Christmas Realities for Too Many in Our Society.

This is the reality of life for too many of our people after 10 years of New Labour in power.

In the week before Christmas I am in my constituency office dealing with a family who have been told by their private landlord that they must quit their home on Christmas day. Their privately rented home is in a disgraceful state of disrepair but costs them £825 per month. The property is a former council house which has been bought by a buy to let landlord who lives in a wealthy area in the Home Counties. He owns many properties in my constituency. The family dont want to publicise their plight because they are frightened of retaliation by the landlord.With 2000 homeless families in my community I come across obscene exploitation like this is on a daily basis.

It shouldnt be like this after 10 years of a Labour Government. In 2008 we can no longer remain quiet about New Labours grotesque failure of the weakest and most vulnerable in our society. The role of the Left will be to expose more fiercely and campaign even harder against the injustices of our society.

I am signing off for a break with my family over Christmas.

I want to thank all those people who supported me and my various campaigns throughout the last year and all those many many people who inspired me with their determination altruism and courage.

Have a Good Christmas and I wish you all a peaceful and happy New Year.

We wil be back in 2008 determined as ever to work in solidarity with all those who believe like me in the words of our campaigns title that another world is possible.

Best wishes

John

McDonnell MP

Credit Crisis and Economic Downturn Looms but it's Another Good Year for City Bonuses.

The financial press daily report on the mounting credit crisis and every serious economic commentator is predicting a downturn if not yet a full blown crash, but it's another good year for city bonuses. So far the predictions are that over £7.5 billion will be paid out in bonuses over the next few days in the City of London.

Bankers at Goldman Sachs are giving themselves at least £5 million each from a record bonus pool worldwide of £9 billion. They will joined in the bonus bonanza by Barclays Capital,DresdenerKleinwort, Lehman Brothers, UBS and Morgan Stanley.

So the people and institutions who have brought us to the brink of recession are rewarding themselves by becoming even more filthy rich.

The City of London plays a significant role in assisting individuals and companies avoid tax on their income. The IMF has recently described the City of London as an onshore tax haven. Latest estimates put the figure of tax lost by tax avoidance in Britain at £150 million every year. It is estimated that Africa loses £75 billion through tax dodges, five times what it receives in aid.

Today I have tabled an Early Day Motion in Parliament calling on the Prime Minister to introduce measures to tackle this tax avoidance and also to introduce a windfall tax on the city bonuses. Even a small redistribution of the income from these grotesque bonuses would assist in eradicating child poverty in our society.

Will Gordon Brown act to tackle this obscene increase in the wealth of the very rich at a time when many in our society face the insecurities of a possible recession? After ten years of a Labour Government we shouldn't have to ask the question.