchange correctly gauged that the government was giving him free money – our money. Virgin shares soared as a result.

So obviously the wealth of the rich is based entirely on hard work and entrepreneurial skills not given to the rest of us.

According to the Equality Trust the top 1,000 on the list have more money than the poorest 40% of households in Britain. Over the past year they just sat around living the life of Riley and saw their wealth grow by £77m a day.

This has got to stop. As a first step do all you can to get the Labour vote out on May 7th.

Bookmark and Share


By Ian Hodson It’s great news that a mainstream political party has recognised the importance of taking positive action to raise pay. Since 2008, politicians from all parties along with many in the media, have pushed the narrative that society will somehow improve by imposing austerity and blaming minority groups for the state of the country’s finances. Sadly, many have fallen for this deception and the ‘look over there’ politics that has rose to prominence since the Conservatives returned to power in 2010. [continue...]

Folkestone United – coming together to support migrants Bridget Chapman, Folkestone United, reports [continue...]

No Witch-Hunts In The GMB, Reinstate Keith Henderson (The Online Petition) Keith Henderson Essex LRC member and former Regional Organiser of the GMB Union was dismissed from the GMB last December, Keith has always believed that the real reason for his dismissal was because of his socialist beliefs and the manifestation of his beliefs. [continue...]

Please see our Labour Briefing Website here: [continue...]

The LRC is supporting a broad alliance of campaign groups and trade unions against the proposals in the Welfare Reform Bill (currently before Parliament) and putting forward our alternative based on social justice and welfare for all. [continue...]

Across the country working people are losing their jobs and their homes. Meanwhile the bankers who plunged us into this crisis have been bailed out with billions of pounds of our money. It’s time to fight back. Their Crisis Not Ours! is the LRC’s campaign to bring together workers, pensioners, the unemployed, students, those facing repossession and all those suffering because of an economic crisis that has been imposed on us. The campaign is supporting the demands of the People’s Charter. [continue...]

Rail bosses are using the recession as an excuse to attack jobs and conditions and cut back on services and essential rail works, and hike rail fares - as LEAP research suggested they would. Thousands of jobs are being threatened or have been lost. At the same time rail fat cats are raking in big profits and bonuses on the back of the most expensive fares in Europe. Make no mistake: as the recession worsens so will the attack on rail workers and rail services. [continue...]

The campaign calling on the Government to abandon its plans for privatisation of Royal Mail. The Government has introduced the Postal Services Bill to part-privatise the Royal Mail. With our affiliate union CWU we are fighting to Keep the Post Public! [continue...]

The campaign to demand the Government funds improvements to all existing council housing, and to start building first class council homes to address housing need. For more information see Defend Council Housing website. [continue...]

Campaign news


Find us on Facebook Follow LRCinfo on Twitter

Corbyn for 2020:


Subscribe to Labour Briefing

Labour Briefing