Yves here. We missed some good Tax Justice network monthly podcasts and are remedying that oversight today. These Tax Justice talks typically combine an update on news events, which today is Brexit, and a feature discussion on elder and child care. In the UK, for instance, public funding has helped support private operators, many of whom are small and where the owners have modest financial goals. Private equity is moving in and making bids on even Mom-and-Pop-sized private nurseries and are creating corporate chains. Experts describe how these operations are not more efficient but are skilled at extraction.
From the Taxcast:
This month we ask – what’s going on with our pre-school childcare and elderly care home services? We take a long hard look at the financialisation of our services and what we can do about it.
Plus: the Conservative party in the UK has won a major victory in the general elections. With major challenges for tax justice, what are the next steps for trade deal negotiations? Will Britain now become a fully fledged Singapore-on-Thames?
It’s not good for essentially public infrastructure…to have public infrastructure at the whims of companies that we can’t even contact is extremely precarious and unsustainable… that’s why there’s a strong case to be made for politicians and people of all political persuasions to be interested in the sustainability of this industry. Because it needs to be fair and it needs to be sustainable because of the people involved, the people who will be affected.”
~ Vivek Kotecha, Centre for Health and the Public Interest, author of Plugging the leaks in the UK care home industry – Strategies for resolving the financial crisis in the residential and nursing home sector
The European Union is a colossal export for the City of London and one which the large banks and the major law firms do not want to be locked out from… all sorts of pundits have been flagging up growth opportunities in far East Asia, but with Hong Kong and Singapore already well established as offshore financial centres and the Chinese are now talking about expanding offshore financial services through Macau, the growth opportunities in Southeast Asia are unlikely to compensate in any way for the market share losses which arise from a hard Brexit from Europe.
~ John Christensen, Tax Justice Network
- Vivek Kotecha, Centre for Health and the Public Interest
- Liz Pemberton, early years consultant and nursery manager for Edgbaston Park day nursery in Birmingham, UK
- Immy Kaur, co-founder of Civic Square in Birmingham, UK, a network for innovative social initiatives including #radicalchildcare
- Elderly residents at a care home in the Midlands, UK
- John Christensen, Tax Justice Network
- Produced and presented by Naomi Fowler
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