giants heavily involved in North - Royal Dutch/Shell and announced ther cuuU2 profits. BP's amounted to £1.6 per cent increase from the orevious vear. Shell did better, they made pront the here is an interesting £441.5m These profits combined are approximately half of the public deficit which Howe used as the reason for his 'soak cuts other words, if these profits had been seized and used By lending the money, the banks grow richer and richer. Al the top four banks have now announced year's profits.
did best Dalkiays ErO.
of f529 4m. Then came National Westminster Midland £315.5m and Lloyds with £276m. Added up, the profit of the big four banks came to £1.5 billion Compare this figure with the spending announced at the year. A massive £358m was cut Slumt Sull showed that not clarify elderly and the CHAR, : saved at ine expense o Price 75p.
necessary if private profit is Du before need; if the oil barons and the City of London bankers are given the elderly, the The Tory will mean an increase of poverty. It means a loss in real earning power of the majority people. But for others, Sir Geoffrey and the whole philosophy of the Tory goveruuen offer windfall after another. A case of Howe lucky for some. increased suffering. and hardship for the poorest and most vuinerable The Social Security Bill is a major attack on the welfare state, and marks a significant change in the everyone should at least be insulated from poverty. Ine tory government is soaklg the poor to provide tax cuts for the rich.
*Benefits of Discretion, published by 27 John Adam St, London WC2