The Big Society Bail-In brings protest to your local bank. UK Uncut has launched the Big Society Bail-In and will be targetting banks.
Photograph: Chris Ratcliffe/Rex Features Look through the newspapers this month and two points will become immediately clear. First, the government is cutting, privatising and changing the very nature of social security and public goods that were won through the 20th century. Every aspect of what was fought for by generations seems under threat – from selling off the forests, privatising health provision, closing the libraries and swimming pools, and scrapping rural bus routes.
Second, the banks are doing just fine. The two, of course, are linked. The £2.5bn so-called "raid" on the banks is a levy of around 0.075% of their balance sheets. Tax avoidance protesters turn their attention to Britain's banks. Britain's fastest-growing protest movement is to target scores of high street banks in the next stage of its campaign against government cuts and corporate tax avoidance.
Activists from UK Uncut have, over the past five months, caused the temporary closure of more than 100 branches of high street stores accused of avoiding millions of pounds in tax. The group will stage its first national day of action against UK banks on 19 February. "The idea this time is not to shut these places down but to open up high street banks, occupying them and using them for things that may be more useful for the community," said Daniel Garvin from the group.
He and other protesters have mobilised thousands of activists using the Twitter hashtag #UKuncut since the group was formed in October. The protests, which come as banks reveal multimillion-pound bonus packages over the next few weeks, will involve a range of peaceful – and creative – direct actions. UKUncut How to do a Bail-in. UK Uncut: Just so everyone's clear:... UK Uncut: The Bail-In has begun! On... The Big Society Bail-In - Barclays. UK Uncut Barclays Bank Protest in Tunbridge Wells. What Is A Bail-In? Saturday 19th February will see the start of something rather special: the second public takeover of Britain’s banks.
The first takeover, or “bail-out” was astonishingly expensive and not much fun. The public was left billions lighter in the pocket, with little more to show for it than their names in the fine print. What did we get for our money? Greater regulation to ensure the crash didn't happen again? No. Luckily, The Big Society Bail-In is much cheaper, more effective and, crucially, much more fun. Since October, the campaign against tax dodgers, the Big Society Revenue and Customs consistently found spectacular and imaginative ways to make tax avoiding corporations pay. Our next wave of actions will be even more exciting. UK Uncut is your movement.
This Saturday we target Barclays.
Barclays-flyer-4. "British taxpayers risk losing their own tax pounds to American firms UK. The Prime Minister made a passionate defence of his flagship scheme, admitting it would not make him popular or win elections.
However, his pledge that the Big Society was not a cover for big spending cuts was undermined by growing evidence that private firms rather than voluntary groups could land many of the new contracts to run public services. Mr Cameron faced further controversy by appointing Sir Ronald Cohen, a private equity boss, philanthropist and Labour Party donor, as an adviser on setting up his Big Society Bank.
Sir Ronald is understood to be non-domiciled for tax purposes, meaning he can avoid income and capital gains tax on his foreign earnings. Friends of Sir Ronald insisted he paid "a lot of tax" in the UK and said he had worked for 10 years on the Big Society ideas. Ministers say they are relaxed about having "a Starbucks in the library" if that keeps libraries open.
UK firms will also bid for library contracts. Banks under pressure to reveal how much tax they pay in Britain. By Simon WatkinsUPDATED: 22:11 GMT, 12 February 2011 Banks face demands to reveal exactly how much direct tax they pay in Britain, amid claims that they exaggerate their contribution and are using losses during the financial crisis to cut future tax bills.
Though the big banks are expected to report profits for 2010 of about £25 billion over the next two weeks, experts predict their corporation tax bill will be 'minimal' once they have offset previous losses against last year's surpluses. Barclays, which will lead the reporting season this week, has about £1 billion in what are known as deferred tax assets due to losses made in the crisis. But this is one of the lowest. Under pressure: UK banks are now facing increasing demands to make public exactly how much they contribute in taxes The latest year-end accounts, for 2009, show Lloyds has about £4 billion in such tax assets while Royal Bank of Scotland has about £5.1 billion and HSBC about £4.2 billion.
Additional reporting by Lawrie Homes. Barclays.