Economy

  • Venezuelans protest bill to privatise housing, Congress for the Homeland opens

    Venezuelans took to the streets on April 14 to protest a new housing law proposed by the new right wing-controlled assembly that seeks to privatise public housing. TeleSUR correspondent in Caracas Iain Bruce reported: “Government supporters are protesting against a law passed by parliament to allow public housing to be sold.”

  • United States: Chicago teachers push back against austerity

    Chicago Mayor Rahm Emanuel and Illinois Governor Bruce Rauner came under fire on April 1 in a day of action by teachers and others who took to the streets to protest their austerity policies. Revealing the bipartisan support for austerity un US politics, Emanuel is a Democrat who was Barack Obama’s White House Chief of Staff during his first term while Rauner is a conservative Republican.

  • US corporations hide trillions in tax havens

    Wal-Mart, Apple, Walt Disney, Goldman Sachs and Coca-Cola are just a few of the US corporate giants who have more than a trillion dollars hidden in offshore tax havens, according to a report released on April 14 by Oxfam. The report, titled Broken at the Top, reveals the 50 biggest US companies' dodgy tax practices, which includes owning more than 1600 subsidiaries in tax havens which have helped them stash US$1.3 trillion between 2008 and 2014. According to Oxfam, “This is more than the entire GDP of countries such as Spain, Mexico or Australia.”

  • Protests grow against Powerhouse Museum sell-off

    The Powerhouse Museum in inner-city Ultimo is a great place to take the kids for an educational and enlightening experience. The NSW Coalition government's plan to sell off the museum building to private developers and shift the collection to Parramatta in Western Sydney is facing growing opposition. Premier Mike Baird confirmed on April 11 the government's decision to shift the museum, to be constructed on the old David Jones car park site on the banks of the Parramatta River. Construction is due to begin in 2018 and finish by 2022.

  • 'Let's nationalise the banks for their crimes': Socialist candidate

    "Let's take the big banks head on over their crimes and their attempts to cover up their massive financial rip-offs, and nationalise them under workers' and community control," Peter Boyle, Socialist Alliance candidate for the seat of Sydney in the upcoming federal election, said on April 14. Boyle was responding to reports the banks were considering a huge advertising blitz against plans by the Greens and the Labor Party to launch a Royal Commission into the banking and finance sectors.

  • A bank Royal Commission is a good start

    The revelations from the Panama papers continue to reverberate around the world. While the Australian angle has so far been a bit anticlimactic, it did kick off a discussion about the banking sector and tax havens. Bill Shorten, in an uncharacteristic display of spinal-cord solidification, seized the initiative and announced that the Labor Party would conduct a Royal Commission into the banking industry if elected.

  • Austerity gathers pace in volatile South Africa

    A wedge is being quickly driven through Pretoria's political elite. Among the victims of this power struggle are vast numbers of poor people. The poor are starting to bear the brunt of the diverse shakeouts in the ongoing confrontation now underway between the country's two most powerful 21st century politicians: President Jacob Zuma and his predecessor Thabo Mbeki. That battle began in 2005, when Mbeki sacked then-deputy president Zuma following a corruption conviction against a long-time Zuma associate.

  • Workers say "Disability: not for sale"

    On April 14 hundreds of disability workers rallied in Melbourne against the state government's proposal to privatise disability services. Privatisation will reduce service quality for people with a disability and make job security and wages and conditions less certain for disability workers. Before being elected, Premier Daniel Andrews promised he would not contract out public sector disability services.