Friday, June 29, 2012

More Cameron Duplicity and Hypocrisy!

Cameron and Osborne say they are cracking down on  "aggressive tax avoidance"In his March budget, George Osborne announced measures designed to claw back tax revenues leaking from Treasury coffers. 
"I regard tax evasion – and, indeed, aggressive tax avoidance – as morally repugnant," The Guardian
he declared as he outlined initiatives on stamp duty avoidance, offshore pensions and VAT-free websites." 

Last week the Prime Minister, David Cameron launched an astonishing personal tirade when he publicly attacked comedian Jimmy Carr when it became known that he was using a controversial avoidance structure involving a Jersey trust company. The prime minister said it was "morally wrong". Carr used a scheme known as K2. HM Revenue and Customs has a duty not to discuss the tax affairs of individuals in public, but apparently this doesn't extend to the Prime Minister, who showed blatant hypocrisy when criticised Carr, while ignoring much the same behaviour from his friend and Tory supporter, Gary Barlow of Take That.

In view of his strong remarks and personal attack on Jimmy Carr for using that tax avoidance scheme K2, I would be very interested to learn what Mr Cameron's thoughts are about  the scheme, known as SHIPS 2 and its association with David Royds; and Rushmore and its association with George Robinson etc?

Ships 2 is a tax avoidance scheme which involves transactions through Jersey and other tax havens, generating a tax loss that 70 wealthy UK residents were able to offset against income and capital gains tax bills.
It was marketed by the Mayfair firm Matrix Tax Solutions, a now defunct arm of the financial conglomerate Matrix Group. 
The group's co-founder and chairman, David Royds, has given £110,000 in donations to the Conservative party since 2008.

Rushmore; Records at Companies House reveal that George Robinson, in the 12 months leading up until 21 January 2010 – a director of a company called Romangate. The Times reported last week that Romangate, which had more than 500 directors, including Carr and Robinson, was part of a tax avoidance strategy called Rushmore. The scheme was closed down in 2009, before its members could claim any tax relief, following an investigation by HMRC

Rushmore is a tax avoidance strategy; George Robinson a hedge fund manager has donated more than £250,000 to the Tories.

This is what is published on the Conservative website:

"Unlike Labour, we are not funded by the Trade Unions. Instead, we rely on the generosity of individual Conservative supporters and members.With a broad network of donors who are committed to giving a regular amount each month, we can plan strategy more effectively. So joining Party Patrons - or any of our donor clubs - is a great way to support the Party and become involved at the heart of the Party.........."
Does money talk? What do you get for your donations to the Conservative party? 

  • £5,000 Buys you membership in The Front Bench Club
  • £10,000 Buys you membership of  The Renaissance Forum
  • £25,000 Gets you into the Tory Treasurers' Group
  • £50,000 allows you to look at Cameron while he eats lunch at The Leader's Group
  • Fifty City donors paid over £50,000 in the 12-month period covered by our study – which would gain them a face-to-face meeting with David Cameron as possible members of the Conservative party’s Leader’s Group.
  • The hedge fund industry, the largest contributor across all business sectors, donated £1.38m (11.4%) to Central Office. Three individuals (Michael Farmer, Lord Stanley Fink and Andrew Law) contributed a combined total of £636,300.
  • Financiers were the second-biggest group of Conservative Party donors from all business sectors, accounting for £1.3m. The top financier donor was David Rowland, who contributed £1.16m and is linked to Banque Havilland and hedge fund Blackfish Capital Management. Private equity financiers, such as Alexander Knaster and Edmund Truell, gave £565,400.
  • Outside the City, the sector that donated the most to the Conservatives was industry, including manufacturing and defence. This sector contributed £913,411 (7.5%). The biggest donation from this sector was £300,000 and came from JCB Research. The Bureau Investigates  

Not forgetting if you have a spare £250,000 it will buy you access to Cameron in his private quarters in Downing St and if you are lucky you may even get to have dinner with Cameron and his wife and if you can push your donation up a little higher it may even buy you input into Government policy making!

It beggars belief that the Tories when in trouble always attempt to use union donations to try and discredit the Labour party, not to mention duplicitous and wholly hypocritical and totally misleading. Why don't the Tories care to mention that the Financiers in the City of London provided more than 50% of the funding for the Tories? And Hedge funds, financiers and private equity firms contributed more than a quarter of all donations to the Conservative party, prompting claims that the party is in thrall to the banks?

The Tories try to make mischief about the unions funding Labour, however, what they deliberately fail to mention that union funding in the Labour party is provided by millions of very small subscriptions from ordinary people and donations are declared, open, transparent and their accounts are available for scrutiny at any time. Unlike the funding loophole the Tories use! The Tories use a very handy "private club loophole", like the Portcullis Club and the Midlands Industrial Club (MIC)  club can have any amount of members who all donate hundreds of thousands of pounds to the Conservatives, yet none of the members need be named because they are members of a private club!

This from the party that says ot wants to clean up politics?

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