Published in the Morning Star
(Monday 02 March 2009)
Picture: (from left) Professor Prem Sikka, Rozanne Foyer and Katy Clark MP
THE economic crisis facing the people of Britain is unprecedented, the Scottish Morning Star spring conference in Glasgow heard on Sunday.
Picture: (from left) Professor Prem Sikka, Rozanne Foyer and Katy Clark MP THE economic crisis facing the people of Britain is unprecedented, the Scottish Morning Star spring conference in Glasgow heard on Sunday.
Essex University Professor Prem Sikka told delegates that never before have individual corporations been able to bankrupt whole countries, writes Malcolm Burns in Glasgow.
Professor Sikka said the time had come to "democratise control" of the economy.
"We should rescue the retail side of the banks, nationalise them and turn them into mutuals and co-operatives," he said.
"Employees should vote on executive remuneration. Will they really allow fat-cat salaries?
"We should have a maximum wage for directors of perhaps 10 times the median wage in the company. And there should be progressive taxation."
Labour MP Katy Clark pointed out "ordinary people are now talking the language of the left.
"But we need to talk the language of ordinary people to connect with them and give a lead," she said. "We need to get out and show that socialist ideas have the solution."
Scottish National Party MSP John Wilson said that, although he was not speaking for the minority Scottish goverment, he was prepared to speak to it and raise socialist ideas.
"The actions of ministers like Mandelson privatising Royal Mail show that they don't recognise that the capitalist system has failed us," he said.
Professor Sikka said the time had come to "democratise control" of the economy.
"We should rescue the retail side of the banks, nationalise them and turn them into mutuals and co-operatives," he said.
"Employees should vote on executive remuneration. Will they really allow fat-cat salaries?
"We should have a maximum wage for directors of perhaps 10 times the median wage in the company. And there should be progressive taxation."
Labour MP Katy Clark pointed out "ordinary people are now talking the language of the left.
"But we need to talk the language of ordinary people to connect with them and give a lead," she said. "We need to get out and show that socialist ideas have the solution."
Scottish National Party MSP John Wilson said that, although he was not speaking for the minority Scottish goverment, he was prepared to speak to it and raise socialist ideas.
"The actions of ministers like Mandelson privatising Royal Mail show that they don't recognise that the capitalist system has failed us," he said.
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