Last week, as the first stage of the Conservative leadership contest reached its climax, our caretaker government introduced a piece of legislation which can best be described as a Speculator’s Charter. If passed in the autumn, the Financial Services and Markets Bill – drawn up by Rishi Sunak’s Treasury and introduced by the Cabinet that still contains Liz Truss – would unleash a wave of dangerous financial trading, fuelling volatility in the economy and further driving up the prices of basic commodities. In the middle of a cost of living crisis, with people across the world struggling to pay for food and energy, it’s perverse.
It’s 15 years now since the financial crash showed up the global economy as a giant casino, with no care for the livelihoods of ordinary people or the health of our planet. When things go wrong, the poorest pay the price, while the bankers are bailed out. In fact, that logic of making a quick buck and throwing the cost onto the rest of society and future generations, has seen our economy hollowed out. Modern businesses have started to consume themselves in order to hand over wealth to their
— source globaljustice.org.uk | Nick Dearden | 26 Jul 2022