Economy

Paying rent sucks. That's nothing new. Its not really profound or controversial to say that — hardly a purely socialist slogan. All of us would like a bit more dosh, and to hand over hard earned cash just for a shitty flat isn’t something anyone enjoys. But these days it’s much more than that — paying rent is hard, and getting harder.

Testimony to the NSW upper house inquiry into the sale of NSW’s electricity assets has alleged that only a fraction of the $5.3 billion price tag will reach the public purse. Billions will be eaten up by “associated costs”. These costs include about $1.5 billion in government funds to buy a new coal mine north-east of Lithgow to ensure a cheap coal supply for the new private owners. A further $1 billion in coal price subsidies is guaranteed to the private energy companies over the life of the mine.

Socialist Alliance statement, December 7. Defend Wikileaks and Julian Assange! Australia should break the military alliance with US! “The Australian government should defend and support Wikileaks and its founder Julian Assange, and their efforts to expose the lies, duplicities and outright crimes of the US government and its allies”, said Peter Boyle, national convener of the Socialist Alliance. “We condemn the Australian government for collaborating with the American government in hunting Julian Assange down.

It’s that time of the year again. It’s the festival of festivals to boost the profits of giant retail stores. The “Spirit of Christmas” demands to be fed with your maxed out credit card. There’s a new desperation to this seasonal message this year. The shoppers are not splurging like they should. A recent Westpac survey found that consumers would spend 34% less in 2010 than in 2009.

Thousands gathered in Vienna and other cities across Austria on November 27 to oppose government cuts in education, heath care and family allowances, the Morning Star said on November 28. Students, trade unionists and pensioners carried placards reading: “Take it from the rich”, and “You want to prune the budget, we want to overturn you”. The government, a coalition between the Social Democrats and the conservative People’s Party, is seeking to reduce public spending by €1.6 billion next year.

About 100,000 people took over the streets of Dublin on November 27 to protest the Irish government’s “bailout package” from the International Monetary Fund and European Central Bank, and the savage austerity accompanying the loans, the Morning Star said on November 28. The government formalised the loans, worth €85 billion, on November 29. Loan conditions include the government spending cuts over four years to reduce its deficit. The 2011 budget will contain €4.7 billion in cuts and €1.5 billion in new taxes, the Morning Star said.

NOTE:: The previous ad on this page had incorrect details for Lowkey’s Australian tour. The new ad has the right details. London-based rapper Lowkey has worked with hip-hop acts Immortal Technique, Dead Prez and Canibus, and is touring Australia as part of his “Soundtrack to the Struggle” world tour. Lowkey is renowned for his overtly political songs, denouncing imperialism and corporate domination.

The Republic of Ireland’s financial crisis, which has caused unemployment to rise from 4.3% in 2006 to 14.1% in October, has deep roots. The conditions of the European Central Bank (ECB)/International Monetary Fund (IMF) “bailout” package for the Irish government will total €85 billion — at a higher interest rate than that tied to the Greek bailout in May. It is tied to the Irish government carrying out huge government spending cuts, tax rises for workers and wage cuts for public sector employees. Irish workers are being told to pay for a crisis they did not cause.

In the lead-up to the March NSW elections, the Socialist Alliance will campaign under the slogan: “NSW — not for sale! Community need not corporate greed.” It sums up the radical shift in priorities needed in the interest of environmental sustainability and social justice. Labor will get trashed in these elections. The Victorian election result confirms that. The Keneally Labor government is much more on the nose than the Victorian Brumby government was.

Irish socialist republican party eirigi chairperson Brian Leeson has labelled the Dublin government’s four-year fiscal adjustment plan “a criminal charter for the wrecking of working class communities”. Among the measures contained within the plan are: • A €2.8 billion cut in the social welfare budget. • The gradual increase of the pension age to 68 by 2028 and the reduction of the pension rate for retired public sector workers. • The reduction of the minimum wage to €7.65 an hour. • The raising of university registration fees to €2000.

The public finances of Ireland will, for the next three years at least, be subject to “regular reviews” by external monitors working on behalf of the International Monetary Fund (IMF), the European Union (EU) and the British and Swedish governments. On November 21, the Taoiseach (Prime Minister) Brian Cowen and minister for finance Brian Lenihan, after a week of shocking lies and deceit, said they would accept the IMF/EU bailout. It later emerged that the G7, made up of the seven most powerful countries in the world, had met to give its approval to the deal.

The Rise of the Green Left: Inside the Worldwide Ecosocialist Movement By Derek Wall Pluto Press, 190 pages, paperback www.plutobooks.com/display.asp?K=9780745330365& Review by Mat Ward As the threat of climate catastrophe looms ever larger, Derek Wall has written what he calls "an explicit call to non-violent arms".