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

Rich & Mark’s Monday Morning View


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Russell Brand Comes Out as 9/11 Truther | Guardian
Health Revolution is Underway | Fraser Nelson
UKIP Gets Professional | Red Box
Kelly Tolhurst Wins Rochester Open Primary | BBC


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Austrian Chancellor Werner Faymann on Cameron’s refusal to pay the £1.7 billion EU bill by December 1st:

“Well, then he’s gonna pay on December 2nd”



Mycroft says:

Have you read the last bit of Animal Farm?

You know where the animals are looking through the Farmhouse window?

My TV screen was that window at lunch-time today.

Be careful, the sudden self-congratulatory tone, the slightly pudgy outline of indulgence and you become exactly what you should despise.

The jolly face of the Quisling Cameron poses for your camera has mesmerised and deceived you, you who were once not so deceived.

You were no firebrand, you were a damp squib in my opinion, sorry.

You need a damned good kick up the ahse!


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