Tag: banks
Brown prepared to impose ‘unpopular measures’
PRIME MINISTER Brown said yesterday that he will not be diverted from taking ‘unpopular’ decisions to ensure Britain gets through the global credit crunch....
SOARING INFLATION – as bankers demand billions more from Brown
Soaring factory prices have seen UK producer inflation reach its highest rate, 6.2%, in nearly 17 years in March. Annual ‘output price inflation’ at 6.2%,...
Replace Bankrupt Capitalism With World Socialism!
THERE is not the slightest doubt that capitalism worldwide is in its greatest crisis ever. The US-UK failed attempt to occupy Iraq and...
Massive Food Price Rises Driving Forward World Revolution
FOOD riots and major strike actions are erupting all over the capitalist world, driven forward by a doubling of food prices in many countries,...
No To Three Years Of NHS Wage Cutting
NURSES and other NHS workers have been offered a three-year pay deal worth 8% by the government. NHS trade union leaders who are prepared...
Capitalism in its greatest financial crisis, says Brown
THE Prime Minister, Gordon Brown, who once boasted that he had resolved the crisis of capitalism and its tendency to go from boom to...
Imperialists keep out of Zimbabwe! Forward to a workers and small...
THE MUGABE regime has been beaten in the polls by the trade union backed Movement for Democratic Change and is now considering its options...
Mortgage Crisis Grips!
UNISON yesterday called on the government to build more council houses as First Direct became the first major bank to stop lending to house...
Bosses fear ‘worst financial crisis since the Second World War’
A JOINT report from the Confederation of British Industry (CBI) and Pricewaterhouse Coopers (PWC) yesterday revealed the fears in business circles that the ‘credit...
NO SECRET INQUESTS! – NO 42 DAYS! – urge human rights...
MPs were urged yesterday to vote against government proposals for ‘secret inquests’, and to reject plans for 42-day detention without charge by both human...
Labour is selling off school playing fields
SCHOOLS Secretary Ed Balls and his predecessor Alan Johnson have given the go-head to the sell-off of 19 school playing fields over the past...
GREEK WORKERS DEMAND ALL-OUT GENERAL STRIKE – to halt attack on...
LAST Wednesday’s general strike in Greece, against the government’s reactionary Pensions Bill, marks a most critical turning point in the fast developing revolutionary situation....
Bankrupt capitalism deserves to perish
THE major British banks want to be able to use a ‘wider range’ of collateral, meaning their very dodgy mortgage portfolios, for the billions...
Greece On Road To Revolution!
Workers participated in their millions last Wednesday in the biggest one-day general strike in Greece. It was called by the GSEE (Greek TUC) against the...
Taxpayers Robbed To Bail Out Banks!
The Bank of England yesterday mortgaged £11 billion more of taxpayers’ money to shore up the big UK banks, as bank bosses held talks...
The Iraq war, the world crisis and the socialist revolution
MARCH 2008 sees the US and UK armed forces and governments irreparably damaged as a result of their failure to subdue the Iraqi people...
NORTHERN ROCK JOBS SHOCK! – Unite pleges to fight compulsory redundancies
The Unite trade union yesterday told Northern Rock that they will oppose any plans for compulsory redundancies at the publicly owned bank. Following the announcement...
Capitalism’s crisis– Socialist revolution, the only solution!
THE OFFICIAL annual rate of inflation leapt in February, according to the Office of National Statistics (ONS). Figures published yesterday showed that the Consumer Prices...
$30bn FEDERAL AID FINANCES BEAR STEARNS ‘RESCUE’ – first time since...
Billions of dollars, euros, pounds and yen were wiped off the world’s stock markets yesterday, as they reacted to the emergency bail-out of US...
Soaring oil prices and the banking collapse mean class conflict on...
ON SATURDAY more than 1,000 British Airways pilots marched on BA’s Heathrow headquarters over plans by BA to use non-BA pilots, in its new...
Dollar collapsing as gold reaches $1,000 an ounce
ON August 15 1971, the then president of the United States, Richard Nixon ended the gold backing for the US dollar, which up till...
A bankrupt budget for a bankrupt economy
THE AIM of every government in 2008 is to ‘maintain stability through the world economic slowdown’, said Chancellor Darling yesterday in his budget...
End The Ppp On The London Underground
TUBE passengers and taxpayers remain exposed to an unacceptable level of financial risk and could face another ten-figure bill if the Tubelines consortium were...
Banking disaster overshadows Brown-Darling budget
BLACKSTONE, the world’s biggest private equity capitalist raider, has reported a collapse in its profits in the last three months...
Bank In A Crisis Over Further Rate Cuts
THE Bank of England is acting like a rabbit frozen in the headlights of a powerful car. It knows that, this Thursday, it wants...
‘WE DON’T SUCCUMB TO THREATS AND MILITARY INTIMIDATION’ says Hezbollah MP
HEZBOLLAH MP Hassan Fadlallah on Friday condemned the sending of a US warship, the USS Cole to the eastern Mediterranean. He said Hezbollah would not...
Gates Gives Pakistan Its Orders
NO sooner has the US’s man, Musharraf, been decisively beaten in the Pakistan elections, than the US through its Defence Secretary Gates is issuing...
It’s a Labour heaven for bankers but a hell for workers,...
THE class message of the Labour government is clear. It is that if you’re a banker, you can do no wrong and are...
Nationalise All The Banks To Bring In A Planned Socialist Economy!
THE Tory Party has been driven to the brink of hysteria by the fact that the capitalist world banking system is on the brink...
‘Unite Will Resist Compulsory Redundancies’ At Northern Rock
Unite (Amicus section) yesterday expressed fears for the jobs of thousands of its members currently working at Northern Rock, as Chancellor Darling introduced emergency...
Trade unions must act to defend workers’ standard of living
THE Governor of the Bank of England, Mervyn King has proclaimed that the crisis of capitalism means huge ongoing cuts in the standard of...
Take strike action to defend wages and jobs
RAPIDLY rising food, gas, electricity and petrol prices pushed up the cost of living in January, even according to the government’s rigged inflation rate...
Labour’s Banker Kicks The Disabled!
INVESTMENT banker David Freud is the adviser behind Prime Minister Brown’s plans to slash the benefits of the sick and the disabled. This is at...
Now is the time to build the Workers Revolutionary Party
THE deeper the crisis of the capitalist system gets, the more desperate the measures that it takes to sustain the bosses and bankers’ system,...
Brown’s Planned ‘Reforms’ A Recipe For Ending The NHS
On January 7th 2008, prime minister Gordon Brown made a key policy speech on the NHS, in which he called for ‘continued reform’ and...
Brown To Nationalise Northern Rock Losses
BROWN and the Treasury have announced that they prefer a private sector ‘solution’ to the Northern Rock bank crisis, while Brown’s spin doctors have...
Markets Shaken By Bank Losses
Billions of pounds, euros and yen were wiped off European and Asian share prices yesterday as markets responded to Tuesday’s collapse on Wall Street...
Nationalise The Banks To Resolve The Capitalist Crisis
MORE than $170 billion (£87 billion) has been wiped off the balance sheets of companies worldwide as a result of the collapse of the...
Bank Keeps Rate At 5.5%
The Bank of England’s Monetary Policy Committee yesterday voted to keep the official Bank Rate on hold at 5.5 per cent. The Bank had been...
Bankers’ Man Brown Wants Three Years Of Wage Cuts
PREMIER Brown says he wants three-year pay deals for public sector workers, rather than the traditional annual deals, to help keep UK inflation low. ...
Build The Wrp In 2008!
THE TUC general secretary, Brendan Barber, in his New Year’s message said that his two fears for 2008 were the dangers of a banking...
The NHS must be free and available to all at the...
RECENTLY there have been a few years of increased government spending on the NHS, after many years of chronic underspending. Most of the new...
2008 – The Year For Revolution!
BY THE NEWS LINE EDITORIAL BOARD THE NEWS LINE Editorial Board sends its revolutionary New Year’s greetings for the year 2008 to the workers and...
Barber’s two ‘big worries’, the crisis of capitalism and workers’ anger!
BRENDAN Barber the TUC general secretary in his New Year message confesses that he has two ‘big worries’ for the year 2008. He...
‘WE WILL TAKE REVENGE ON RULERS!’ – Nawaz Sharif tells crowds
At least thirty people were killed as President Musharraf yesterday called out the army to restore order in the cities as violent protests spread...