Hackney (Parliament Politics Magazine) – Protesters gathered in Hackney under the ‘We Demand Change’ banner, urging a shift in government priorities from military spending to welfare investment.
As reported by Socialist Worker, in Hackney, east London, a protest against austerity raged on Saturday. We Demand Change organized the demonstration, which united a variety of groups in calling for “welfare, not warfare.”
The Hackney Palestine Solidarity Campaign, Hackney Stop The War, Hackney Trades Council, Hackney NEU union, and Hackney Unison union supported it. Additionally, council members from Hackney Independent, Hackney Unite, and Hackney Extinction Rebellion backed it.
The results of Friday’s local election “were depressing, but we can fight it and we will,” according to Jane Bassett of Hackney Stand Up To Racism.
She argued, “We are against Nigel Farage and his party and will fight it if any candidates try to stand here.”
Don Green is from the Unison local government union branch. He told Socialist Worker he “supports the idea of campaigning on a number of issues, such as school closures, welfare not warfare and Palestine”.
And I’m here because I want to represent my trade union because Unison needs to be here.”
Jim Boyd, Unite branch secretary in Hackney, told Socialist Worker, “I’m here today with Unite about the school cuts about how the Hackney council carried them out. It was plainly about money.
And I will also want to raise the issue of the Birmingham bin strike—we have to build resistance.”
Green Party and Palestine Solidarity Campaign activists also gave speeches.
Hackney Independent Socialist councillor Claudia Turbet-Delof told Socialist Worker that she was attending the demonstration “because we need to keep up speaking up for Palestine.”
She claimed that some people are attempting to introduce divestment motions, but the council is thwarting them. She stated, “The council members themselves disagree with the way the council silences voices for Palestine.”
Many more stated that we must fight back against the attacks on members of the working class and that our political system is flawed.
How does the Hackney council’s stance on ethical divestment compare to other UK councils?
Hackney Council cites legal advise that divestment based simply on ethical concerns may violate its “fiduciary duty” to guarantee the pension fund earns enough money to continue payouts.
The council emphasizes “stewardship” and “responsible investment,” recommending interaction with businesses as opposed to complete divestment. They think that withdrawing investments won’t alter the asset’s practical effects.
According to the council, its investments in businesses engaged in contentious operations, like Elbit Systems or those in the Occupied Palestinian Territories, are frequently made indirectly through passive funds, making it challenging to exercise direct oversight over particular equities.
It would be expensive and maybe harmful to the fund to divest from some funds in order to comply with ethical standards.