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Is big business under attack?

(12 Posts)
durhamjen Mon 15-Dec-14 23:49:52

At last some good news.
The fare dodger who worked in the city has been banned from working in the city as he is not considered to be a right and proper person.

Justice for other commuters at last. The sort of big business person who should be under attack. Hopefully it might make others in the city realise that the watchdog has teeth.

durhamjen Mon 13-Oct-14 23:54:12

Don't want the government to run the world, just this country. But I want them to run the country for all of us, not just their friends at the top of the foodchain.

Thanks for that summary, eloethan.

It's the problem of big business in the form of globalisation that has caused the inequalities we see, and the fact that the governments of many countries kowtow to big business.
According to the CPS, the state pension fund could run out next year, because of below inflation pay rises not bringing in enough national insurance. The other thing that does not bring enough national insurance is that those who get a lot of pay do not pay the same percentage as the rest of us.
The treasury says it's just a scare story. From a right-wing think tank!

rosequartz Mon 13-Oct-14 20:29:15

I think I said on another thread that imo governments do not run the world, that big business does.
Governments just tinker around the edges.

Eloethan Mon 13-Oct-14 20:24:02

Shocking durhamjen. To summarise the blog for those who don't read links:

Over the past year FTSE 100 directors' pay went up by 21%.

The CEOs of some of Britain's biggest companies earn 120 times more than the average full-time salary, compared to 47 times more in 2000.

Over the last seven years, there has been an 8% drop in real earnings. This cost-cutting has triggered increased bonuses for directors. Because low wages are topped up by the state, such bonus increases are in effect paid by the taxpayer.

durhamjen Mon 13-Oct-14 20:05:33

Big business should be under attack. The latest statistics on pay show this.
www.taxresearch.org.uk/Blog/2014/10/13/never-in-the-history-of-humankind-have-so-many-suffered-so-much-for-the-greed-of-a-few/

gillybob Wed 08-Oct-14 22:50:36

Just look at the big corporations like Amazon,Google,Starbucks,Boots etc. they dictate how much tax they want to pay, (which seems to bear no resemblance to what they actually owe) by coming to an "arrangement" with the tax man. If a small business tried this they would be either accused of attempted bribery and/or put out of business. Of course they run the country.

vampirequeen Wed 08-Oct-14 20:27:06

Big businesses already rule the world. They've just managed to keep it a secret from most people up to now.

Gracesgran Wed 08-Oct-14 19:57:27

I would also worry more about the power of the big businesses Eloethan. I imagine the further to the right members of the conservative party are the closer you get to even one constraint on how your business behaves becomes one too many.

grannyactivist Wed 08-Oct-14 19:53:04

Eloethan I share your concern about TTIP, but even people I think of as being fairly clued up are mostly unaware of it. I shudder to think of the implications.

absent Wed 08-Oct-14 18:41:41

Many multinationals are, not just "seem to be almost" - more powerful than some governments. Fundamentally these huge corporations are not ethically or socially answerable to anyone as their own legal obligation is to their financial well-being of their shareholders. From massively damaging and improperly treated oil and other chemical spills to polluting or diverting local water supplies. There is also a long and ignominious association between unscrupulous companies and corrupt governments - just remember the sad and bloody saga of Nigerian oil production.

HildaW Wed 08-Oct-14 17:44:42

Many large businesses seem to be almost more powerful than some governments. Its a worrying trend nowadays. 'Globalisation' was seen as something hairy hippies ought to protest about but to be honest we should all be concerned about just how much power they have at the moment.

Everything seems to be viewed by its monetary worth rather than its benefit to ordinary people.

Eloethan Wed 08-Oct-14 16:56:35

George Osborne said on Friday, at an event hosted by the Institute of Directors, that business is under political attack on a scale it has not faced since the fall of the Berlin Wall.

Previously, Digby Jones, had warned that companies are at risk of being killed by regulation from "big government".

In an article in the Guardian today, George Monbiot asks where the evidence is to demonstrate that big business is under attack.

David Cameron has said he is "rolling out the red carpet for multinational corporations, cutting red tape and cutting taxes". There has been little real opposition to these sorts of statements.

Meanwhile, in this supposed anti-business environment, the secretive TTIP talks steam ahead - their aim to suppress the ability of governments to put public interest ahead of profit. One example of how such powers may be used (and there are several other examples) can be found in El Salvador, which refused permission for a gold mine because it would poison people's drinking water. An Australian company is suing the government before a closed tribunal of corporate lawyers for $300m of purported potential lost profits.

In the UK, clauses have been inserted into contracts with companies who are taking over the probation service that if a future government seeks to cancel the contracts it would have to pay such companies 10 years' worth of lost profits - in the region of £300-400m.

My feeling is that challenges to the power of big corporations appear to come from concerned individuals and pressure groups such as UK Uncut, while governments have been largely acquiescent to the demands of big business.