I am very surprised by the lack of interest in the program, which aired last night on ITV
Covid Contracts
Money has been lost by the Tories on an industrial scale
Where is the outrage?
🇬🇧One of greatest scandals of post-war Britain: UK “won the oil lottery” in 1970s and unlike Norway, the winnings were spent fast and upward.
🇬🇧 Britain won the oil lottery and spent the winnings on breaking its own society. Thatcher used oil wealth to fund tax cuts for the few, bankroll mass unemployment, and underwrite the City.
🇳🇴Norway built a sovereign wealth fund for its children; Britain bought a decade of neoliberal revolution.
Today, the fund is gone, the oil is running dry, and the public is left with nothing but austerity.
But who actually benefited:
1. Thatcher Government (1979–1990s)
•North Sea oil revenues peaked in 1980s at 10% of government receipts.
•Thatcher used them to:
•Fund tax cuts (especially for wealthy).
•Finance costs of mass unemployment caused by deindustrialisation.
•Cushion impact of breaking the unions during the miners’ strike.
•Oil wealth effectively bought time for the neoliberal revolution.
2. Private Oil Companies & Investors
•BP and Shell, plus American majors, made huge profits.
•Oil fields were licensed largely on generous terms, especially compared to Norway’s Statoil model.
•Shareholders: concentrated in the City of London and abroad captured much of the surplus.
3. The City of London
•Oil wealth helped strengthen the pound, finance deficits, and feed into the financial sector.
•Rather than building a sovereign wealth fund (like Norway), Britain effectively used oil to underwrite financialisation, feeding City profits.
4. Consumers (short-term)
•Oil and gas revenues did help fund some public services and temporarily held down taxes.
•But because no fund was created, ordinary people got no lasting benefit. By the 2000s, the “lottery money” was gone.
5. Politicians & Elites
•Oil revenues reduced the need for governments (both Tory and Labour) to confront long-term industrial decline or build a coherent economic strategy.
•Political elites benefitted from having “easy money” to paper over deep social fractures.
Who Didn’t Benefit
•Future generations: no sovereign wealth fund means no oil inheritance. Norway’s Oil Fund is now worth over $1.5 trillion; the UK has nothing.
•Industrial workers: oil financed deindustrialisation rather than protecting jobs.
•Communities in Scotland 🏴 & the North East: production wealth flowed to London/City, not reinvested locally.
Man on left attended prestigious Dulwich College Private School - Fees £45k per year 💰
Man on the right attended Prestigious Eton Private School - Fees £60k per year 💰
Proving @reformparty_uk is 💯% the party of the Establishment for the Establishment
Our own govt now plotting with Thames Water against the interests of customers and bill payers. Who'd have thought it.
Brilliant scoop by @guardian
Varun Chandra the man currently tasked by No10 with finding a private sector solution for Thames Water, and preventing it from being nationalised, until recently ran and still owns millions of pounds worth of shares in a corporate intelligence company called Hakluyt who since 2023 has been working for... yep you guess it, Thames Water.
"Several politically connected Hakluyt employees have also been advising Thames, including a former speechwriter to the chancellor, Rachel Reeves, and Rishi Sunak’s former deputy chief of staff."
"It is understood that Hakluyt has been working closely with Thames’s strategy director, Cathryn Ross, a former chief executive of the water regulator Ofwat, since 2023. Sources said Hakluyt had been paid more than £1m by Thames in that time." And let me remind you that will be bill payers money."
https://t.co/oljnYkZl8i
"Five million wet wipes cleared from disgusting 'island' in Thames."
And how did those wet wipes get there? @thameswater any ideas?
https://t.co/WbWrYwuRv0
"Thousands of tonnes of toxic landfill liquid added to sewage and spread on English farms."
And all of it, all of it now entering the food chain. When does it stop? How long before we demand it stops? What next?
https://t.co/hn61kr7kMi
So the next time you hear a politician tell you that it would cost billions to deal with with Thames Water, that it would mean taking money from the NHS, schools, old age pensioners play them this.
It is of course all nonsense. 👇👇👇
EXCLUSIVE:
Paqueta has ZERO intention of leaving West Ham United this window.
His family are settled, and I’m told close family members also want him to remain at the club.
An agent close to Sullivan is the one pushing for a move, and leaking this to the press.
PROTEST V PALACE
Everyone talks the talk but will they walk the walk? We need as many of us out as possible, we need our big accounts, fan channels and old school fans to fully support this as well.
Stratford station at 12:30
Carpenters at 1:00
Main gates 1:30
Please repost⚒️
"Rachel Reeves’s new adviser has links to Thames Water lobbyists."
Yep you read that correctly, Jenny Scott, who will now work at the Treasury, will continue her role as a partner at Apella Advisors — a firm she co-founded — that lobbies on behalf of Thames Water. Yep and I did not make that up.
https://t.co/0NY44TCeMS
Not a single new reservoir built in England for 30 years. ❌
3 billion litres of water lost from leaking pipes every day. ❌
What's the private water sector's solution? Hosepipe bans and ruining rare river ecosystems. 🤯
We need public ownership now.
Feargal Sharkey: "We were promised by govt a complete proper reset root and branch review. We were promised champagne, what we've actually got is sour milk. The secretary of state needs to consider his position. I think Steve Reed should resign" #GMB