Thats capitalism - WS99

Date:

Just 1% of the population owns 34% of the wealth in the 26 counties (excluding the value of residential housing). That’s according to the Bank of Ireland report ‘The Wealth of the Nation’.

***

May saw absolutely no job losses announced. May was also the month of the Dail election. Did Fianna Fail ask their business pals to hold off any bad news? In June things got back to ‘normal’ with job losses at Eircom, Dell, Lapple, Wrapite, Molex, the ESB and Hovid.

****

While ‘partnership’ agreements have restricted most workers’ pay rises to less than 5% a year, the richest 1% have seen an average increase in their wealth of 13.7% each year since 1995.Liam O’Mahony, chief executive of Cement Roadstone, took home €11.8 million last year. That’s €32,000 a day!


From Workers Solidarity 99, September October 2007

Download the PDF file

Like what you're reading?
Find out when we publish more via the
WSM Facebook
& WSM Twitter