14/05/2018 - Rich list shows we're not 'all in it together'

fatcatDid you make the Sunday Times rich list this year? No? Nor did we.

It showed that the 1,000 richest people in Britain now have a record total wealth of £724 billion—up 10 percent on last year’s figure.

Despite the "all in it together" propaganda we wager these have faced none of the cuts suffered by the many since the 2008 credit crunch.

Real wages are still worth £24 a week less than they were in 2008—and are not expected to return to pre-crash levels until 2025.

But the richest 1,000 have almost trebled their wealth since 2009.

The richest individual in this year’s list is fracking and chemicals billionaire Jim Ratcliffe. He increased his wealth by more than £15 billion last year to take his fortune to £21 billion.

Ineos owner Ratcliffe became famous in 2013 when he threatened to close the Falkirk petrochemical plant unless workers accepted a devastating package of job cuts and worse conditions.

In 2010 Ratcliffe and his team left Britain for Switzerland’s much lower corporate tax rate. He returned in 2016, encouraged by Tory tax cuts for the rich.

Ratcliffe is one of a record 145 billionaires in the list—11 more than in 2017. London is the number one city in the world for billionaires, with some 93 billionaires born, living or with their businesses based in the capital.

The tens of thousands of Union marchers who thronged the streets of our Capital this weekend and the strikers winning recent battles are a testament to one fact - lottery capitalism isn't working for the many, just the few and we've had enough of it.