A transfer of wealth from labour to capital unparalleled since the 1930s
It’s the steady erosion of collective bargaining over a number of years that has led workers’ pay to fall, while employers’ profits continue to rise, says LORD JOHN HENDY QC in the first of a two-part article series
THIS week the Office for National Statistics (ONS) reports that the rate of inflation measured by the consumer prices index rose by 10.1 per cent in the 12 months to July 2022, up from 9.4 per cent in June.
The Bank of England expects inflation to rise to “just over 13 per cent” in the last quarter of 2022.
The ONS confirms what we all know: the principal contribution to inflation in July came from the cost of electricity, gas and other fuels, and food prices.
More from this author
The Star publishes the Karl Marx Graveside Oration delivered by Lord JOHN HENDY KC at Highgate Cemetery on Sunday, on behalf of the Marx Memorial Library
LORD JOHN HENDY KC explains how the events of ’84-5 were an ideological assault unleashed on the working class in revenge for gains of the ’70s
The government’s response to the cost-of-living crisis is nothing short of class war. Workers can’t be expected to take these attacks lying down, says LORD JOHN HENDY QC
Instead of these weak and often unclear proposals from the government, we needed unions themselves to be put back into the heart of negotiations and given the freedom to defend their members, writes LORD JOHN HENDY QC
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