The Emperor's New Clothes (2015) - full transcript

[instrumental music]

[siren wailing]

Many years ago
there lived an emperor

who cared so enormously
for beautiful new clothes

that he spent
all his money on them.

He had a coat for
every hour of the day.

Then one day, 2 cheats came.

A weaver and a tailor.

They persuaded the emperor
and courtiers

that they could weave
beautiful clothes

that only people who
are stupid cannot see.



"They would be capital
clothes," thought the emperor.

And he gave the 2 cheats
a great deal of cash in hand

so that they might
begin their work at once.

They immediately demanded

the finest silk
and the costliest gold.

This they put
into their own pockets

and worked at the empty
looms till late at night.

Everyone pretended
they could see

the cloth the weaver
was making.

The night before
the procession

the weaver
and tailor pretended to be

hard at work,
completing the clothes.

Now the clothes are ready.

When the emperor put on
the new clothes he said..



"...one would think
one had nothing on at all

they are so light."

The procession began
and everyone

pretended they could
see the clothes

until at last a child
in the crowd shouted out

"Oh, look.
He's got nothing on!"

And then, straight away,
the whole crowd shouted

"He has nothing on!"

[instrumental music]

Hans Christian Andersen
doesn't say

what happened to the cheats.

Everything you're gonna hear
about in this film

you already know.

You might not know
the exact figures

but you know the big issue.

The rich are getting richer.

Inequality is getting greater..

...but it doesn't have
to be like this.

It can be different.

Of course, rich people
like you to think

that it has to be this way

so they, we have to be rich.

But it doesn't.

Things can change.

Things do change.

This is Grays in Essex
where I grew up.

I started at Little Thurrock
Primary School

the year that
Margaret Thatcher got elected.

And I would just
like to remember

some words
of St. Francis of Assisi.

"Lord, make me
a channel of thy peace

"that where there is hatred,
I may bring love.

"That where there is wrong

I may bring the spirit
of forgiveness."

It always seemed a strange
choice for Margaret Thatcher.

A bold choice.

"Where there is error,
may we bring truth.

Where there is doubt,
may we bring faith."

That's a bit more
like the Thatcher

we came to know and love.

She is the truth,
we must have faith in her.

She is basically Jesus
with a hair helmet on.

A year later, she was joined
by Ronald Reagan

the new
President of America.

They were both followers
of an economist

called Milton Friedman.

His theories were
called "The Chicago School"

because that is where
he taught in the 1950s.

For years, he was on

the lunatic fringe
of economics.

But when Thatcher and Reagan
came to power

his ideas became
the new orthodoxy.

Cut government spending,
cut tax rates

reduce government ownership
and operation of industries

or regulation of industry.

This free market
fundamentalism

was more than
just a set of policies.

It was a way of looking
at the world.

It took our worst
instincts of selfishness

and greed and made
them the basis

for how our society
should be organized.

For the last
35 years, these ideas

have dominated
both America and Britain.

We've been told
let the rich get richer

and we will all benefit.

But all that has happened
is the gap has got bigger and

bigger between the richest
1% and everybody else.

[indistinct chatter]

Hello.

We have a 100 children here,
is that correct?

Are there a 100 of you?

(all)
Yes.

If we imagine the wage
of the ordinary worker

to be 25,000 pounds, then

in 1979,
the richest 1% earned..

50,000.

Show me the bar.

150,000 pounds.

Now, everyone, is that fair?

(all)
No.

Now if the 99% are still

earning 25,000 pounds

the richest 1% earn?

375,000.

Roxie's the 1%
has gone up to

375,000 pounds, while yours

the 99%, has stayed the same.

Is that fair?

(all)
No!

Roxie, do you think
it's fair?

No.

Even Roxie doesn't
think it's fair.

Grays, as the name suggests,
is a normal town.

You could say a normal,
suburban Essex town

or a normal British town or a
normal Northern European town.

Give us a chip?

Come on.

Cheers. Thanks.

Or even a normal town

in a secular,
western democracy.

Thank you, man.

Alright, mate. Do you, uh,
do you remember me?

I used to play with you
down your road?

- Who is it, Spencer..
- Dean.

Dean! How the fuck are you?

- Your brother's Warren.
- That's it.

Leigh, Pizzazz!

[chuckles]
Oh, Pizzazz.

Pizzazz has become a church.
They call that progress.

There used to be
a bloody good disco.

Now what is it?
A church. Oh, Christ.

I remember being in there
as a little kid, reading books.

I remember being in there,
like getting nicked.

I remember getting
beaten up there

and then it becomes
like a zoo.

- I'm writing a book.
- Go on.

I'm writing a book called
"Temple of Night."

Why don't you
tell me about it

in the middle
of the fucking road?

Well, I'm going to
'cause that's

how you promote a book.
How are you doing, Russell?

- I'm alright, mate.
- I'm a West Ham supporter.

- Yeah?
- And, uh, well.

I'm... I'm writing a book called

"Temple of Night,
Close to the Edge."

- And me cousin's...
- What's it about?

It's about my life
and me relation's book

Jimmy Tibbs is out
at the moment.

- Oh, my God.
- "Sparring With Life."

[indistinct chatter]

- Hello.
- Hello

[audience applauds]

So we're gonna
do, like, a bit of a readin'.

Grays was never one of the
seven wonders of the world.

Grays was never
an estuary Shangri-La.

I suppose, in truth, it was
always a bit of a dump.

But coming back now

it's shocking how much sadder

this lesser
depleted modern Grays is

with its charity
and betting shops

its food banks
and Wonga loans.

But what is most shocking

is that Grays is still a normal
town, an average town.

This is happening everywhere.

The rich are getting richer.
Everyone else is struggling.

[instrumental music]

Them's called knick-knacks,
ain't it?

But they're the only
knick-knacks I've got.

There's nothing wrong
with having knick-knacks.

- No.
- I like 'em all there.

Yeah, I'd wanna play with them
though, if I was a bit younger.

If I was 34..

[laughing]

...I think I'd muck around
with them.

- Any others?
- No.

- Just her, my one and only.
- Like me?

Yeah.

Yeah. Hard is it?

It is hard sometimes.

What's your job then?

Um, I work
in local government.

Can I ask how much you earn?
Is that...

I'm on about 20,000 a year.

Don't think that's enough.

Well.. I mean, uh, is it?

No, no. No.

I have to rely
on the child benefit.

- Mmm.
- Tax credits, you know.

Y... you just do your best.

You just make sacrifices

you know, don't go out much.

I was doing drama originally,
but I didn't like it.

There's no money in any
of that. Knock that on the head.

What about university?
You gonna go?

I'd like to, yeah,
I'm... I'm not 100% sure

what I want to do yet,
but I would like to go

but it's just that
the cost side of things.

Mm.

I... I do... don't want to,
like

not... not go to university.

I'd really like to go,
but it's just that worrying

that if there is enough money
and if there isn't

what am I meant to do?

Because I don't want like,
mum to have money troubles

I don't want.. Like, I don't want
to have money troubles myself.

I... I want the best
for my child.

I want the best.

The reason I only
have one child

was because I couldn't afford

to have any more children
and I wanted the best

for my child
and I'm so proud of her.

But it... it does frighten me

for her to struggle
at the start of her life..

...you know, her adult life

because she wants an education.

It's not fair.

I want her to achieve.

And, you know, we'll have to

get round it
at the end of the day.

I don't want her missing out.
We'll have to do something.

I fare-dodged my way
out of Grays

on the Fenchurch Street Train

which transports
commuting workers

from Essex
to the city of London.

In the '80s
you could see them

building Canary Wharf
from the train.

A whole new town for bankers.

Fifteen million
square feet of offices.

Home to HSBC, Morgan Stanley

Citibank, Bank Of America,
Credit Suisse.

Ah. Never lose it.

Joseph Campbell said

"If you want to understand
what's most important

"to a society, don't examine
its art or literature

simply look at
its biggest buildings."

In modern western cities

the biggest buildings
are the banks.

Bloody great towers
of steel and glass.

The tallest buildings.
Phallic. Shiny.

Glass that reflects
rather than reveals.

And then, in 2008

all these palaces
came crashing down.

Good evening,
it's been a day of turmoil

on the world's money markets

after the collapse
of Lehman Brothers.

One of America's biggest
investment banks.

Bank of America
is taking over

Merrill Lynch in a
fifty billion dollar deal.

World's biggest insurance
company could be heading for..

...in 9 hours, we'll hear
the rescue plan

they hope will save..

This morning shares in RBS

to use the technical
term, tanked.

What started in Wall Street
has come to your high street.

Lloyds TSB in emergency talks

to try to take over
battered HBOS.

Share prices continued
to tumble in the aftermath

of the Lehman collapse.

Karl Marx must be bobbing
about in his grave tonight.

"When capitalism fails

the state provides,"
he might have said.

The US treasury is constructing
a massive taxpayer funded

pot of cash to buy worthless
debt from the banks.

In the UK, we gave the banks

133 billion pounds.

More than 4000 pounds
per taxpayer.

In the US, they pumped in

two and a half
trillion dollars.

What happened to the bankers?

Apart from a few people
carrying cardboard boxes

out of their offices,
I don't remember

there being many
consequences at all.

Just some people standing by

a revolving door,
looking confused.

In Britain, since the crash

bankers have paid themselves

more than a hundred
billion pounds in bonuses.

Mr. Hornby, do you plan to
give up any of your pension?

- Good afternoon.
- Mr. Hornby?

Will you give up
any of your pension?

Andy Hornby was the man
in charge at HBOS.

A bank created a few years
earlier by the merger

of the Bank of Scotland and
the Halifax Building Society.

The Halifax was the biggest
of the old building societies.

Simple, local,
mutually owned organizations

set up to help
people buy a house.

For more than a century

these societies worked well.

Then, the free market zealots

turned them into
commercial banks.

Mr. Hornby,
will you say anything?

Now the bailout of HBOS

was costing 20 billion pounds.

Do you decline
to say anything at all?

So what happened
to Andy Hornby?

Is it okay for you...

He went off
to become the CEO of Boots

and then
the bookies, Coral.

He didn't pay back the millions
he had earned from HBOS.

He even made sure he kept his

240,000 pounds a year pension.

The only people the bankers
seemed interested in

were their shareholders.

Our shareholders, all of us

have lost a great deal of money.

I... I've apologized in full
and am happy to do so again

at the public meeting
of our shareholders.

It has affected shareholders.

We were particularly
concerned at

the serious impact
on shareholders.

In 2010,
the average pay of CEOs

in big banks
was 6.4 million pounds.

Let's think about
that for a bit.

Two years after the financial
crash, two years after the whole

banking system had been bailed
out by the British taxpayer

the bosses of the banks
were still taking home

300 times the average UK wage.

Think of the tycoon
in the glass tower.

Think of the man who gets up
and leaves the house

before dawn to go out
and clean windows.

So, a cleaner working
in the city

would have to work for more
than 300 years

to make the same amount their
boss would make in a year.

So if they started work when
America was still

part of the British empire

and were cleaning during
the French Revolution

then when Napoleon was
getting beaten by Wellington

God bless him, at Waterloo.

If they work through the whole
of Queen Victoria's reign

when Tolstoy was writing "War
and Peace," that took ages

all the way through
the Boer War

the expeditions to Antarctica,
the First World War

that game of football
on Christmas eve

the Great Depression,
the Second World War

Hitler, all that lot,
the swinging '60s

sexual revolution,
the Peel-Thatcher's '80s

selling everything off,
right up to now..

...they would of just this
minute earned what their boss

makes in one year
without even really trying.

And that's not
exposing some sort of scandal

that we should
all be shocked about.

People cleaning the London
banks are being paid

the London living wage.

This is what we've come
to expect as normal.

People in the same city..

...in the same street.

The same office, but living
in different worlds.

In the same office,
people earning two

or three hundred times what
the next person is earning.

We don't worry about it.

We don't even
really think about it.

Let's look at what happened..

...at the Royal Bank
of Scotland.

A bank where one individual
was so focused

on his own success,
his own self-aggrandizement

that he put at risk
the livelihood

of the 200,000 people who worked
for the bank.

The 15 million people
who entrusted the bank

with their life savings.

The 60 million taxpayers
who had to bailout the bank.

Well, I'm here again at RBS

because yet again
they've done something wrong

but they're not the only ones,
there's 5 UK banks

whose foreign exchange traders
ripped off their own clients.

I've sat in a room with
the bosses of this bank

and all the other banks.

And I've sat in these rooms
where they're pleading

in the most gentile tones,
don't overregulate us.

Don't make it possible
for us to go to jail.

More or less every bank

has been found to have
broken the law.

In my sector,
UK utility sector

100% of the companies
were taken over

were without doubt,
um, preceded by

a huge amount
of insider trading.

A good example is to think of

uh, a casino where you're
sitting at a, at a table

and the dealer
is dealing everyone cards.

The problem with banks became
that there was now

an asymmetric information
problem where

the dealer or the bank could
see everyone else's cards

yet was still
betting in the game.

You'd get shot
for that in the Wild West.

[gunshot]

In the 1980s the... the last
massive financial crisis

in the States was
the savings and loans crisis.

30,000 people who worked
in financial services

were criminally prosecuted

and 3,000
of them went to prison.

Do you know what the numbers
are for this time around?

Zero and zero.

Well, it might be because
all the organizations that got

set up to police the banking
industry are run by bankers.

So it's like the same person

can have done the crime
and then judge himself.

"Oh, anyone could've done that."

"It was you that done it."

"Yeah, I know,
but I don't think I meant it."

"Innocent."

The city of London is one of

the biggest financial
centers in the world.

Every year it chooses
a new lord mayor

from the medieval guilds.

Like the company of tailors

and the company of weavers.

Of course, the people
in the guilds

aren't weavers
or tailors anymore

they're bankers
or bond dealers

traders or hedge fund
managers.

It's all a pretense.

This year's mayor
is Alan Yarrow.

He's in the worshipful
company of fishmongers.

He ain't a fishmonger though,
he's a banker.

He was also on the committee

of the Financial
Services Authority.

The group that was supposed
to be policing the banks

when all their illegal
activities took place.

We've got to have some
bankers going to prison.

They have to be accountable,
they have to realize

that there is consequence

for criminal behavior.

People showing indifference
to right and wrong.

People with
a twisted moral code.

People with a complete
absence of self-restraint.

Crime without punishment.
Rights without responsibilities.

Selfishness.

Behaving as though your
choices have no consequence.

Unfortunately,
David Cameron wasn't talking

about bankers then,
he was talking about looters.

I was thinking
"Why is he standing

in front of the graffiti?"

I mean, there's some
graffiti there so

mostly were talking about
black people, unfortunately.

Hundreds of people
were arrested

during the riots in 2011.

The chief prosecutor said

"One thing
we learned in the disorder

"is that if we get
people in court fast

"and get them sentenced,
it acts as a deterrent.

"It made people think twice.

"They could see
the criminal justice system

"responding and that sent
a really strong message

from society
that this was unacceptable."

[indistinct shouting]

The police were so
keen to catch people

that they drove
around in this van.

I got caught up
in Lewisham at first.

It was on the first day
that it happened

so I just thought to myself
"Let me get home."

On my way home, got to Catford

and I was stopped from
getting to my house.

- Who by? What do you mean?
- Police.

They'd cordoned off this road.

To... to prevent people from
getting to PC World

and Curry's
and all that across the road.

PC World?

- Yeah. That place.
- Well, he was on his own.

And the officers could have
let him go home.

I could have gone,
they could have said alright, go on home.

So then I bumped into people
that I knew

'cause it's Catford.
It's my area.

And unfortunately for me,
I got caught up in it.

And I picked up something
on the way out.

- What did you get?
- iPod dock or something.

An iPod dock,
so what's the value of that?

100, 150.
Something like that.

So they charged me for theft.

- Theft?
- Yeah.

And they sentenced me,
they sentenced me 14 months

dropped and that
was dropped from 21.

It was only dropped from 21

because of my occupation
at the time.

I was teaching, my character
references were flawless...

What do you do?

I teach... teach dance.

How much of the
14 did you..

Three and a half in.

But he still had to go into
prison, Russell.

And he still had to do
3 bloody months, you know.

- 3 months in Feltham?
- Broke my heart.

I was in there for Christmas
and New Year's, that was mad.

So, what's it like
in Feltham?

Always thought for young
offenders, it must be horrible.

It was a little
bit easier for me

at the time I went in there,
because

everyone was kind of
in there for the riots.

I spoke to people inside.

"Oh, I stole a crate of juices."

"And how long
are you in here for?"

"12 months..". I'm like, "What?"

They're genuinely shocked.

Like, I... I couldn't
believe it.

I was like, "Oh, my gosh."

Water. Juice.

In total, more than 1200
people were jailed

and their sentences added up
to more than 1800 years

for stealing
trainers and that.

The youngest of them
was a little 11-year-old boy.

And what about the bankers?

Did we set up special fast track
24-hour courts

for them to act as a deterrent?

Did we send a strong message

that their behavior
was unacceptable, irresponsible?

How many bankers went to jail

for ripping off their
customers by selling

23 billion pounds worth of PPI
which they didn't need?

Or what about Standard
Chartered money laundering

involving 60,000
illegal transactions

adding up to $250 billion?

Or HSBC's money laundering?

How many bankers
will go to prison

for the illegal rigging
of the Libor interest rates

which control trillions
of dollars of transactions?

Or the latest
crime of the bankers.

The foreign
exchange rate scandal.

The banks have
paid billions in fines.

But what do fines matter
to people who can print money?

When are some bankers
gonna start going to prison?

Alright, lads. How's it going?

We're just trying to get
some money back off the banks.

RBS has been found guilty

of illegal market rigging.

If you've seen
any of the men on this van

please do not attempt
to approach them.

They're crafty.

RBS, HSBC, Citibank

JP Morgan, UBS and Barclays

were all found guilty, hello,

of illegal behavior.

Since the bailout,
George Osborne

made 81 billion pounds
worth of cuts.

During the same timeframe,
80 billion pound worth

of banker
bonuses has been awarded.

We wonder... how can you
keep having those bonuses?

I mean, economically
I'm not an expert

but it just doesn't
seem fair, does it?

- Hello.
- Hello.

- Sorry, mate.
- I just need one, like..

I've got to just go into..
I'm popping into RBS.

Hello. I've got an appointment
to meet Ross McEwan.

Right, okay.

Could you just go to next
to the door please, mister?

- Just next to the door...
- Ross McEwan.

But I've sent an email
already to speak to him.

I cannot help you, sir.

A way from reception,
please, okay?

- Shall I sit over here?
- Yes, you can have a seat there.

- Yeah?
- Have a seat.

Will you sit with me?

No, I'm not gonna
sit with you.

Just have a seat, please.

Last year,
8 billion was lost

and yet 500 million
paid out in bonuses.

...take a seat and someone
is going to attend to you

in a minute, so,
if you just take a seat...

I know, just running through
some of the questions.

I... I wouldn't..
I'm not in a position

to answer your question.

What?

Sit. Someone is... someone's
going to come attend to you.

I'm starting
to think that you're involved

in some high level
financial skullduggery.

Someone is going to come
attend to you...

Did you know about
the 500 million

in bonuses last year?
Did you get some of that?

I would just ask you to take
a seat, sir. Just take a seat.

That makes me think you maybe
got a couple of million bonus.

Someone's going
to come attend to you...

Couple of million?
3 million?

- Tell me if I'm getting warm.
- No, just take a seat...

4 million in bonuses.

Even though 8 billion was lost.

- Just take a seat, sir.
- You must've got a fortune.

How much did you get?

- Are you Ross McEwan?
- No.

And did you get a 3.2 million
golden hello?

He's got a golden shower.

[Russell laughs]

Don't ruin it, you scum.

Also I'm looking
for Fred Goodwin.

He continues to get
a 300 grand a year pension

in spite
of a 46 billion pay-out

for, uh, the RBS
from public money.

Hello, there. Alright.

How did the banks
get into this mess?

[bell rings]

The markets
used to be regulated

but when the free market
fundamentalists came to power

they tore up the rules.

They called it the Big Bang.

"No one here tonight

"needs reminding
that the Big Bang

is only a beginning."

Just before the Big Bang

the average
number of daily trades

at the London Stock Exchange
was 20,000

amounting to about
700 million pounds

of shares changing hands.

In 2010,
the average daily turnover

in the city was
1.2 trillion pounds.

That's a big number.

Put simply,
the amount of trades

is now more than a thousand
times bigger

than it was before the Big Bang.

[indistinct chattering]

With all this money sloshing
around the markets

they're bound to be volatile.

In 1987,
there was Black Monday.

Markets fell spectacularly.

In 1992, there was
Black Wednesday

when currency speculators
made fortunes

betting against the pound.

In 1997, there was
the Asian Contagion.

Six billion dollars
disappeared

from the stock markets
of Asia.

Everybody accepted that
the financial crisis

in 2008 was clearly a failure
of free market capitalism.

Even George Osborne.

The banks
and those regulating them

believed that the bubble
would never stop growing.

That the markets were always
self-correcting.

That greed was always good,
that their Ponzi schemes

would never collapse

that none of the debts
would ever turn bad.

Even George W. Bush.

The market is not functioning
properly.

There has been a widespread
loss of confidence.

Even Alan Greenspan.

We are in the midst of a once
in a century credit tsunami.

I've found a flaw

I don't know how significant
or permanent it is

but I have been
very distressed by that fact.

The crisis was a crisis
of ideas as well as

a near terminal crisis
of capitalism.

Milton Friedman said

"Every crisis
is an opportunity."

[indistinct shouting]

It should have been
an opportunity

to change direction.

To change the system.

It still can be.

[glass shattering]

In New York and London, the
financial centers of the world

people came out onto
the streets to demand change.

The Occupy movement
was founded.

[indistinct chattering]

I imagined for a moment
as I wandered among them

that this is what
the '60s must've felt like.

I remember describing
it as being like a

sort of a carnival of canvas.

It was incredibly optimistic.

It was like
a spiritual experience.

And what we did through Occupy

was that we created that space
where people could come

and express their problems
and realize

"It's not just me, and not

and I'm not the only one
getting fucked."

It was that community vibe.

[audience cheering]

Obama was elected in the US
on a tide of optimism

with the rhetoric
of change and hope.

Yes, we can.

(all)
Yes, we can. Yes, we can.

Nearly 2 million people
went to Washington

to witness his inauguration.

[cheering]

Many journalists
made comparisons with FDR.

I, Franklin Delano Roosevelt

do solemnly swear, that I will..

In 1929, there'd been
the biggest financial crash

of the 20th century, followed
by the Great Depression.

The homeless camped out
in front of the White House.

Force was used
to crush protests.

[gunshots]

FDR offered an alternative

to the policies of austerity.

...that the only thing
we have to fear

is fear itself.

When he came to power
in 1933

there was a banking crisis.

He immediately raised
income tax on the richest

to 63% to pay
for his New Deal.

Guns are everywhere.

North, south, east, and west.

In your town and in mine.

He invested the money
in transport

infrastructure
and social housing.

Creating jobs, wealth

and homes for the people.

Every designation
in the United States

of a public low-rent
housing project

is a rededication
of our democracy

to the principle that

all men are created equal.

[indistinct chattering]

In Manhattan,
after the Second World War

the Mitchel-Lama
program built co-op housing

for middle-income families.

Now many of these blocks

are being privatized.

How long have you been here?

44 years.

Well, what would happen
if we do go private..

...this apartment obviously
would be worth, maybe..

...close to a million dollars.

Wow, of course.

So, everyone who's here..

...pretty much wants
to be a lottery winner

and win the big ones.

They envisioned
the apartment more as an

economic asset more
than an actual living space.

People here
have now decided that..

...this is their legacy
to their children

so we should go private
so they can get money

so they can provide
for their children.

Privatization of housing

has also taken place
in Britain.

We are the party
of Thatcher's Right to Buy.

2 million council homes
have been sold off

under the Right to Buy scheme.

Because of this, we now have
2 million people

on waiting lists
for affordable social housing.

But privatization
is still continuing.

Like at the New Era
Estate near where I live.

But the people who live here
are fighting back.

[indistinct chattering]

When they came in,
we signed our new tenancies

for the first of July.

Um, they went up about
160 odd pounds a month.

Richard Benyon is the richest
Tory MP in the country.

They own over 300 properties
in Hackney.

How did they get their money
in the first place, the Benyons?

It was inherited,
their money, wasn't it?

They emerged
from a particular vagina

if you come out of that one,
money comes at ya.

You have got my child sitting
on your lap as you say that.

Yeah.

[laughter]

Remember that there are
children here today

and that this
is a family protest.

As you know, Edward Benyon of
Westbrook has bought our estate

and we are facing
eviction in 2016.

Who made the posters?

Rose, she lives
in this block here.

We've got "Westcrook
leave our homes alone" and..

"Don't let New Era,
be the end of an era."

- Good slogan.
- Yeah.

Who come up with that?

[indistinct chatter]

When you think
of the first rents

that we had just 640 a month

they now gonna wanna
charge that a week.

Now that's de facto,
evicting everyone, innit?

[indistinct chattering]

We pay 9 billion pounds
in housing benefits

that private landlords like
Benyon and Westbrook every year

because there isn't enough
affordable social housing.

[indistinct chattering]

If we want to cut the benefit
bill, we could control

the rents charged
by private landlords.

If that sounds a bit radical,
it's worth remembering

that more than one million
apartments

in New York
have regulated rents.

Even blocks like these
on Central Park West

used to be controlled.

Now apartments
here sell for millions.

What's really important about
it as well is that we're not

just standing back
and allowing it to happen.

I think what's so exciting
about it is that people like us

just normal people,
can actually make a stand.

We did make a difference,
Benyon, the Benyon estates

did pull out
the purchase of the estates

so now it's just about doing
the same to Westbrook.

♪ Hey Westcrook
leave our homes alone ♪♪

Roger Waters might have
something to say about it.

[laughter]

Westbrook has
a long track record

in New York
and not a good one.

I went to City Hall to see
the mayor, Bill de Blasio.

As usual, I was early
so I took the opportunity

to chat to his team.

- Mitchell-Lama.
- The Mitchell-Lama.

He's a nice guy
that Mitchell Lama.

Is he a real person?

No, it's a trick,
you're toying with me.

I'm right behind your five key
principles of job growth.

What's the matter, Michael?
Don't get jealous.

You're the very next person
I'm gonna touch.

[laughs]

Wait till I get him home.
It's ridiculous what we do.

- Is he here?
- Yeah.

You are fucking joking.

You are kidding me, we're not
gonna be late

for a mayor, not again.

Westbrook was a firm that...
uh, ran afoul of the authorities

here in New York City
and New York State.

Westbrook out!
Westbrook out! Westbrook out!

Our city government found
a huge number of violations

of our law by Westbrook and
unfair treatment of tenants

and... and attempts
to interfere with tenants

who organized
for their own rights.

We're here to tell
David Cameron, Boris Johnson

and everyone else
in a position of power

we the residents
of the New Era Estate

are staying in our homes.

[cheering]

The triumph of the ideology
of the free market zealots

is that we no longer believe
in collective action.

Margaret Thatcher called
the unions the Enemy Within.

[cheering]

Through a mixture
of legislation

and brute force
she broke them.

That's one of the reasons
why we've had 6 years

of stagnating wages
for most people

whilst the 1% have been
getting richer and richer

on the back of what is called

"Quantitative easing."

Quantitative easing.

Quanti-ta-ta-tative easing.

The quantitative easing
comes... comes from

the Central Bank saying "Here,
have a load of free money."

- Free money?
- Yeah.

375 billions worth
in... in... in Britain

7 trillion I've calculated,
dollars worldwide, in...

- Of free money?
- Yeah, free money.

Think of it like one of those
like champagne, um, pyramids.

You could, the top,
you know, the top glass

is gonna be the banking system.

It took a long while...

So you've got to fill
all of them up

before you get any champagne
in Detroit.

Yeah, yeah, and... and
surprise, surprise

you won't be surprised
to know that not much

of the cham... champagne
has actually trickled out.

They're all drinking it as
well... on the way down.

Absolutely,
because that's the

that's what
the banking system is.

They printed up
out of thin air

they just decide to create

4 trillion dollars.

With that 4 trillion
they could have given every

non-millionaire household

in the United States
$40,000 each.

But meanwhile since QE started

we've lost 10 million jobs

full-time jobs
in the United States.

We've been gaining
part-time jobs

but we're losing full-time
well-paying jobs.

How did we let this happen?

If you aren't angry
enough to kick a pig

into a ditch, then you've not
understood it properly.

The losses
of the banking system

were taken on by the state

and therefore instead
of having this big a debt

suddenly the state
has this big a debt.

A decade lost to debt.

The damage done by the debts.

We are in a debt crisis.
We must deal with our debts.

[indistinct chattering]

At the end
of the Second World War

public debt was twice
as high as it is now.

But we didn't have austerity.

There was a belief that things
should be fairer.

That there should be equality
of opportunity for everyone.

We invested in schools,
hospitals

social housing, transport.

This investment made
the economy grow.

Which gave us the money
to pay off the debt.

For the last 5 years
we've had austerity

we've cut investment,
wages has stagnated

and our debt is bigger now
than it was 5 years ago.

Turning the crisis
from a banking crisis

into what we call
a fiscal crisis

of the state finances
was the mechanism

whereby ordinary people
all over the world

were gonna be forced to pay..

It's a con also.
It's a switcheroo.

It's the Tennessee switcheroo.

They caused it,
they paid for it.

Our public sector pension
system is unaffordable.

There are programmers
that will be cut.

There are jobs
that will be lost.

It means finding new sources
of income to support

our universities and colleges.

[indistinct chattering]

That source of income
was the students themselves.

It was just bad luck.

If I were a month older,
I would have paid 3 grand fee

to go a year for university
and now I'm paying 9 grand.

So by the time I leave
university, I've, um

36 grand of debt.
I'm never gonna pay that off.

Most people are never
gonna pay that off.

Now, as of 2014,
the average debt

of students is 44,000 pounds.

I'm doing med,
I'm doing medicine so..

...basically I pay
9 grand a year

and I came in just
as the 9 grand fee rise.

Um, so on tuition alone
I'm paying 54 grand

and then because
I'm from a low-income background

like she said, um, I also
get the higher loan.

Um, so across the 6 years

I'm probably gonna be in debt

of at least 80,000
if not more than that.

- Wow.
- Yeah.

So I know people that just
didn't go to uni purely

because of the fee rises,
'cause they just thought

"What's the point of being
straddled by debt

for the rest of my life?"

It wasn't us,
it wasn't students

who created the financial
crash, it was the people

in the city
that created that crash.

Now, listen here, Jake,
I need to talk to you about, uh

why you've come to this meeting
in murderous gloves?

[all laughing]

It's a bit cold.

[all laughing]

Now, 6 years on, we know

that the solution to the crisis
of banking

was to smash
the welfare state.

That's what, that's what
neoliberalism achieved.

It took the crisis

and it imposed
a neoliberal solution.

The only problem
is it doesn't work.

Prices and bills
keep going up.

Petrol, electricity,
the weekly shop.

On the news, it's job losses

cutbacks, closures.

You think about tuition fees

house prices,
the cost of a deposit.

You wonder how our children
are gonna manage.

Uh, how old,
how old are you?

7. Well, I'm 8 in January.

What about you,
how old are you, darling?

Do you know how old you are?
Are you 4?

- No.
- Right, some confusion.

- So like, are you...
- I'm 6.

- What are you, darling?
- No, I'm 4.

- Good girl.
- No, I'm 5.

I'm 5, I'm 5.

Let's not get bogged
down in details.

They're getting on alright?

You're getting on very well
at school, aren't you?

Yeah.

- You're quite clever, are ya?
- Yeah.

She's quite bright, yeah.

- What are you saying?
- I'm not bright.

I'm not bright.

You're... you're
not bright, no.

Oh, darling.

"I'm not bright. I'm not.
No. I'm not."

[indistinct shouting]

Yeah and you're 4,
don't put yourself under

enormous pressure
to be bright at 4, Ebony.

I'm a legal secretary.

I used to work full-time
in the day

getting the train
to and from work

you know, city life and stuff.

And then when I had
my first one, Ella

uh, they let me go onto
the evening shift.

So I got the best
of both worlds.

Am I allowed to ask how much
you earn or is that, uh, bad?

- Yeah, I think you can.
- How much do you earn a year?

Um, 24,000.

That doesn't
seem like enough.

No, there's never
enough money.

It's a lot of work looking
after these kids, innit?

Yeah.

So you've got to do that,
you've got to do the job.

The girls finish
at quarter past 3

I pick them up from school,
so..

[indistinct chattering]

Good work, good work.

And then straight away
I'm on the A13 towards Leyton.

I finish at midnight
and if I'm sleeping

at my mother-in-law's that night

I'm home by, um, 12:30.

Um, sort of straight in bed..

Obviously,
other times you sleep

at your mother-in-law's
where you've dropped them?

Yeah. Yeah.

Ebony, never do that again
until you're 25.

And, um, sometimes
she stays here.

So it's easier for me
if she stays here

'cause obviously the school's
around the corner.

But if I stay at hers,
we have to be on the road

before 8 o'clock.

Whose fault is it that
your life's this hard?

I don't know.

It's Danny.

- Who's Danny?
- Danny.

- Who's Danny?
- That's their dad.

[laughter]

Danny, you've a lot
to answer for.

It sounds like a really...

I got it for my birthday.

That's a bloody
good present that.

I like it a lot. I like it.

That's g... grueling schedule

you must be living
under total pressure.

What do you do
to unwind and relax?

Not a lot.

Ain't got any love in your
life, any relaxation, any peace?

Um... not at the moment, no.

When do you ever meet people

who are happy,
genuinely happy?

Only children,
mentally ill people

and daytime television
presenters and I've been all 3.

[audience cheering]

"What gravity is this
that holds us down?

"Who installed
this low suffocating sky?

"There is a crack
in everything

that's how the light
gets in," sang Leonard Cohen.

He knew the answer was there,
that's why he became

a Buddhist and fucked off
to live in them mountains.

Either that
or it's because his management

nicked all his money,
we can't be sure.

We live in a atomized
and fragmented world.

Margret Thatcher said

"There's no such thing

as society."

She wanted us all to see
ourselves as individuals.

But one individual against
a powerful corporation

is always gonna lose.

Where is the fairness we ask?

For the shift worker
leaving home

in the dark hours
of the early morning.

Guillermo
is one of these workers.

He gets up at 5:45
every morning.

His flat in Seven Sisters
costs him

the best part
of 200 pounds a week.

His travel
into the center of town

costs him 25 quid a week.

He works as a cleaner.

He starts at 6:30
every morning

and finishes at 8 o'clock
every night.

This is Oxford Circus.

Change here for Bakerloo
and Central line.

He is paid 6.87 pounds
an hour.

The aspiration to work
the extra hour.

He gets 3 breaks,
but 2 of those are unpaid.

He doesn't work
for some dodgy employer.

He works for John Lewis.

John Lewis is supposed
to be a decent company.

But they outsource
their cleaning

so they don't have to worry
about paying a decent wage

or pensions or sick pay.

That's what outsourcing does.

It allows companies to employ
people for far less

than they would do normally.

Like the outsourcing
from councils

or the outsourcing
from the NHS.

We're all in this together.

Both myself and Tom work
for the same company.

It used to be a local authority.

I'm a support worker
in a day center.

I work with people with profound
multiple learning disabilities.

I do absolutely everything
from personal care

to feeding, to medication.

How has it changed since
it's been privatized?

T... they do nasty things
to us

like give us nine and a half
percent pay cuts.

You got a nine and a half
percent pay cut?

I was TUPEd over to a company
called "Look Ahead"

about 4 years ago
and, uh, straight away

we had to accept a 17% pay cut.

That's out of order, innit?

'Cause "Look Ahead" sounds
so optimistic.

Look ahead. You're fucked, look.

[all laughing]

Um, about a year ago,
they wanted us to accept

another 17% pay cut,
but this time we got

a 100% union membership
and we were able to stop it

from happening by balloting
to go on a strike action.

When you hear on the telly,
or whatever

oh, these privatization firms
are coming in

the way you always hear it
on the news is

they're gonna make things more
efficient and you always think

"Oh, that's good,
everyone likes efficient."

But what that means
is they're gonna stop paying

people that work
their reasonable wages.

We are all in this together.

[whistle blowing]

Go to the Warburton factory
near Birmingham.

Meet the people
who work all hours.

I work for Warburtons,
my wages covers..

...my rent, my food, petrol.

I can't save,
I can't go on holidays.

Well, I tell you
what Warburtons owners

paid themselves last year,
5.4 million.

We had a great success
last year at, uh, Hovis in Wigan

uh, where we took on,
uh, an employer

over the issue
of zero hour contracts

and their use
of zero-hour contracts.

There was 204 people
that went out on strike.

That's 180 full-time employees

and 24 zero-hour people
actually went out on strike.

And those 24 hour-zero
contract people

became full-time employees, uh,
during that dispute.

Oh, what a brilliant success.

Meanwhile, Gavin Darby
at Premier Foods

he earned, in, uh, 2013,
1.6 million.

I bet old, uh, Gavin Darby
with his 1.6 million

I bet deep down he don't
feel good about it.

[drumbeats]

We are still
all in this together.

Tesco is Britain's
biggest retailer.

It makes profits of more
than 2 billion a year.

It employs 300,000 people
in the UK

but it doesn't pay them
a living wage.

How much do you get, Tracey,
if you don't mind me asking?

Um, I get 7.27 pounds
an hour.

Are you working full-time?

Um, virtually
full-time, yeah.

I have, uh, another job
in the evening

so obviously, well, I'm not
getting paid enough.

Where I work
we're paid 7.79 an hour.

Which apparently is the best.

It is, actually.

Well, I haven't had
a pay rise in 7 years.

My husband hasn't had one
for 9 years.

We know how much a... a can
of baked beans..

...costs a year ago and we know
how much it costs now.

But we haven't seen
that reflected in our wages.

It says Philip Clark of Tesco
was being paid

6.9 million pound a year,
so he needs that.

To live on?

Sainsbury's have made
4 billion since that crash.

They've paid 20 million..

...to their, uh, CEO
since that crash.

Tesco's, uh, are selling

a private jet
for 35 million quid.

It's got 5 private jets,
uh, that's Tesco's.

Who here works for Tesco?

Do you think that they could
afford to pay you some more?

Definitely.

Why are we subsidizing

massive corporations
like Tesco

by paying benefits to people
who work for them

so they can pay them less?

We spend
about 28 billion pounds a year

on benefits for people in work.

If we want to cut the welfare
bill, a good start

would be to make sure everyone
is paid a living wage.

Here, the minimum wage

was only
introduced in 1999.

If it had increased at
the same rate as bosses' pay

it would now be nearly
20 quid an hour.

Instead it is 6.70 pounds.

In the last 5 years,
has, uh, your wages gone up?

Very slowly

but the cost of living
has gone up as well.

The wages go up a little bit,
cost of living

goes up a bit more, doesn't it?

Most low-paid jobs
are in retail

cleaning, hotels, cafes,
hospitals and nursing homes.

All the jobs that have
to be done here

that can't be outsourced
to India or China.

So, don't believe anybody who
tells you that unemployment

would rise if care home
workers got paid a decent wage.

They wouldn't,
unless you wandered

into a care home yourself
and started working for free.

In the 35 years since
Thatcher came to power

growth has been less than
in the 35 years before.

And twice as many people have
been out of work.

No wonder Grays is looking
a bit rough around the edges.

It's changed though,
innit, Grays?

- Has it got better or worse?
- Worse.

Yeah, I thought it had.

A while ago, I wrote
an excellent book

called "My Booky Wook."

It was about growin' up
in Grays in the '80s.

In those days, if someone
in Grays had gone into

a locally-owned bookshop
and bought the book

half the money would
have gone to the shop

and stayed in Grays.

Another part would have gone
to the publishers in London.

The bookshop would
have paid its rates

which the local council would
spend on local services.

The shop would have employed
people here in Grays.

Those people would
pay their income tax

and their council tax.

All that money
would have stayed here.

Those employees would have
used other local businesses

like the barbers
or the grocers.

They would also employ
local people

who'd pay their income tax
and their council tax.

A barber would go and spend
his money in the grocers.

All that money and work would
have been here in Grays.

When I was a teenager

there was a shopping mall
built nearby called Lakeside.

Not that there was a lake,
they had to build one

to justify the name.

All the national chains
were in the mall.

So their profits
went to London.

Local shops disappeared.

The shopping center was owned
by an international company.

So the rent went to them.

But the shops still pay tax

they still pay the workers
here in Grays

who lived locally
and shopped locally

and paid their
council tax locally.

If the book is bought
online, say on Amazon

then that money
would never make it

into the local community.

It would all disappear to some
offshore tax haven

and very few people would
benefit from the profits.

Taxes in some respects
are an extraordinary idea.

It's... it's the way in which

complete strangers
can actually cooperate

to provide the infrastructure
that we need

to run a modern society.

I am in favor of cutting
taxes at any time,

under any circumstances,
for any excuse.

When the free market
fundamentalists talk

about cutting taxes,
what they mean is

cutting taxes for the rich.

On the 4th of January
next year

the main rate of V-A-T will rise

from seventeen and a half
percent to twenty percent.

V-A-T is a tax that costs

the ordinary worker twice
as much as the rich.

That's why it's gone up
from 8%

in 1979 to 20% now.

But the taxes paid by the rich
have been cut.

Thatcher and Reagan
slashed inheritance tax

capital gains tax and the
top rate of income tax.

What this meant was
the rich 1%

were taking home twice as much
as they had been.

Now, you think
they'd be happy, but

paradoxically cutting
taxes made them want to have

higher and higher salaries.

When Thatcher came to power,
bosses of big companies

in Britain used
to earn 10 times

the salary of the average
worker.

Certainly, I've never felt
underpaid or undervalued.

Uh, one earned what one earned

and it seemed perfectly
reasonable at the time.

But now they earn about a 150
times as much as everyone else.

We're told that
the market decides

that the bosses
are paid by results.

This isn't true.

There's no real connection

between the rise
of bosses' pay

and the success of a business.

At Barclays, in 1979

the boss got 87 grand a year.

In 2011, Bob Diamond

paid himself 6.3 million quid.

Even though company's share
price had dropped

by 30% in the 10 preceding
years.

We are looking for Bob Diamond.

Hello, mate, have you
seen Bob Diamond?

Even his name sounds slippery.

Will some bankers, please

very gently go to prison?

I love you, you're... you're
absolutely gorgeous.

I mean, I can't argue.
You're beautiful.

If I wasn't busy trying
to create financial justice

I'd be right out this van
and I'd snog you so hard, mate.

I'm hoping to meet,
I've written his name down

"Antonio Horta Osorio."

Is that the right name?
Did I say it right?

Or someone that can talk
on his behalf.

I get scared in here.

- Why? Are we intimidating?
- Yeah.

I feel a bit nervous.

There's something sexy
about the whole

financial world as well, huh?

Is there?
I'll tell you what.

They nearly kicked me head
in at Royal Bank of Scotland

so you're a treat, you are.

Alright.

Can I practice what I'm going
to say if a person comes down?

What's that?

I've got to talk
to Antonio Horta Osorio

that's the boss of Lloyds,
about whether or not

anyone from Lloyds
should get a stretch

as a result of the Libor
irregularities.

Libor, I don't know
what that even means.

It's to do with
the financial world.

Uh, in 1980, the Lloyds boss

got 80 grand a year.

If the average wage has gone up
by the same proportion

as the Lloyds bosses' wage
has gone up

the average wage would now be

450 grand a year.

That's the average.

So these are the questions.

A correction is required.

Since I said that,
a couple of weeks ago

Lloyds have announced another
pay package for their boss.

This time,
it's 11.5 million quid a year

so if the ordinary wage
had gone up at that rate

over the last 35 years,
the average worker would

now be earning 900,000
pounds a year.

Which is reasonable
for an average worker.

Hello, I'm from
the media agency.

- I'm Russell.
- My name is Laura Brookin.

- Hello, Laura Brookin.
- Adam Pledger.

Hello, Adam.

There's a few questions.

Can I run 'em through
'em with you now?

Okay, we'll need to,
we need to get..

- You got lots of questions.
- That was, that's RBS' one.

- I've already done them.
- Right, okay.

That was hard work that one,
I tell you.

- Are you short-sighted?
- No, I'm just blind.

- Actually blind?
- Yes.

Because I wondered when
your hand came out.

I can't see your face.
I remember what you look like.

Do you still look like Jesus?

Do you wanna touch
my face or whatever you do?

Yeah, that's a good idea.

Ah, you've got
that horrible beard.

Oye!

See if you can tell
if I'm handsome.

I know you're
a pretty good-looking fella

'cause you're a bit
of a hit with the ladies.

[laughs]
I do alright.

Thank you very much.
Very kind.

Anyway I mispronounced it.

It was, did, should anyone..

from Lloyds have gone to prison

for their involvement in Libor?

And then... in 1980

when I was 5,
the fella that ran Lloyds

earned 80 grand a year.

Now the fella that runs Lloyds
earns 5 million a year.

If the average workers money had
gone up by the same amount

that means the average worker

would earn 450 grand a year.

So that's much more.

[instrumental music]

Kwasi works as a cleaner
at Goldman Sachs.

His shift starts
at 10:00 PM at night

and finishes at 6:30
in the morning.

He then works a second job,
cleaning a pub.

[indistinct chatter]

Last year, Goldman Sachs'
bankers earned

an average
of 3 million pound each.

If the bankers gave up one day
of their pay, they could

practically double the wages
of all their cleaners.

[music continues]

[indistinct chattering]

But despite the massive
inequality of incomes

wealth is even more
unfairly divided.

Now before, if you remember

we were talking about
income, weren't we?

(all)
Yes.

We were.

Now we are talking
about wealth.

Now, imagine this.

If you took all of the money
in our country

what is called Great Britain

was divided up fairly

so each person had
the same amount

how much money would
each person have?

(all)
200,000!

200,000 pounds.

Can I just ask, is that fair?

(all)
Yes.

But that isn't
what's happening, is it?

- No.
- No.

No, it's not actually. That was...
that was a rhetorical question

I just asked you.

So let's have a look

at what the economic
situation actually is.

Hold your numbers in the air.

[indistinct chatter]

Those aren't your real name.

Okay, well, uh,
after that very brief

succinct and effortless
piece of organization

and I'd like to thank
all of you children

for being so very focused
and helpful.

What we now have

is a more accurate portrayal

of how money is divided
up in our country.

The 50 poorest
percent at the back

how much have you got?

20,000 pounds!

Excellent.

Now the middle 40,
how much have you got?

A 125,000 pounds.

A 125,000 pounds,
the middle 40.

And the 9 of you over here

I'm going to call you
the moderately elite 9

how much have you got?

900,000 pounds.

900,000 pounds?

Yes!

You're so sweet for tyrants.

Okay, Roxy, once again

the 1%, how much have
you got, darling?

More than 5 million pounds.

5,800,000 pounds.

Is that fair?

No!

It doesn't seem fair.
No, it must be fair

because if it's actually
happening, it must be fair!

Is it fair?

No.

What should we do
to make it more fair?

[clamoring]

[chanting]
Share it! Share it!

Share it! Share it!

If you were
in a school playground

with 20 kids in it and a couple
of them took all the toys

you wouldn't just say,
"Oh, well, that's life."

You'd explain to them that
sharing is a basic human value

and then you'd
redistribute the toys.

Let's overlook the fact
that in this allegory

you're hanging around
a playground

with unsupervised children.

We might be teachers
or lollipop men or something.

It's one of the triumphs of
the free market fundamentalists

that we equate their ideology
with modernity.

We've been persuaded that that
the free market is the future

when, in fact, actually,
we're going back to the past

where you were born rich
or born poor

and that's the end
of the story.

In the old days, there
was a lot of wealth

and it was concentrated
in the richest 1%.

Then things got fairer.

The effects of the war
and taxation meant

that the value of capital was
halved in relation to income.

So what mattered was what you
earned through your work.

But since the free market
fundamentalists took over

capital is more
and more important

and as capital grows

inheritance is becoming
more and more important.

In Haringey, one of
the poorest boroughs in London

these terraced houses now cost
more than a million pounds.

That's 40 years
of the average wage.

30 years ago, they would have
cost 6 or 7 years

of the average salary.

So if you want to be
able to buy a house

you better hope
you've got rich parents.

[indistinct chatter]

The top 1% of people
in Britain

own a quarter of the wealth.

That's bad.
But globally it's worse.

Oxfam say a bus with the 80
richest people

in the world on it
would contain

more wealth
than the collective assets

of half the Earth's
population.

We couldn't fit 80
people in 1 bus.

So we put them on 2 buses,
a mini convoy of capital.

Who are these 80 people?

How did they make their money?

Well, 4 of them are heirs
to the Walmart fortune.

[indistinct chatter]

They pay their
workers so little

that the American taxpayers
have to give them

$6 billion a year in welfare.

We're trying desperately
to fight against the..

The media likes to celebrate
self-made billionaires

but more than half the wealth
on this bus has been inherited.

[instrumental music]

[horn honking]

Between 1990 and 2010

Bill Gates'
fortune grew from

$4 billion to $50 billion.

Maybe he deserves it,
maybe he don't.

But Lilianne Bettencourt,
heir to the L'Oreal fortune

also so her money grow
by the same amount

even though she's never
worked a day in her life.

Why? Because she's worth it.

If you own the world,
if you own all assets

I think you can seriously
achieve about 10%.

When you can get returns
on capital of up to 10%

then the rich get richer and
richer without doing anything.

And even self-made fortunes

quickly change to inheritance.

Steve Jobs' widow is worth
more than $10 billion

just for having been married
to Steve Jobs.

I mean, I know he's difficult
but $10 billion difficult?

I'd have a go at him for that!

In fact, everyone on this bus
has more than $10 billion.

There's people who made
fortunes from the privatization

of state industries,
look at them.

There's some people
who made fortunes

from speculation
in the financial market.

[spits]

Oh. And there's
Rupert Murdoch.

He turns up everywhere,
doesn't he?

If Rupert Murdoch
makes 10% a year

that means he's earning
a billion dollars a year

without doing anything.

Before the free market
revolution

that sort of income
was taxed at 98%

so people couldn't get rich by
sitting around doing nothing.

Now, Rupert Murdoch
has companies

registered in tax havens
all around the world

and it's estimated
that he pays 6% in tax.

That's wrong.
That's grotesque.

If we have a tax that
took 90% of their wealth

the poorest person
on the bus

would still
have a billion left.

But we could double
the wealth of people

like those who live in Makuru.

Would Rupert really
be unhappy

if there was a wealth tax
of 90%?

No! He'd be fine.

And so would George Soros

and Liliane Bettencourt

and Mrs. Jobs
and Warren Buffet

and everyone else
on the billionaire fun bus.

So don't be downhearted, fellas,
we're coming for your money.

We inherited a tax system

where some in the city

were paying lower rates
than their cleaners.

The IRS publishes
the 400 largest incomes.

The most recent data
showed that the average income

of those people
was $200 million.

A number of them were paying
at a rate below 10%

including payroll taxes.

Now that's still a lot less
than my cleaning lady.

The tax charge has
increasingly shifted

from those who
can afford to pay

on to those who
can't afford to pay.

A quick way of making things
fairer is to tax the rich.

The rich would like us to think
that it is impossible to tax them.

As though by taxing them

would be creating
some gray, socialist

depressing East Germany place
where it rains all the time.

But when Brigitte Bardot
and Jean-Paul Belmondo

were making France look like
the coolest place on Earth

the rich were being taxed
up to 90% of their income.

The French look back
on those years

as Les Trente Glorieuses

The Glorious Thirty
that means.

In America, the same thing

from the end
of the Second World War

to the end of the 70s

taxes on rich individuals

were as high as 95%.

That was when America
was at its most powerful

its heyday,
from Steve McQueen to JFK

Marilyn Monroe to Bob Dylan.

The 50s and 60s
looked pretty good from here.

In Britain, the same thing.

Taxes as high as 95%
for the rich

with a Tory Prime Minister
saying

"You've never
had it so good."

Followed by
the swinging 60s

when everyone wanted
to be in London.

You can have mini-skirts
and high taxes.

You can have fun and color
and sunshine and sex

and comedy and still
have a fairer society.

You can even win
the World Cup.

[cheering]

I'm a low tax,
small government Conservative.

We're often told that if we
increase taxes on the rich

they'll just try and avoid them

but in fact,
when taxes were cut

there was a massive increase
in tax avoidance.

Morning, Bernie.

It is hard to know how
much tax people are dodging

because they like
to be really secret about it.

But when the head
of Formula One

Bernie Ecclestone was taken
to court in Germany

they found that he had
an unpaid UK tax liability

of 1.2 billion pounds.

In 2008, the tax collectors
agreed to let him off

1190 million of it.

He just gave them
10 million quid.

The best estimate I've seen

of how much personal wealth
is held offshore

evading tax onshore

is an estimate that came
out of a research team

in New York in 2012

and that ranged between 21 to 32
trillion US dollars.

For every billion
of benefit fraud

there are 9000 prosecutions.

For every billion
of income tax fraud

there are 5 prosecutions.

In other words, if you are poor,
you get prosecuted.

If you are rich,
you get let off.

In 2005, Sir Philip Green
was paid 1.2 billion pounds.

He said that Topshop and all
the other companies he owns

were really owned
by his wife, Tina.

And she lives in Monaco

which happens to be
a tax haven.

- That's not Monaco!
- That's not Monaco!

This is London, I thought.

There you go, mate.

Here you go, mate. It's about
Topshop tax avoidance.

Uh, in Topshop,
they don't pay their tax.

Take it easy.

One of the tax haven devices
is this whole idea

of being non-domicile for tax
purposes in... in Britain.

Um, and this one is just so
bizarre you couldn't make it up.

Good morning.

Lord Rothermere is the owner
of the "Daily Mail."

A paper that is very proud
to be British.

Rothermere owns his shares in the
"Daily Mail and General Trust"

uh, through a Bermudan company

called Rothermere
Continuation Limited.

Trusts are one of
the basic building blocks

of... of any offshore structure.

Even the less
sophisticated ones

would typically start
with a trust.

- Hello.
- We heard about you in politics.

Good! Good girl!

And what these
structures allow

someone like Rothermere to do

is to turn

what is really UK income
into overseas income.

Okay.

These so-called non-doms
like Lord Rothermere

avoid more than four billion
pounds tax per year.

- Hello?
- Hello, mate.

I just wondered does Lord
Rothermere live here, please?

Do you want to speak to him?

I'd love to speak
to Lord Rothermere, yeah.

What's your name again?

Say it's Russell Brand
to speak to Lord Rothermere.

Say it's about living here
and taxes.

You can acquire a domicile,
you can also lose it.

- Hello, I just...
- One moment please.

He is just getting off
the telephone.

Okay. I just wanted to ask
if Lord Rothermere lives here?

Yes, he lives in here.

Does he pay his taxes
in England, do you know?

I don't know.

Ah, yeah,
I don't know either.

Like, 'cause if he's domiciled
here, he should pay taxes here.

I just wondered, one,
did he pay inheritance tax

on the 1.5 billion, uh,
when he inherited the "Daily Mail"

off his dad whose name was also
Lord Rothermere by coincidence.

And also if it's true

that he runs the "Daily Mail"
out of Bermuda

which is a tax haven
and controls it from Jersey

which is also a tax haven?

Hello? Lord Rothermere!

Lord Rothermere!

Jersey, where Rothermere
hides his cash

has 400 billion dollars
of assets in trusts.

We know, for example that..

...the Prime Minister
David Cameron's

family trust is offshore.

His chancellor, George Osborne,
his family trust is offshore.

Uh, many other cabinet members
have offshore trusts.

It's become the norm.

As part of
the austerity cuts

this government introduced
a so-called "Bedroom tax."

It affects
half a million people.

They hope that it will save
500 million pounds a year.

Bedroom tax is for people

who, my age or just younger,
living on their own

and they want us to get out to go to a...
a smaller accommodation.

But I've got a lot
of health issues

you know, which I've got.

I'm due to have
two, um, hip replacements.

They've said I've got bones
of a 90-year-old woman!

Oh, bloody hell!
She'll want 'em back.

I want both back.

Done a joke, why not?
Stuck it in.

- You've gotta have a laugh, ain't ya?
- Gotta have a laugh.

Yeah, gotta have a laugh.
Life's too short, innit?

Here today, gone today.
Back tomorrow, gone tomorrow, innit?

You can't come back..
Hold on a minute.

You said here today,
gone today. Back tomorrow..

You can't get reincarnated..

Once you're gone, unless we're
Hindus. In which case..

If non-doms like Rothermere
paid their tax

then we wouldn't need
a bedroom tax at all.

When you start talking about
tax, you're talking about power.

But I say, it's time to close
corporate loopholes

shut offshore tax havens

and restore balance
and fairness to our tax co.

More than half
of world trade passes on paper

through tax havens.

Half of all banking assets
are off shore.

There are whole industries
set up to avoid paying tax.

Private Equity is really
built on tax avoidance.

Boots, for example

was paying about 140 million
pounds a year in tax in the UK

before it was taken over
by Private Equity.

After that, its tax bill fell to
around 50 million pounds a year.

Britain was very early
in the tax haven market.

It was a deliberate policy
to set up places

like the Cayman Islands
as a tax haven.

How daft were we?

And yet we did it, we created
the offshore world

and it's been a disaster
for us and everybody else.

80% of the hedge fund
industry

is based in
the Cayman Islands.

The reason Cayman has 80%
of the world's hedge funds

has to do
with regulatory efficiency.

No, it isn't.

Hedge funds are in the Cayman
Islands because there is no tax.

No corporation tax.
No income tax.

Corporation tax cut
next year

and the year after
and the year after that

and the year after that,
because we are all in this together.

Corporation tax
has come down

but corporation tax avoidance
has gone up.

[indistinct chatter]

Apple is the richest company
in the world.

It makes profits of more
than a billion dollars

every single week.

And yet they only
pay their workers

a couple of dollars an hour.

The Google arrangement
and the Apple arrangements

are almost identical.

They both basically use
a double Irish scheme.

They both end up with enormous
piles of cash sitting in Bermuda.

One part of the company,
Apple Operations International

reported net income of
30 billion dollars

but claimed to have
no tax residence.

Like they're just a drifting
band of techno gypsy people.

I mean, it's difficult because
I've got one as well.

Apple in the USA
has so little money

in its parent location

that it actually has to borrow

to be able to pay dividends
to its shareholders.

Because it can't bring in
all the cash it's got in Bermuda

because it would be taxed
if it did.

Hello. Want one?
Apple avoid their taxes.

You won't be able to distribute
the leaflets in store because...

Not in the store?

This is distorting
corporate behavior.

This is tax avoidance gone mad.

This is where the tax tail
is wagging the dog.

Want one?
Apple avoid their taxes.

Hello, officer!

This is about Apple avoiding
paying their taxes

which obviously we need
to pay for public facilities

like the police force.

Also, I like the police.

Good, we like you, Mr. Brand.

Thanks a lot. Even though I used
to get in trouble with the police.

We're on the same team.

We talk the language
of tax competition.

Now, this language is illiterate

from an economic point of view.

It would be far more accurate
to talk about tax wars.

We will always have the most

competitive corporate taxes
in the G20.

Lower than Germany,
lower than Japan

lower than The United States.

That is our commitment.

If you have a common market,
you have at the very least

got to have some degree
of common tax policy.

I'm doing this because
Vodafone don't pay their taxes.

Innit?

That's an overreaction,
if anything!

Vodafone ain't paying
their taxes.

14 billion of corporate tax loss

means 6 billion benefit cuts
for disabled people.

Do... do you mind
taking a leaflet?

- Yeah.
- Thank you.

We're campaigning for the big
companies to pay their taxes.

- Well done, mate.
- They should be paying their taxes.

They should.
We know, we know.

[on TV]
Danny Alexander wrote in

to the "Daily Telegraph" today

the Chief Secretary
to the Treasuries

accusing the Conservatives
of pandering to UK.

You can see that, I suppose,
what was inevitably going to happen

that parties want to emphasize their own
distinctiveness before the election..

Nice?

Angela, have a good day.

- Bye.
- Bye.

[instrumental music]

Angela has cerebral palsy.

To live independently,
she relies

on a care worker
paid for by her council.

Since 2010, council budgets

have been slashed by 30%.

This means fewer hours for care
workers and often lower wages.

[indistinct chatter]

Angela is also a campaigner
against government plans

to cut
the Independent Living Fund

for disabled people in 2015.

[indistinct announcement on PA]

The fund provides
330 million pounds

for 20,000 disabled people.

Less than the bonuses paid
to RBS bankers this year.

A bank we own.

[indistinct chatter]

Why don't we just have
a tax on bankers' pay

instead of cutting
disability benefits?

Starbucks sold
400 million pounds

of hot milky
drink things last year.

Yet, for 14 out of 15 years

they were here,
they've paid no tax at all

claiming they had made
no money.

I assure you,
we're not making money.

What a liar.

People say it's hard

to tax corporations

because they'll move
somewhere else.

How's Starbucks gonna move
somewhere else?

People in Oxford Street
aren't gonna just

drift off to Holland
every time

they fancy a skinny
frapo-coconut-puccini

are they?

Corporations, especially
in Britain and America

think that their only
responsibility

is to their shareholders.

To maximize profits.

That's why Cadburys
was sold off to Kraft.

Cadburys. Their creme eggs
are shit now.

The battle for ownership
of the British chocolate maker

Cadbury could be over.

A British name
for almost 200 years

the firm looks set
to be taken over

by the American
food giant, Kraft.

Cadbury was founded
by Quakers

and built a community
as well as a factory.

It was an idea
about people and places

meadows and machinery.

All paradox, it seemed
at the time.

The business grew and now
the factory and a garden

is the biggest cocoa and
chocolate factory in the world.

[uplifting classic music]

[chuckling]

The atmosphere
then was brilliant.

20,000 trying
to get into so many canteens.

Canteens, yeah.

Midday break. The big
punctuation mark in the day.

We used to sit
on long benches

that we'd have to climb over.

- The food was lovely.
- Yeah.

And if you started
at 6 o'clock in the morning

you'd have a free breakfast,
have what you like.

Pat and meself, we've been in
a, what we call a Cadbury house.

It's a Bournville Trust house.

We've been here
40 odd years now.

Although I retired,
like, 20 years ago

I'm still in a Cadbury house.

We've all got a company pension,
and we're all smiling.

So you surround
the 80 acres of factory

with 120 acres of gardens
and playing fields.

Swimming pools,
cricket, tennis..

Darts, bowls, everything.
It was great!

They were sending us
off to university.

Some of them went
to Manchester University

- I went to Cambridge.
- You went to Cambridge, yeah.

You were the brainy one
amongst us.

I didn't know that.

As a company to work for

it would have been
difficult to fault them.

We was looked after.

- We had the best times.
- Best years of our lives.

By far.

During the takeover

Kraft promised no one
would lose their jobs.

As soon as they owned it,
they broke their promise.

The food giant Kraft
has confirmed

it will close a Cadbury plant
in Bristol.

Kraft said it was unrealistic
to save the factory

and it will shut by 2011
with the loss of 400 jobs.

We have a choice. We can have
corporations like Cadbury.

Or we can have
corporations like Apple.

Look at their factory
in China.

People killing themselves,
people working 70 hours a week

people sleeping
on the production line.

It doesn't have
to be like this.

We have to punish
corporations that do this.

The interest of the workers
and the community

needs to be as important
as the shareholders.

Growing up in Grays,
I inevitably supported West Ham United.

[shouting]

It was my inheritance, like my

eyebrows or drug addiction.

But football
is being commodified

like everything else.

It's being sold off
like everything else.

Teams in the Premier League
are being bought up

by billionaires.

Look, if you can bear it,
at Manchester United.

It was bought by the Glazers
in 2005

but they bought it
with borrowed money

and then they loaded
that debt onto the club.

So all the money the fans
pay for tickets

goes to pay off the
60 million pound a year

interest on the debt.

The Glazers have made a
billion quid out of those fans.

And the holding company

that owns United is based
in the Cayman Islands.

So Britain's biggest club
became a tax exile

with 100 of millions
of pounds of debt

based in the Cayman Islands

and owned by Americans

and they don't even pay
the living wage

as if we didn't have enough
reasons to hate them.

It doesn't have to be
like this!

Football doesn't need to be
sold off to billionaires.

Look at Germany,
there the fans own the clubs.

Like at Bayern Munich, where
the fans own 75% of the shares

in a non-profit making trust.

They're just as successful.

I would like..

The rules need
to be changed

for football clubs
and businesses.

...employee and consumer
representatives.

[crowd clapping]

Here in Britain, we like
to think of parliament

as the home of democracy

stretching back
into the mists of time

immemorial, but it
simply isn't true.

This building was
only knocked up in 1840.

It's a Victorian replica
of what they thought

a parliament should look like.

It's fake.

When parliament started,
it was just a bunch of aristocrats

squabbling amongst themselves.

- Order! Order!
- I haven't finished!

Order!

When this place
was built the vast majority

of people were excluded
from voting.

It wasn't until 1918,
that all men over 21

and women over 30
had the right to vote.

And people weren't
given the vote.

It took direct action
to win votes.

People were massacred
at Peterloo.

Emily Davison died
when she threw herself

under the king's horse
at the Derby.

Just sitting at home,
voting once every 5 years

ain't gonna change nothing!

You have to organize.
You have to protest.

Like these people, protesting
against something called TTIP.

TTIP is the Transatlantic
Trade and Investment Partnership

and it's basically
a big, secret deal

being cooked up
behind closed doors

between, on the one hand
the European Commission

and on the other hand
the US government.

They want to get rid of all
of the rules, the standards

the regulations
that... that control

things like environmental goods

food safety rules, labor
standards, worker's rights.

I've got an ideological plan.

One of the things you'd see
is, you're already seeing

is that the NHS has been opened
up to private providers.

So people like Virgin
are now operating

frontline NHS services.

Virgin? They can't
even do their trains.

- For example ...
- They crashed their spaceship.

So what TTIP would mean

is that you wouldn't be able
to get it back into public hands

when you've seen
that Virgin can't do it.

You won't be able to bring it back
into public hands in the future

because it's tied up
within a trade deal.

A silent revolution
is taking place.

Big transnational
corporations

get to sue our governments

for loss of profits.

Not in our courts,
but in secret courts

which they have set up
for that purpose.

And that's the biggest threat

that sense of a direct
challenge to democracy.

It is a revolution.

To change forever
the way our country is run.

So, like, for example, Philip
Morris, the big tobacco company

is suing
the Australian government

for requiring it to... to
market all of its tobacco

all of its cigarettes
in plain packaging

because it is saying, you
are gonna infringe our right

to maximize profits
in the future.

So they're suing them
for billions of dollars

and that is exactly
what we will face

under TTIP if it goes through.

It sounds literally evil.

- It is evil.
- Why is this happening?

Well.. we are
letting it happen.

Protest works.

When they tried to bring
in these same powers before

we fought back
and we defeated them.

[explosion]

[people screaming]

One last bank scandal.

HSBC is one of the biggest
banks in the world.

In 2010, the British
tax collector HMRC

was given information leaks
from HSBC in Switzerland.

It gave the names
of thousands of people

who have been hiding money
in secret Swiss Bank accounts.

- Hello.
- Hello.

More than a thousand of them

were avoiding
paying tax in Britain.

Yeah, I've just got
to get 'round the other side.

This bit's still part
of the public thing.

The information
also showed that HSBC

had knowingly helped
people evade tax.

That's illegal.

The boss of HSBC, at the time,
was Stephen Green.

Even though HMRC knew that his
bank had been breaking the law

in 2010, he was made a Lord

and a trade minister
in the government.

"...Mighty God that I would
be faithful.."

You know when you were
in charge of HSBC?

No comment.

Your bankers were helping
people dodge tax.

Why did you let them do that?

'Cause I think I've
explained, uh, I'm not prepared

to make any comments on HSBC's
business past or present.

But you sort of have to,
because at the time

you were on millions of pounds

and yet the taxpayer
was missing out

because of things that you were
allowing to happen.

How can you defend that?

Sorry, I'm not prepared

to make any comment on HSBC.

Talk to HSBC, I'm sorry.

The current head of HSBC
is Stuart Gulliver.

I'd like to put on the record
an apology..

The leaked file show that
he was hiding 5 million pounds

in a Swiss account
and that wasn't enough for him.

He got paid through
a Panamanian company

even though he lives
in Britain

and his tax domicile
is Hong Kong.

I just need to talk
to Stuart Gulliver

about whether it's fair
that he earns 4 million a year

when hundreds of billions
of taxpayers money...

Unfortunately,
I can't answer that.

You'll have to take it outside.

- Can I go over that bit?
- No, you can't.

Unfortunately, you can't.
Sorry, mate.

Alright. That's alright. I'll
wait here, see if he's around.

- He's not around.
- He must be up there working.

Four million a year,
he's probably grafting.

We've got another update.

In there, I was asking
about Stuart Gulliver's

4 million salary,
but HSBC has just announced

that last year
he earned 7.6 million

so it's almost impossible
to keep up

with these bank bosses
and their incessant pay rises.

What I'm saying now
is probably redundant.

Just imagine
the biggest number you can

then give it to Stuart Gulliver.

Is it fair that like looters
got collectively 1800 years

but no bankers got
any custodial sentences?

That's nothing
I can answer, mate.

You'll have to come outside
with me if you want to talk.

Um, It clearly
was unacceptable.

We very much regret, um, this

and it has damaged
HSBC's reputation.

Yeah, I think it's this way.

No, you... you're not
going anywhere

Yeah, I think
it's in this way, mate.

No, you're not
going anywhere.

As dear, beautiful

morally unimpeachable
Che Guevara said

"Those who do not dream

will never see
their dreams come true."

Sadly I think it's also a lyric

of that song
"Talky Talky Happy Talk"

but I'm pretty sure
Che was first

and certain that if the creators
of the song quibbled

he would shoot them
with a Kalashnikov

without knocking
the ash off his cigar.

I think of the millions
of people going out to work

wiping the ice off
the windscreen

on a winter's morning.

Raising their children as well
as they can

working as hard as they can

doing it for a better future.

To make a good life for them
and their families.

Oh, really?

By creating a financially
complex capitalism

we create a massive
inequality of power.

Free market fundamentalism
pretends

that the market
is something universal

something natural
which works for everyone.

When in fact,
the free market is rigged

for the rich and the powerful.

They say, if the rich
get richer, we all benefit.

The wealth will trickle down.

It ain't trickling.

They say
that competition always

makes us more efficient,
it doesn't.

Cooperation is often better.

[train chugging]

Now obviously, long-term,
we want to live

in a non-hierarchal
utopian collective

where everyone's equal
and we live in a blissed out

transcendent world
of white wonder.

I don't mean the color white

I mean the transcendent light

that connects
all consciousness.

But for now, we could make
a few basic concrete changes

so next time we are out
on the street, we're not just

saying, "Oh, everything's
rubbish"

we have a clear few ideas

let's make a bit
of a start, shall we?

How about, now hold on to your
hats, we make them bankers

pay back that money we gave 'em.

How about a financial
transaction tax

to stop all them gamblers
in the city.

How about a 90% income tax
for the richest 1% of people?

What? Uh, that would include me.

Let's, we... we don't
have to rush that one through.

That's complicated.

90% inheritance tax

for anything
over one million quid.

My kids are fucked,
if they're ever born

probably be idiots anyway,
nah, they'll be plucky.

Stop tax avoidance.
Stop avoiding it!

Everybody equal under the law.

These things
aren't controversial

but they're not happening now.

How about a living wage
for everyone?

That should be about
what, 15 quid in London

for them poor sods trekking
about on night busses

mopping up pubs, 300 years

to earn a year
of their boss' money.

Could we possibly break up
billionaires' monopolies

of the press so you don't have
one liver spot covered

tarantula man
running the entire media?

No one should be able to own

more than 49%
of one newspaper.

How about we change company law
so companies like Apple

can't say, "Oh, we have
to avoid taxes

"it's the law
to not contribute to society.

"It's the law that we base
our business in a tiny island

that's got no people on it."

All companies
should have workers

consumers and members
of the community represented

on the board so they can
be part of the conversation.

All workers should have shares
in the companies they work for.

Bosses' pay and worker's pay
should be related

and decided upon

by a cross-section of workers
in the company.

We need to give people
the time and space

to come together in communities
in shared enterprises.

Change does happen,
and it can happen quickly.

35 years ago,
we had a revolution, secretly

for the richest 1%.

Now all we need is
a revolution for everyone else.

[instrumental music]

In the US, we have
94 trillion dollars of wealth.

94 trillion!

And of that,
25 trillion is unused.

Whoo! I need to talk
to Stuart Gulliver.

Please?

Please?

I got a current account.

In very simple terms,
what needs to happen

is banking needs
to go back into the past

where banking
was a boring business.

It was predictable.
It was transparent.

[knocking]

Hello.

They won't let you in
this side because..

They've shut up the
whole thing because I'm trying

to get in there to talk
to Stuart Gulliver

about his 4 million
annual salary.

Do you know what Libor is?

Yes, I know what Libor is.

What is it?

Libor? I don't have anything
to do with it.

[Russell laughing]

You'll reach our banking

that's the boring side
of the banking.

> Now you're getting shafted.

They won't let you
in the office.

Switch off the profit margin
in banking.

The bankers will walk away
and do something else.

Boring banking,
exciting businesses.

Kiss me, Brand!

Love you, darling.

- Muah.
- Muah.

[cheering]

Root vegetables.

[kids laughing]

We're taxing
too many poorer households

and too many
middle-income households

we're not taxing wealth.

Some people have so much,
some people have nothing.

Well, I feel my personal view

we should have a loving,
peaceful protest.

[indistinct chatter]

[instrumental music]

I would argue, uh, what the
situation we're seeing today

is one of those moments
in history, right for change.

[blowing whistle]

...the right
for proper overtime.

I've just popped down here
and am staying overnight.

Just some sleeping bags
and blankets and stuff.

Good afternoon.

[indistinct chatter]

Leave our homes alone!

This is about people trying
to get on

and show more compassion

if it ends in a karate kick,
it's the wrong message.

Actually, today
we have some good news.

The New Era estate campaign

against Westbrook
has been victorious.

Westbrook have decided
to sell the estate

to a housing
association facility.

This is a result, not of
anything except people power.

People coming together
to confront lazy governments.

[crowd cheering]

Feeling bloody great,
it's amazing, isn't it?

[audience applauding]

Well, thank you. Thank you.

♪ Where is the fairness ♪

♪ We couldn't care less ♪

♪ One tax law for the rich
and another for the rest ♪

♪ And we will take interest
into the very richest ♪

♪ Let us make the poor
their bitches ♪

♪ Tax evasion
is a man-made disaster ♪

♪ These are the people
I'll serve as chancellor ♪

♪ I know the answer is to fill
the wallets of the rich ♪

♪ And balance the bills
on the backs of the poor ♪

♪ The rich pay less tax ♪

♪ Let us be sure
they don't pay any more ♪

♪ And as my chums move
their money off shore ♪

♪ I am the one
holding open the door ♪

♪ Let us be the party
that makes you cry ♪

♪ But madness is voting
for the other guy ♪

Good morning, everybody.

Good morning.

♪ Employment legislation ♪

♪ Blame immigration ♪

♪ Excessive regulation ♪

♪ Blame immigration ♪

♪ Bad education ♪

♪ Blame immigration ♪

♪ No qualification ♪

♪ Blame immigration ♪

♪ Radicalization ♪

♪ Blame immigration ♪

♪ Unhappy situation ♪

♪ Blame immigration ♪

♪ The intimidation
in our nation ♪

♪ When we blame immigration ♪

♪ Is a total abomination ♪

♪ At home and abroad we can
afford to press pause ♪

♪ And put the needle
on the record ♪

♪ Make sure the tops
stay better off ♪

♪ Make sure the money
stops at the top ♪

♪ Take every penny
from the hands of the many ♪

♪ And give everything
to the few ♪

♪ We are not all
in this together ♪

♪ We want to help the rich
get richer forever ♪

♪ The poor will
get a chance never ♪

♪ We don't
give a damn about you ♪♪

Be in no doubt which side
this party is on.

Not yours.

[audience applauding]