Martin Levy, communist candidate in the Newcastle upon Tyne East constituency, has called for the assets of the super-rich to be seized, in place of the forthcoming rise in workers’ national insurance contributions.

“It is hardly surprising that the Tories have been able to cobble together an alliance of ‘business leaders’ to attack the increase in employers’ NI contributions,” he said. “Big business has traditionally supported the Tories and always complains about any measure that will hurt its profits.

“Ironically, big business has done quite well out of the years of the New Labour government, with the reduced rate of corporation tax, cutbacks in ‘regulation’, including those by the Health & Safety Executive, and the retention of the most draconian anti-union laws in Europe. “Gordon Brown says that the business leaders have been deceived by the Tories’ claim that, instead of the NI increase, savings can be made in public spending.

In fact Britain’s people are being deceived by the major parties, because all are planning massive cuts in public spending after the general election – cuts which are unnecessary, and which will damage public services and throw tens of thousands out of work. “Instead of cutting public spending and increasing NI contributions, the government should be seizing the assets of the super-rich who added to their profits through involvement in the 2008 financial crash.

Their speculation, which resulted in so much misery, was nothing less than legalised theft. “Furthermore, by closing 'tax avoidance' loop-holes for the wealthy and corporations, by levying a 1% wealth tax on the richest 10 per cent of the population, and by imposing a ‘Robin Hood’ tax on major transactions (including speculation) by British financial institutions, the government could raise 10 times the amount of Labour’s planned public spending cuts.” [ENDS]

Note for Editors: Martin Levy can be contacted on 07799 040570 or by e-mail at martinlevy@northerncommunists.org.uk

Mr Levy works at Northumbria University and is a well-known local trade unionist. He contested the former Newcastle East & Wallsend constituency for the Communist Party in the 1997, 2001 and 2005 general elections, and was on the North East candidate list for the No2EU - Yes to Democracy campaign in the 2009 European Parliamentary election.

Speaking today, Mr Levy said “The spotlight is on the scandal of MPs’ allowances, but this is nothing compared to the massive fraud that is being perpetrated by the tiny minority of super-rich and their friends in big business, investment banks and private equity companies in Britain and around the world.

“It is their pursuit of superprofit that led to the credit crunch of 2008 and the economic crisis that has followed it. Now working people are being expected to pay for the crisis with their jobs, pay, pensions and public services, although it is the crooks in high finance who are responsible and are getting away scot-free.

“The capitalist system has failed Britain. The Communist Party will be campaigning in the election for a different agenda, for a left wing programme of alternative policies, policies for the millions, not for the millionaires.”

These policies include:

• Tax the rich and big business profits.
• Substantially raise pensions, benefits and the minimum wage.
• Stop subsidising the railways and the banks – take them all into public ownership.
• Invest public money in public services and productive industry.
• Cut household gas and electricity tariffs.
• Take the energy sector into public ownership and invest in renewable non-nuclear resources.
• Freeze supermarket prices.
• Scrap nuclear weapons and switch military production to civilian use.
• Withdraw British troops from Afghanistan immediately.

Contact details:
Martin Levy (candidate): t: 07799 040570
e: martinlevy@northerncommunists.org.uk

Klemens Veth (agent): t: 07799 195105
e: election@northerncommunists.org.uk