There is a “Plan B” … and it needs our attention.

If you disagree with the severity of any of the “Spending Cuts” then there is a Plan B that is worth investigating. You may not yet realise how much you disagree with the planned cuts.

We are being asked to give up libraries, NHS facilities, care for the elderly, care for the young, care for the disabled, essential services are being cut…funding for almost every worthwhile cause has been cut or is to be withdrawn, students are being asked to get into a huge amount of debt in order to be able to afford the privilege of studying, we were even being told we had to give up our forests… …

The only people that seem to have escaped the effects of this global shake up, strangely enough, are the banks. Barclay’s Chief Executive, Bob Diamond stated that the period of "remorse and apology" for banks was over and to prove the point they are back to paying out annual bonuses to themselves that would take 75% of the world’s population 600 or more years to earn.

Something doesn’t sound quite right with this equation.

Politicians and tax campaigners have been stunned by the (forced) admission this week by Barclays Bank that in 2009 it only paid !% tax – just £113m in UK corporation tax in a year when it rang up a record £11.6bn of profits.

The current rate of corporation tax in the UK is 28%

Most of the bank’s taxes are avoided through loopholes in the system… Barclays admitted it has 30 subsidiary companies in the Isle of Man, 38 in Jersey and 181 in the Cayman Islands, so there is no shortage of ways in which money can be siphoned out of the system.

Max Lawson, of the Robin Hood Tax Campaign, said: "This is proof that banks live in a parallel universe to the rest of us, paying billions in bonuses and unhampered by the inconvenience of paying tax.

"If banks paid their fair share we could avoid the worst of the cuts and help those hit hardest by the financial crisis they did nothing to cause."

On Tuesday – when Barclays announced 2010 profits of £6.1bn and a 23% rise in average pay in its investment banking arm, Barclays Capital – the tax campaigners turned a London branch of the bank into a library

The banks are holding us to ransom, threatening to leave us high and dry if we so much as slap them across the wrist… and what are they actually providing us with?

Plan B is explained in a video that gives good food for thought, especially in the light of the latest Banking scandal…

Leave a Reply

You must be logged in to post a comment.