Springingtiger's Blog


A Disappointing Business Week.

It has been yet another week of being disappointed by British businesses. I watched the Panorama program on Britain’s New Banking Scandal. It is appalling that our banks are once again being exposed for mis-selling financial products; this time refusing loans to businesses unless they bought expensive hedges that have cost people their livelhoods and even their homes. Another banking scandal and yet we still allow the banking industry to regulate itself.

In the face of complaints about high domestic energy prices despite the huge profits enjoyed by the power companies,  and threats from Labour to peg prices,  the response of the power suppliers has been to put up prices by ten percent. They are having a laugh,  but ordinary consumers are not laughing. 

In the background to all this has been the industrial action at Grangemouth. Ineos is determined to cut their staff bills and appears to have little concern for staff morale. So while Ineos attacks the pay and pensions of the workers, the company is owned by a billionaire who will never have to worry whether he can survive on his pension.

It is a disappointing week where it has been apparent that Britain’s business owners have nothing but contempt for both their customers and employees. You may wonder how they can treat people as they do, the problem is that they know they can get away with it. As long as there is a Conservative government they will continue to get away with it,  and as long as Scotland can have a Conservative government, for which they didn’t vote, imposed upon them,  they will be compelled to endure the unethical practices of British industry and of the Westminster government.

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