‘The Chancellor’s Autumn Statement is good news for the super-rich, City speculators and the corporate fat cats. It hands yet more lavish subsidies to big business on top of the tax cuts on high incomes and monopoly profits.
There will be extra state finance for exports to China together with tax relief for City speculation in Exchange Traded Funds and for shale gas fracking, business rates and employers’ National Insurance contributions.
But there will be no windfall taxes on energy and retail monopoly profits and no moves to end tax haven status in British overseas territories
Instead, the extra state pension of £2.95 a week from April will be swallowed up in rising household fuel costs while almost one-third of men and more than one quarter of women today will not live long enough to draw their pensions in the mid-2030s at the age of 68′.
Communist Party of Britain general secretary Robert Griffiths responded to the Chancellor’s Autumn Statement today (December 5):