Link to this page: https://www.socialistparty.org.uk/issue/1151/33160
From The Socialist newspaper, 13 October 2021
photo Spudgun67/CC (Click to enlarge)
Alasdair Cook, South East London Socialist Party
The Pandora papers have further revealed capitalism’s parasitic nature. Britain’s housing crisis is shown to serve as a lucrative venture for the super-rich. The investigation revealed that 1,500 UK properties have been bought by offshore firms, totalling an estimated value of £4 billion, mostly in London.
These owners include UK political donors, high profile foreign politicians, and individuals accused of corruption. These ‘revelations’ aren’t exactly surprising, since the super-rich have been buying up high-end property in London at ever-increasing rates, as the wealth of billionaires has soared by 35% during the global pandemic.
Meanwhile, the UK housing crisis is severe and set to get worse. The number of households in the private rented sector has increased by 1.7 million from 2007 to 2017; with 25 to 34-year-olds representing the largest group – 35%, giving credence to the phrase ‘generation rent’. Many, unable to afford to move out, stay living with family into their 30s.
Shifting focus towards London paints an ever gloomier picture. Many workers can no longer afford to live in the capital, as seen by recent research by the Royal College of Nursing showing 57% of nurses plan to move out of London. Furthermore, homelessness in London is rapidly rising, with the number of rough sleepers tripling from 2010 to 2018.
With the crisis deepening and the mainstream political parties offering no solutions, there are those who are resisting. This includes Lewisham bus driver Anthony Braithwaite who is standing his ground against eviction by a Labour council. Socialist Party members have been among those campaigning with him.
It is only a socialist programme that can defeat the housing crisis in London and elsewhere, including democratic rent controls, the mass building of decent council homes, and an end to evictions. Property speculation has driven the number of long-term empty homes in London over 30,000. We say, take this property out of the hands of the super rich and use it to house those who need it.
- Read more: ‘Pandora leaks put capitalism in the dock’ at socialistparty.org.uk
Finance appeal
The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.
The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.
- The Socialist Party’s material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
- We must be ready for the stormy events ahead and the need to arm workers’ movements with a socialist programme – one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our Fighting Fund.
In The Socialist 13 October 2021:
We need a pay rise!
Fight for the pay rise we deserve
Workers need a pay rise
What we think
Cynical Johnson government no friend of workers
News
Pandora property speculators fuel housing crisis
Social care funding needed now
News in brief
Workplace news
Who runs Unison: lay members or the paid officials?
Place Unite at the head of the anti-Tory movement with militant policies and action
Oaks Park pickets vote for more strikes to defeat bullies
National Education Union deputy general secretary election
College strikes continue into third week
60 steelworks scaffs march in second week of all-out strike
DVLA: Workers ballot on further strike action
COP26
Build a mass working-class climate movement with socialist policies
Youth Fight for Jobs
Hundreds march with Youth Fight for Jobs
Winter of Discontent
The ‘winter of discontent’ – When workers could take no more
Campaigns news
Hackney: Stop closure of Fernbank and Hillside children’s centres
Durning Hall: Hands off our community space
March to save Stratford arts jobs from Newham Labour attacks
Readers’ opinion
Newcastle United takeover – no to billionaire Ashley or Saudi despots
Ridley Road: An engaging story of fighting fascism
Readers’ comments
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