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ing like never before. never had a government they liked so much.
banking system is on a scale which, EDCINE the oil industry, totally dwarfs the rest of the economy. One bank alone, Barclay's, in 1981, made more profit than the entire private hanking system of WOSE Germany put So enormous are the banks In Tact they make more profit than all the other private banks of the EEC combined.
While British industry has been crashing into the red the banks have been booming as never before. In 1979, the first year of Thatcher's government, the Big Four clearing hanks preparent to soned by percent stand at a record £1.56 billion.
Despite the small cuts micrest in the following year they auce to stand al 21.40 billion. In 1981 they leapt to £1.68 billion.
The bank profits wind fall tax of £316 million in 1981 was a flea-bite, both THE BRITISH ECONOMY is in a dreadful state. For working people it certainly is. But not for For some the capitalist economy is boomBritain's banks have because it was so low and because it did not touch wide sectors of the banking system. And to meet cost the banks simply increased their charges.
This bank finance has not been used in any major to promote jobs by creating industry. Tapan in 1974-78 around 15 percent of the national CLUEURLY bank loans to industry. In West Germany it was eight percent. Britain Oil The banks are involved however two boom areas of the economy. One is North Sea Oil Britain's most profitable inbut which creates virtually no major number of jobs.
The second industrial leasing: This is used by industrial comCALLS CIRCEUCEV an alternative to capital spending themselves. Britain's Japan Swiss trustee accounts Singapore West Germany 2 Bahrain BRITAIN'S BIG BANKS Barclay National Westminste Lloyd's Standard and Chartered Midland Royal Bank of Scotland tax laws allow firms leasing out equipment to claim percent capital depreciation against tax.
The result was that in 1980. in deepening InHaydon's "betrayal' of his COILE coupled Anne's "betrayal' Haydon — all the fine tuning was missing. The pro blems are neatly packaged now. George is the only goody lell.
Still, something of the aroma lingered on.
Karla and Smiley, two old knights from the looking glass War, each in turn brought low by their (Smiley overlooked the mole for so long because he was entangled with Anne; Karla only wants 'the Best his errant daughter). There they were, staring at each other across EP Thompson calls the central fracture in world politics, the German border.
Both old. Both from time. Karla was one of Stalin's monks. remorseless butcher in the name of an abstraction. We can guess his revulsion at the time-serving, flabby there was privatisation of naCionalisec industry! WORLD BANKING CENTRES JUnited States 5 tnousand millic Britain's banks lend twice as much as any other.
Bank profits 1981-82 E million dustrial recession, and when the profits of the rest of industry were plummetting, the leasing subsidiary of the Midland Bank increased its post-tax profits ways of the postKhrushchev bureaucrats.
Yet Carre acute enough to suggest Karla's VISIOn stronger than Smiley's.
They meet in the '30 while Britain is presiding over decaying indian Empire. And Smiley's cer tainties dissolve into dust.
He loses. The British rul ing class loses. Even the horrific HOUSTONEL of Stalin's Russia cannot extinguish the spark of a new society. a new hope for humanity that is worth every sacrifice.
Smiley's People reduces the collision between two social systems to the contest berween two individuals - both out of time and place. We are warned to be sad or understanding - bur in the end we are all in dividuals, and all individuals are the same.
There are no victories or And in high places COPAI oiler and gnashing and muci By John Ross from E52 million to E58 million.
The leasing subsidiary of Barclays's profits by 26 percent in the SHES VEG The banks are above all international opera tions and were the tremendous gainers abolition of exchange controls by Thatcher government 1979 Midland Bank interna tonal division increased profits by 30 percent in a single year.
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HEORD So New Book hop. 335 10% Chunk ever walker Book,