Monday, February 28, 2011

Miliband Think Tank Donor’s Tax Shirking

In Ed Miliband’s big speech this morning about the cost of living he said:

The task is to create a more prosperous capitalism…

It seems Ed has been converted to the cause of capitalism since becoming leader, despite having called himself a socialist many times over the course of his leadership campaign. And with talk of a “fairer” capitalism, presumably he meant things like taxing the financial services sector in a “progressive” way?

The Resolution Foundation, the venue for Miliband’s speech, is bankrolled by Clive Cowdery, an insurance tycoon and Labour donor. He spoke alongside Ed today to launch the foundation’s latest report. Cowdery sold Resolution Plc in 2007 for £5 billion, earning himself close to £150 million. As is the way with these things, he has based his company offshore in Guernsey, to minimise tax exposure, like The Guardian does. The company is effectively run from London through the limited liability partnership Resolution Operations LLP, the company made £1,189 million in net profit. If it was domiciled in the UK corporation tax on these profits could have amounted to £333 million. Miliband said:

I want to begin by paying tribute to the work of the Resolution Foundation… Politics today is being conducted in the shadow of the financial crisis: the argument about the deficit and how to return the economy to growth. But what your work is showing is that we cannot settle for a return to business as usual: life before the crisis hit.

That deficit is not helped by Resolution shirking one-third of a billion pounds in taxes. Gordon Brown’s former deputy chief of staff and economic adviser, Gavin Kelly, runs the foundation. So Ed’s call for a new way of doing things was made to friends, donors, tax-shirkers and long-term colleagues…

13 Counts in Kilkenny

The Irish have been counting the results of their general election on… Friday, Saturday, Sunday, and still today, Kilkenny has gone to a thirteenth count. Imagine if last year’s general election had taken days to count, n0t to mention negotiate a coalition at the same time. The markets wouldn’t have taken kindly to that…

Tectonic Plates are Moving for Bercow

As MPs return to Westminster today after their half-term holidays the Speaker might be well advised to reflect on the fact that half the PoliticsHome panel of insiders think Bercow won’t be Speaker by the end of the Parliament, and after reports that Ministers are ready to see him removed punters are now giving him a 25% chance of going this year. Watch out for procedural machinations…

Quote of the Day

Without any trace of irony Chuka Umunna says…

“We’ve had enough of people going into politics for self-aggrandisement.”

Rich & Mark’s Monday Morning View


Seen Elsewhere

NUT’s Loony Defence of Status Quo | Jago Pearson
A Dozen Reasons to Be Cheerful | John McTernan
Political Bloggers Are Equal Opportunities Attackers | ConHome
Michael Gove Should Resign | Conservative Women
Sarah Wollaston’s Naming and Shaming of Bloggers | LibDemVoice
Fraser Nelson: Put Your Money on Ed Miliband to Win | Guardian
Guido Fawkes is Too Aggressive | The Times
Ditch Tobacco Plain Packaging | Grassroots Conservatives
What Farage, Boris and Rob Ford Have in Common | William Walter
Labour Spell New Adviser’s Name Wrong | ITV
Dave Stung by Jellyfish | Sun


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Rod Liddle on the loony UN sexism special rapporteur:

“There is more sexism in Britain than in any other country in the world, according to a mad woman who has been sent here by the United Nations.

Rashida Manjoo is a part-time professor of law at Cape Town University in the totally non-sexist country of South Africa (otherwise known as Rape Capital Of The World).

Mrs Magoo has been wandering around with her notebook and is appalled by the sexist “boys’ club” culture here, apparently.

I don’t doubt we still have sexism in the UK. But is it worse than in, say, Saudi Arabia, d’you think, honey-lamb? Or about 175 other countries? Get a grip, you doolally old bat.”



orkneylad says:

What’s he been doing FFS, mining bitcoins?


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