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Britain is doing socialism for the rich again - this time for oil and gas | The Guardian - Opinion |

The "free market" is a creed that stirs up near religious devotion among its believers. It is in fact a con, a myth, a great deception. Take the latest striking example: according to the National Audit Office, British taxpayers are expected to cough up £24bn for tax relief given to oil and gas corporations, for the removal of North Sea wells, rigs and pipelines.

[...]

Because so many employers refuse to pay their workers a wage on which they can live - most Britons languishing below the poverty line are in work - the state has to spend billions of pounds a year on in-work benefits. Private landlords charging rip-off rents are subsidised by about £9bn a year by the state. The backbone of 21st-century British capitalism - finance - was famously bailed out by the state

[...]

Modern capitalism is based on a myth: that thriving private entrepreneurs generate wealth through their own hard work, innovation and get-up-and-go. In fact, the state subsidies the entire system, nationalising the risks but privatising the profits, while allowing its beneficiaries - our shameless, profit-obsessed elite - power without accountability. It exposes how rotten our entire social order is - and why it has to go.

Maintaining the financial stability of UK banks: Update | NAO |
£850bn: official cost of the bank bailout | The Independent - Dec. 2009 |
Reality check: how much did the banking crisis cost taxpayers? | The Guardian - Sept. 2011 |

Global Warming - distance between America and Europe is steadily increasing.

by Oui on Sat Jan 26th, 2019 at 05:07:27 AM EST

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