Many are asking “Who runs this country, and for whose benefit?”
Global corporates seek a wider geographic footprint, leaving unemployment in their wake
John Lundgren, chief executive of Stanley Black & Decker, the US group best known for manufacturing DIY hand tools, has explained that the proposed takeover of a Swedish security systems firm would give the company a powerful presence in Europe and strengthen its prospects in the emerging markets of Asia and Latin America.
There is no information as yet about the fate of the Swedish employees but it is reported that in the Midlands, Great Barr, 220 employees are to lose their jobs when Black & Decker switches production at Tucker Fasteners rivet-making site to Germany.
John Tyrrell asked the question in the title earlier this month – and answered it. He states that the European Union, ‘another Capitalist club’, has made provision for the movement of Capital and Labour for the benefit of the owners and to the detriment of the work force.
He recalls 1970, when the British economy was built on 80% productive manufacturing with 20% service industries, largely unproductive, Margaret Thatcher resolved to deal with the “enemy within” – following the success of the British workforce supporting the beleaguered miners in 1972, notably at the Battle of Saltley Gate in Birmingham.
Rather than trying to restore the situation, New Labour intensified the move to privatisation: “Today they support the cuts agenda which allows huge sums of public money to go into the pockets of big business – which is likely either to be, or become under foreign ownership. When will the lesson be learnt?”