New research shows Scotland’s wealth shockingly dwarfed by multinational companies
Date: 22 January 2017
In addition, research released today that focuses on Scotland shows that:
- In a list of the world’s wealthiest economic entities, Scotland comes in at number 158. But ahead of it on that list are 116 corporations, including well known names such as Walmart, Shell and Amazon;
- Scotland’s revenue in 2015 was $66.4 billion, as compared to the revenue of Walmart at $482 billion, Shell at $272 billion and Amazon at $107 billion in that same year;
- Walmart’s revenue is more than seven times that of Scotland;
- Shell’s revenue is four times that of Scotland;
- Amazon’s revenue is one and a half times that of Scotland’s, while recent reports showed that Amazon pays so badly that workers at its warehouse in Dunfermline reportedly had to camp outside during the winter to cut commuting costs.
The research has been released in the run up to a major event being organised in Glasgow on January 28 focusing on the impacts of extreme corporate power over many aspects of day-to-day life. ‘Take Back Our World’ will involve speakers from around the world, including Larry Sanders, brother of Bernie Sanders, the US senator and candidate for the Democratic presidential nomination in 2016. Sanders will be speaking about his experiences on the campaign trail with his brother and the attempts by big business to co-opt politicians.
A key aim of the event is to bring the question of corporate power to the debate on Scottish independence. While Global Justice Now doesn’t have a position on independence, the organisation believes that questions of corporate power and control should be an important part of the debate, and the event is being co-hosted with the Radical Independence Campaign.
Liz Murray, head of Scottish campaigns at Global Justice Now said:
“Our research shows that while Scotland is a relatively wealthy country, that wealth is dwarfed by the revenue of many multinational corporations. With wealth comes power, and corporations have more power over our lives than ever before. The vast wealth and political influence of corporations is at the heart of so many of the world’s problems. Time and time again we see important legislation to tackle issues like climate change and tax avoidance being watered down and undermined due to the increasingly powerful corporate lobby.
“It’s vital that this important issue is raised as part of the debate on Scottish independence and that’s what ‘Take Back Our World’ is designed to do. What would be the point of independence from Westminster if the future government of an independent Scotland just continued unthinkingly with the UK government’s work of prioritising corporate interests?”
Contact: Liz Murray on 07841 919571 / [email protected]
Notes to the editor
