Economy

The biggest barrier to the rational economic policies of Jeremy Corbyn, the socialist leader of the British labour Party, is the huge profits the super-rich are making from irrational ones. The Bank of England has shelled out £375 billion in “quantitative easing” since the 2008 crash. It has, quite literally, created electronic money out of nowhere and used it to buy up financial assets held by the banks. The idea has been to pump “liquidity” — lendable money — into the economy.

Less than 1% of rental properties are affordable for low-income families in Sydney and the Illawarra, according to a new report launched on April 21 by Anglicare Sydney.

Sarah Eleazar is a Pakistani journalist and member of the socialist Awami Workers Party (AWP). She co-edits Tajdeed, a left research journal in Urdu. Eleazar will be a featured guest at the Socialist for the 21st Century conference in Sydney on May 13-15. She spoke with Green Left Radio on Melbourne community station 3CR in March about the fight for women’s liberation and socialism in Pakistan. The first part of an abridged transcript is below. ***

In a stunning rebuff to the party establishment, delegates to the federal convention of the Canada’s social democratic New Democratic Party, meeting in Edmonton, Alberta April 8-10, voted to reject Thomas Mulcair as their leader. They voted to begin reorienting the party to become a leader in Canada’s climate justice movement.

Activists from Stop CSG Sydney and the Australian Student Environment Network toured the AGL Camden CSG gasfields on April 17 to see for themselves how close gas wells are to homes. AGL has promised to end gas mining in Camden by 2023. Residents want them shut down now. The NSW government has said that gas wells cannot be drilled within two kilometres of homes, but it is happy for Landcom, the government's own developer, to sell house and land packages within a few hundred metres of major gasfields.

The first screening of the cinematic tale of women fighting for jobs at Port Kembla steelworks screened to 250 people at the Gala Cinema in Warrawong on April 17. Set in 1973, The Women Who Were Never There tells a dramatic story, based on real events, of women who chained themselves to the front gates of BHP to protest the lack of jobs for women. The film brings to life the drama of the women who took on Australia's biggest corporation in their fight for equality.

A gathering of thousands of peasants in the Okara District of Punjab, to mark International Peasants Day on April 17, went ahead despite a violent crackdown by the police, paramilitaries and the army.

Queensland Natural Resources and Mines minister Anthony Lynham announced on April 18 that the government has banned underground coal gasification (UCG) in the state, arguing the environmental risks outweigh the economic benefits. He said the ban, which would apply immediately as government policy, would be legislated by the end of the year. Underground coal gasification involves converting coal to a synthesised gas by burning it underground. The syngas is processed on the surface to create products such as aviation fuels and synthetic diesel.

I live and work as a nurse in Fremantle and I'm the Socialist Alliance candidate for the seat of Fremantle in this year's federal election. The Socialist Alliance recognises that not only has corrupt, business-as-usual politics caused a deepening social and climate crisis, but that those entrenched and greedy interests are unwilling and incapable of providing real solutions. Major system change is needed. There is a growing despondency amongst large sections of the community; real anger and frustration in the way things are going. And rightly so.

Concerned residents gathered outside Lismore City Council on April 19 as the NSW Planning Department briefed council on the Draft North Coast Regional Plan. Spokesperson for Gasfield Free Northern Rivers, Dean Draper said: “They should be offering a community briefing in Lismore so we can clearly send our message that this regional plan must be amended to remove the current references to CSG. As well as this removal we are demanding that the plan clearly spells out that there will be no unconventional gas exploration at all for the life of the plan.

There is a joke in Australia that there will be a high-speed rail service linking the major cities on the Eastern seaboard that will run about once in every three years — whenever there is an election looming. Prime Minister Malcolm Turnbull has, like the previous Labor government, again floated the idea.

Chants of "MUA, here to stay!" rang out outside the electoral office of Prime Minister Malcolm Turnbull on April 13, as around 200 members of the Maritime Union of Australia (MUA) rallied in protest against federal government attacks on the shipping industry, threats to reduce penalty rates and the Coalition's industrial relations agenda.