In Hannah’s response she proposes that we “bring in to democratic public ownership the big companies – the banks, the big corporations – that dominate the British economy” and explains the impact this would have across society.

About Hannah Sell
Hannah Sell is Deputy General Secretary of the Socialist Party, author of Socialism in the 21st Century and has written and spoken widely on political and social issues since entering politics in the 1980s.

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  • Paul the Red 7 years ago

    Can’t really add much to what Hannah said – i think it is an excellent and very passionate contribution to an interesting question.

    In a week that saw a report stating that boardroom pay rose by on average 29% last year, that saw Vodaphone evade paying their £6billion tax bill, whilst at the same time £7billion being taken out of welfare spending, we need to take the power back because private profit for the few should be a thing of the past!

  • What an enviably calm and articulate speaking manner she has. It was a pleasure to watch and listen to her, she explained her thought process well and was persuasive. I still have doubts about how such a system could ever work in practice, and I’m afraid capitalism’s stranglehold is just too pervasive, but it was interesting and inspiring all the same. Thanks for posting.

  • Steve McAdam 7 years ago

    I love Hannah’s passion. Her genuine belief in what she says makes the idea of nationalising our big corporations, and the banks in particular, all the more compelling.
    Sadly, I don’t think it’s a fully thought through proposition.
    Most of the profits of the banks come from their trading operations, which is also where the big bonuses are paid. If we were successful in capping the bonuses of the traders, they’d disappear overnight to other trading companies here or around the world. Those banks profits would also collapse because all the good traders had gone. If we did somehow manage to cap all the obscene bonuses, we’d hit jobs in manufacturing at Range Rover & Sunseeker.
    I’d rather we worked with the trading banks to use their skills (perhaps through tax breaks) to nurture & promote green investment funds more than they currently do, or get creative about tax breaks so the individuals pay more in tax and less on accountants trying to avoid it.
    No, destroying the wealth generation capabilities of these companies & individuals in an emotional response to what has happened doesn’t do anything to fix under-funding in education & the benefits system.