November 23rd, 2012

Priti Patel Demands “Hodge the Dodge” Calls Stemcor to PAC

Priti Patel has written a strongly worded letter to Margaret Hodge demanding that she calls Stemcor in front of the Public Accounts Committee for a grilling –  as Chair of the PAC she would have to stand aside when Stem or gave evidence to avoid a conflict of interest because of her position as a shareholder with millions tied up in Stemcor. Her family firm has a multi-billion pound turnover yet paid a mere £157,000 in tax. Much like Google, Amazon and Starbucks who have already appeared in front of the PAC…

Letter in full:



  1. 1

    It’s a tiny, tiny, tiny letter.

  2. 2
    V1le Labour ruined my Country says:

    Are all Labour MPs mutimillionaires?

  3. 3
    Iminlovewithemmamcclarkin says:

    Priti has a very nice signature !

  4. 4
    I don't nee d no doctor says:

    How many labour mps get a cheque for £40,000?

  5. 5
    Anonymous says:

    I feel priti, oh so priti, i feel priti and witty and wise!!!!

    Next tory leader please.

  6. 6
    Zeus says:

    I like the cut of Priti Patel’s jib.

  7. 7
    Kcud akcuf says:

    £157k pahhh, nothing for the little people, ehh Tony………..

  8. 8
    All tax is theft. says:

    “Her family firm has a multi-billion pound turnover yet paid a mere £157,000 in tax”

    Excellent. Other than the fact that Hodge is obviously a hypocrite of Biblical proportions, I don’t see a problem with this. Indeed, there is no problem with this.

    What would the government do with the tax, anyway? Windfarms? Aid to nations with nuclear arsenals? Maybe send it all to Brussels, so the Euroscum can burn it?

    Good old Hodge. She done good.

  9. 9
    as per rotten says:

    Priti VaHunt

  10. 10
    The worst idler in the world says:

    She does seem to have a point.

  11. 11
    matt says:

    Ouch !! That’ll hurt in the morning.

  12. 12
    notcallmedave says:

    Priti for Prime Minister

  13. 13
    jaykay says:

    Don’t expect to hear anything about this on the BBC, The Guardian, The Independent, The Daily Mirror, Channel 4 News, The Financial Times, The New Statesman or any Left Wing Blog. Wouldn’t want to encourage any talk about hypocritical, multi-millionaire champagne socialists would we?

  14. 14
    retardEd Miliband (socialist hero and multimillionaire) says:

    We’re only paper millionaireth. We do not believe in unearned wealth, tho we’re thimply holding on to thith money – thith mountain of money – until the revolution. Then we’ll thare it out to all our comradeth.


  15. 15
    Anonymous says:

    Seriously Guido, neither you nor Patel have a fecking clue about how corporation tax works as seen by this letter.

    “(i) turned over f,2.1bi11ion in the UK but (ii) paid as little as f157,000 in UK corporation tax”

    The amount of tax that is due is not related in any way, shape or form to turnover. It is solely related to taxable profit.

    Patel is making a complete tit of herself here…and you’re helping her.

    Do carry on though – it’s quite funny watching it…

  16. 16
    Anonymous says:

    Maybe because as I’ve explained below it’s utter nonsense.

    If Patel talked to a tax accountant she might learn something. Then she might wish she’d never started this.

  17. 17
    Complete DIY Morality Manual says:

    You are a very naughty girl

  18. 18
    ed ball less says:

    Witham where ever it is has a fine MP with cojones. Keep it up they don’t like it up em.

  19. 19
    Epistleator says:

    She writes a good letter

  20. 20
    A Woman of Colour says:

    Orl de layba massa am de wellfy an Grodon am de bestus massa

  21. 21
    A Money Changer in the Temple says:

    The government will be paying Margaret Hodge’s salary and pension package but not quite managing to cover her expenses as well. They will tax people on minimum wage to make up the shortfall.

  22. 22
    Rupert my Hero says:

    Quite rightly, these Companies avoid paying Corp Tax here, because they can.
    That is the fault of Government and too many vested interests in their ranks..

  23. 23
    Old Blue Eyes says:

    Who says there’s no talent in the Conservative party. Come on Dave, get her in the cabinet.

  24. 24
    A Money Changer in the Temple says:

    Patel’s criticism is identical to that which Hodge decided should be levelled at others.

  25. 25
    A Money Changer in the Temple says:

    And in the ranks of the Labour Party, which include the likes of Hodge

  26. 26
    Witham or Withoutem says:

    It is the capital city of SX and has a fine river which, from ancient times, supported a vigorous trade with the continent, exporting tin, iron, and fine cloth.

    It is now known for its highly rated sluts, night life, and in-breeding.

  27. 27
    Chris Huhne is a very nice and morally-upright person says:

    BUt the point is that the turnover (which should realise a profit in normal trading) is being diverted so that it cannot realise that profit.
    Now, turnover is diverted to pay for lots of things (perfectly naturally) but some items are reasonable but the amount of turnover diverted to that item is not reasonable but contrived. It is the unwillingness to face up to the contrived nature of some of these payments that is the failing. When it can be seen that it is these contrived payments(as I characterise them) are the ones that strip out the profit the nature and motivation becomes clear.
    When you stand back and consider that companies are not charities (an argument used to justify them paying the minimal tax possible), that argument has a flip-side: what the hell are they expending all this energy doing in the UK to make a tiny profit. The answer is that they are making lots of profit FROM US but diverting it offshore disguised as expenditure.
    Very simple – any linked trading to be at market value which, if there is no agreement, is to be assessed so that the UK arm makes the same ratio of turnover to profit that the company makes at its (offshore) HQ or principal place of business. It just needs testicles to face these companies down. Start hinting at fraud/cheat in relation to these contrived payments and the landscape will change.

    What if they re-locate? Do you really think that no-one will supply books or coffee in the UK.
    Sorry its a long comment.

  28. 28
    prittle prattle says:

    1 but given the choice would any of us pay tax?

    2 isn’t this the patel calling the (stainless steel) pot ‘grimey arse’?

  29. 29
    Anonymous says:

    I didn’t realise until the other day that left-wing firebrand Jon Cruddas is Margaret Hodge’s nephew.
    I wonder if he benefits from Stemcor?

  30. 30
    Chris Huhne is a very nice and morally-upright person says:

    Further to what I have said above, this is an extremely good letter by PP.

  31. 31
    Expat Geordie says:

    I went to Witham once, a long, long time ago.

  32. 32
    A Money Changer in the Temple says:

    She has an excellent point.

  33. 33
    Sarah says:

    Hodge the Dodge.

  34. 34
    Anonymous says:

    I’m delighted that Priti has started this.

  35. 35
    meself himself says:

    I think that’s rather good – don’t you?

  36. 36
    pee the pee says:

    P the P

  37. 37
    Mandleson says:

    We are intensely relaxed about people becoming filthy rich.

  38. 38
    pee the pee says:


  39. 39
    Anonymous says:

    No it isn’t.

    Starbucks report to its shareholders that it is doing well in the UK while reporting a loss to the tax authorities.

    Those statements can’t both be true.

    We simply don’t have enough information right now to know whether they’re paying the right tax or not – simply quoting a turnover figure against a tax figure is financially illiterate.

  40. 40
    Anonymous says:

    “BUt the point is that the turnover (which should realise a profit in normal trading) is being diverted so that it cannot realise that profit.”

    Oh really?

    And how do you know that?

    Trading companies have high turnover and low margins. Sometimes *gasp* if markets go against them they make a loss. That’s what trading companies are all about.

    Right now Patel is grasping at straws.

  41. 41
    Foster parents 'stigmatised and slandered’ for being members of Ukip says:

    Bears repeating

    A couple had their three foster children taken away by a council on the grounds that their membership of the UK Independence Party meant that they supported “racist” policies.


  42. 42
    A Money Changer in the Temple says:

    Did you know she is married to a judge?

  43. 43
    Dave says:

    Talent? – er no – rather not old boy!

  44. 44
    Don't tease says:


  45. 45
    Owen Jones says:


  46. 46
    Expat Geordie says:

    A long comment but a good one.

    Corporation Tax is 24%. Therefore £157k CT paid means that profits were about £640k. On a £2billion turnover?

    I could stick that £2billion in my Nat West current account, which pays a whopping 0.1% p.a. on any credit balances, and still make a £2million profit, paying £480k Corporation Tax.

  47. 47
    Yellow Rose says:

    No, Patel is showing up the idiocy of Hodge’s critique.

  48. 48
    Francois Holandaise says:

    Zut Alors! Que est que Dave sur?
    Donnez-vous plus d’argent.

  49. 49
    jaykay says:

    Absolutely correct. These are the tactics that Labour use, and thanks to the BBC, Guardian etc, get away with all the time. If spineless Dave had done this a few years ago he might have won a majority at the GE. Who cares if Patel is not 99.9% accurate, Labour are more than overdue a dose of their own medicine.

  50. 50
    Anonymous says:

    “On a £2billion turnover?”

    So what were the purchase costs of the products that the company traded?

    Oh, we don’t know…dear me – some of you people really are dim.

  51. 51
    jaykay says:

    Sorry, that should read: “only 99.9% accurate”

  52. 52
    Anonymous says:

    “Who cares if Patel is not 99.9% accurate”

    At the moment she is 0% accurate because we simply don’t have enough information to know whether the tax paid is right or wrong.

  53. 53
    Operation Crossbow says:

    Nice to see Newsnight back to the anti Tory phone hacking rubbish once again. By the way whatever happened to the two investigations into the BBC and Newsnight? I thought one of them at least was supposed to have reported by now?

  54. 54
    Valerie Trierweiler says:

    The most common approach to keeping your Hollandaise cool is to use a bain marie, which has the benefit of keeping your delicate eggs euro away from direct heat, but, as a flip side, this creates more washing up.

    I set a heatproof glass bowl over a simmering bond market, add three egg yolks and a little water, then gradually pour in 200g of “almost-melted” butter (by which I assume stuff which has a few lumps swimming in it), whisking furiously. It takes bloody ages to thicken, and then it can be spoilt by squeezing in too many bureaucrats to loosen it, but it tastes as good as yolks and butter ought to. A good safe method for the nervous president.

  55. 55
    Nanny State says:

    You know it is past your bed time. Turn off the light and go to sleep.

  56. 56
    Living in 98 percent white Merseyside (with a view towards 99% white N. Wales) says:

    Priti Patel is on a slippery slope. People in glasshouses and all that. Down to earth with a bump soon I hope.

  57. 57
    Anonymous says:

    Is that you Margaret ?

  58. 58
    Everything in its place says:

    In future if Margaret Hodge or any other MP for that matter, wants to practice her hypocrisy could she please do so in the privacy of her own home. A commons select committee is not the place to do so.

  59. 59
    Anonymous says:

    I doubt whether she would know how it’s calculated either – I used to do this stuff for a living…in a group with a trading company.

  60. 60
  61. 61
    Anonymous says:

    Surely she wouldnt have started this if she had anything to hide ?

  62. 62
    The public says:

    We would rather they expose themselves and their nonsense in public. Then we can see what total mongs they are.

  63. 63
    Rupert my Hero says:

    I always thought a “Chair” was something one sat upon, having read the above letter, I do so wonder if it was written in Good English, whether there would be more impact to the comment expressed.
    That said, having viewed the legs of most female Members, perhaps Chair is the right word after all.
    Guido, as a word-smith, step forward.

  64. 64
    The public says:

    Does that mean we can spill the beans now and not be sued?

  65. 65
    Saffron says:

    Well done Prittaze,this Hodgazee woman needs taking to task.

  66. 66
    Saffron says:

    This briatazee chancer also is being shown up y fronts and all what an absolute feckin ba–ocks he is.

  67. 67
    Chris Huhne is a very nice and morally-upright person says:

    BUt your reply doesn’t answer the point. The point is that they are not making payments in “a market” otherwise a “market price” would be ascertainable and the false nature of the payment manifest.
    They are made only between linked companies and only for intangibles so that they cannot be compared to a “market” Therefore the royalty or other intangible extracts the maximum from a company which would never in its right mind make such a payment to a arm-length third-party.
    That is why franchisees do not hand over all their profits to the franchisor, just some. If the franchisor sought to reduce the franchisee’s profits to virtually zero then they would not be marketable. And yet these connected companies seem to wish to set up and trade.

  68. 68
    Saffron says:

    Dave the rave and the EUSSR unelected riff raff on big pay.
    Todays jamboree proves nothing,will we see a reduction in their budget,no they will not allow it and wavy davy is pi–ing in the wind.
    Grow a pair man an tell em to get stu–ed,but I doubt he will.

  69. 69
    Bollocks to Getting a Pseudonym says:

    How the fuck did you get a peerage?

  70. 70
    MP says:

    Seems ok to me. Can i get a taxi to Witham from Westminster on expenses? I’m frightened to get on the night bus.

  71. 71
    Chris Huhne is a very nice and morally-upright person says:

    (Thank you Expat Geordie)

    There are companies that have a high turnover and low profits because the costs of sales are high; that happens to be the business model and it is not for criticism per se

    It is when the cost of sales are artificially increased in one country (abroad) to suppress profits in another country (UK) in circumstances where the price for the item is not readily ascertainable by reference to the market (eg royalty) because the companies are linked. Such payments are contrived, they are false and are a fraud.

    Just because it is difficult to say where exactly the line is, does not mean that you cannot recognise when it clearly has been crossed. This line -linked payments – has been crossed to the point of absurdity. It is fraud.

  72. 72
    Bollocks to Getting a Pseudonym says:

    I didn’t know they were related, but it doesn’t surprise me. Labour is nepotisdtic, going on incestuous.

    (To the tune of “The Addams Family”)

    Your sister is your mother.
    Your father is your brother.
    You’re fucking one another.
    The Labour family.

  73. 73
    albacore says:

    So when will they call in the E U for interrogation?
    Eighteen years of failed audits might just need some explanation
    Still, tax, borrow or print, Parliament’s of one accord
    There’s no questions asked when the benefit flows abroad

  74. 74
    Owned Jones says:

  75. 75
    IMHO says:

    They were tucked away on CBBC, the kids are all right.

  76. 76
    Tay King-dePisse says:

    Bit of a “Fester”-ing sore on the body politic, you might want to call it.

  77. 77
    Oh so priti says:

    I like Priti Patel. She’s ripping Margaret Hodge a new arsehole.

  78. 78
    quelle suprise says:

    but it very succinctly states the exact impression most people have of you Lady Hodge…indeed watching your recent performance with Anthony Fry et al from the BBC ..your chairship of the committee is more like watching bad TV with an overbearing off the cuff anchor. If you think the legal fees are strong for the bbc executives the costs of policing your mouth for a commercial network would dwarf them.

    What you of course fail to recognise is that whilst we seek to gather more tax from overseas owned operations here …..the whole issue is well worn and is a two edged sword …we also derive benefits across the globe for our own multinational companies just as they do. The way in which you are exercising your enquiring duty as Committee chair is descending into a congenital manner that discredits the role but evidentlty you clearly fail to recognise that.

    You and your labour colleagues spent 13 dissolving the growing economy of 1997 into chaos by 2010.

    Frankly your grandstanding is risible… we all look forward to hearing your responses to the questions you are being asked yourself.

  79. 79
    dog says:

    Whats wrong with using the same methodology as Margaret Hodge and pals at the Guardian use on Google, Amazon and Starbucks. If Priti Patel is wrong then so Margaret Hodge. You can’t have it both ways

  80. 80
    BBC Public Announcement says:

    We like phone hacking. When Tories phone hack it keeps those pesky stories about BBC employees who have their hands down children’s huggies out of the news. Hacking Hugh Grant’s phone to find out when his next hooker appointment takes place is far more repellent than years of covered up child abuse – ( more phone hacking please you nasty repellent Tories).

    Now you may resume listening to Mishal Hussain saying Hamas launching rockets is preventing ‘anything worse happening’. Thank you viewers.

  81. 81
    Anonymous says:

    Naive twat. Priti alludes to unethical transfer pricing policies that are designed to shift the profits to less onerous tax jurisdictions. It happens in many companies and I’m surprised that the HMRC haven’t come down harder on the substance of these transactions rather than their form.

  82. 82
    Labour...filth...just filth says:

    a complete pack of jokers choking on the One Nation script charismatically led by the birdshit boy wonder and untrusty sidekick balls.

  83. 83
    The wizz says:

    Sorry, I’m afraid they have ben subverted.

  84. 84
    nellnewman says:

    Margaret Hodge = do as I say not as I do!!

    Arrogant Odious woman!

  85. 85
    Anonymous says:

    Let’s see the intercompany transfers and their margins, management charges, sla’s etc then we can judge whether the transfer pricing is being done at arms length under normal commercial terms. If they’re paying more tax than in the UK in jurisdictions in which they have a materially lower turnover then I would suspect shady transfer pricing somewhere along the way designed to shift profits to these low tax countries.

  86. 86
    Tay King-dePisse says:

    What would publicity hounds like Tom Watson and Louise Mensch do if they took that advice and they hadn’t sat on the Media select committee? “Hi, folks, I’m a writer and I want to have all the freedom in the world to write about what I want to write about, so I’ll serve on a Committee that investigates what other people write about me.” The print media being scrutinised by Fat Bastard and the “Bag” Lady– curiouser and curiouser, as a certain dodgy Mr Dodgson might have put it.

  87. 87
    quelle suprise says:

    quite right Anon but the numbers are secondary in this instance…the way in which Hodge appears to believe that her own interests are not relevant when she continues to make quite arbitrary remarks as chair of a house committee is ill considered.

  88. 88
    Quiet Bat Person says:

    congential…. congenial…?

  89. 89
    Tom Twatson says:

    I like the way Newsnight had a biog picture of Dave right behind Max Clifford’s head. the implication subtly being

    “this story is about phone hacking..Cameron has been hacking into your phone..what an evil little turd he is, isn’t he?”

    Thanks Newsnight. We owe you one. Extra £10 on licence fee in 2015 when Milibland gets in. And another £5 when Ed Balls deposes him in 2016. Just keep feeding the stories we give you to the lemmings.

  90. 90
    quelle suprise says:

    you are so unpredictable Anon…no ones knocking the logic of what you are saying…the arguments about numbers is given but you and I know this is infant school international business…after furniss v dawson retrospectively changed the rules about overseas company ownership the whole complex of british international business changed beyond all recognition after exchange control rules were lifted in the late seventies. The manipulation of funding to maximise profit and minimise tax is no more a priority now than it ever was…a vital part of international trade development.

  91. 91
    Sally Barecow says:

    Please can someone untape my thumbs from the bedposts.

  92. 92
    Your Friendly Neighbourhood Barbaric Third-World Practices Watchdog Service says:

    We believe that, if she’s of Hindu background and not Muzzie, we would surmise, therefore, that her jib is not cut, as it is the Muzzies who engage in that sort of horrifying thing.

  93. 93
    Polly Pot says:

    Starbucks and Amazon and Google are evil predators. That’s why I only use them a couple of times a day.

  94. 94
    Polly Pot says:

    Thatcher started it.

  95. 95
  96. 96
    Don't tease says:


  97. 97
  98. 98
    Lord Jensen Interceptor says:

    It would be easier listing the ones that do not get a cheque for £40000.

  99. 99
    Don't tease says:

    Fascinating. It seems that polticial pluralism and the rule of law no longer applies in some of the far left run local authorities in a number of parts of the country.

    Eric Pickles has been totally useless in sorting out these Labour fiefdoms.

  100. 100
    Lord Jensen Interceptor says:

    I doubt if you will hear about it in the Spectator either. They gave her a gong this week at their annual awards bash. Best Parliamentary Inquisitor or something.

    Fucking unbelievable.

  101. 101
    quelle suprise says:


  102. 102
    lock the doors... says:

    herman vit de rumpus is in the house….

  103. 103
    Jesus Christ says:

    I think she has just got a little bit lost. With no real beliefs in anything, and nothing else to do with her time, she thought she could make a moral point, totally forgetting that she has been living an utterly amoral existance for many years.

    The best thing for her would be to sell her shares and give them to the treasury to help pay off the national debt her government helped build up.

  104. 104
    the old dufflebag says:

    sue didn’t arrange all this did she ?…or is it just the curse of the chingrinner bigot ?

  105. 105
    mr squeaker says:

    over my dead body

  106. 106
    A Sovereign Nation says:

    Good idea. There is no reason why our Parliament can’t summons EU officials to explain themselves. They, of course, can refuse to come, but then there would be no reason why this country shouldn’t cease any payments to Brussels until they comply.

  107. 107
    The Spooks at Play says:

    Sounds unusual. Do we have to bring our own hold-alls?

  108. 108
    JabbaTheCat says:

    Might have something to do with the dear leader sharing the EUSSR EFD grouping with Italian fascists, but then typically the UKIP mushrooms don’t bother researching who they are voting for…

  109. 109
    Talk About Thick says:

    ”Starbucks report to its shareholders that it is doing well in the UK while reporting a loss to the tax authorities.”

    You do realise most Starbucks in the UK are fucking franchises you moron?

  110. 110
    Talk About Thick says:

    History will mock our generation of failures for allowing farces like this to happen.

  111. 111
    Eunuchonomics says:

    I am sure uk uncut will be foaming at the mouth over this intolerable hypocrisy. Not!

  112. 112
    BBC directorate of the enviroment says:

    Dear comrades,

    We at the BBC go to extraordinary lengths to expose Tory hypocrisy and tax dodging. You can trust that we at the BBC pride ourselves on our totally impartial and utterly fearless and yet unbiased and highly ethical investigations into the endemic corruption seething beneath the surface of the Tory party. Of course there are a tiny handful of wonderful honest Tories like Tim Yeo but you can be sure that the BBC will uncover and expose the nasty party and its nasty side, we have a billion a year and will use it all to see the enemies of wonderfulness are annihilated.

    The BBC has long had a fabulous unmatched record of trustworthy impartiality combined with a single minded determination to bring the right wing enemies of progressive wonderfulness to account for their crimes against humanity and their attacks on social and environmental justice. We will attack and destroy the forces of evil planet killing right wing capitalism wherever we find it, and its everywhere.

    Yours in comradely solidarity with Gaza victims of the right wing war mongers.

    Jihad Mustafa Khalid Sheik Bin Laden.

    BBC supreme directorate of investigations.

  113. 113
    Oh, Right On!!!! says:

    Oh, Right On!!!!

  114. 114
    Jimmy says:

    With Dorries out is she now officially the thickest remaining Tory MP?

  115. 115
    smoggie says:

    After a year or two in the job, yes.

  116. 116
    Anonymous says:

    Dear Lady Hodge,

    Please be careful and watch what you are doing. Think of what would happen to you if those dreadful socialists return to power.

  117. 117 says:

    It is the moral duty of people working in the private sector to make money for their shareholders.

    It is the moral duty of MPs to make laws that spend the taxes of its citizens wisely and make private companies pay as much tax as they should be paying.

    The failure is that of incompetent (or corrupt) MPs and parliament not private companies.

  118. 118 says:

    In a football match you don’t hear a referee saying ‘you have a moral obligation not to dive in the penalty area’.

  119. 119
    Rumpelstitskin says:

    Is that really you darling?

  120. 120
    Sally buried in a Y shaped coffin says:

    Are you alright down there?

  121. 121 says:

    Vote Labour…..or else. How long before the Tories have the same stigma attached to them? I mean they are lower than vermin. Someone said so, so it must be true. Just because they live in Yorkshire is no excuse for such bigotry being used against the couple.

  122. 122 says:

    Oh please do fuck off to a website that caters for your kind of bigotry.

  123. 123
    David B says:

    Well said

  124. 124
    Living in 98 percent white Merseyside (with a view towards 99% white N. Wales) says:

    She’s an MP!!

  125. 125
    lojolondon says:

    Nice one, Priti – a Tory who takes the fight to these scum, you have my vote!!

  126. 126
    lojolondon says:

    (Although to be honest I always vote UKIP!)

  127. 127
    Parky says:

    So what Google, Starbucks & Amazon do is ok then? No, thought that might be different. Hypocritical lefties. Starbucks etc… should go on a PR offensive over this, dragging Hodge and all the others into the mire.

  128. 128
    Rotherham Council says:

    UKIP, eh? We will come and remove your children at once.

  129. 129
    Anonymous says:

    Hislop for PM. Now.

  130. 130
    Anonymous says:

    margregret open.heim,mer


  131. 131
    Anonymous says:

    john lewis.
    wants, fair playing field.

  132. 132
    Anonymous says:

    she has stiff shoulders,
    she is stiff,

  133. 133
    Anonymous says:

    responsibility denial.

  134. 134
    owen jones .. sounds like a shop says:

    scruffy little twat needs a good smack in the kisser with a damp bogbrush…reminds me of a derek hatton or that livingstone person …

  135. 135
    Rumpledforeskin says:

    yes darling .. with a few friends just hoovering out your breadbox…don’t have a paddy

  136. 136
    Ukip on the job... says:

    very profound grasshopper

  137. 137
    Pa snip snip says:

    Have you had hat Qureshi woman checked out?

  138. 138
    Anonymous says:

    What a pathetic response. it seems whenever anything untoward happens concerning the Labour shower, the response is Thatcher started it. I just wish we had Thatcher now, at least when she was in power she didn’t bankrupt the UK., as Blair and Brown did.

  139. 139
    The Dirty Rat says:

    I am totally biased as because Starbucks sells shit coffee and I would love to get inside Priti Patel’s Sari.

  140. 140
    Chef de Blancmange says:

    C’est une croque madame…..!

  141. 141
    Chef de Blancmange says:

    Et la belle Hodge aussi, non?

  142. 142
    lojolondon says:

    Well, that is the problem, innit? Remember the good old days when we used to point to the Soviets as heartless manipulators, punishing people for belonging to a club?

    No thoughts for the children’s welfare! I hope to see heads roll over this, but they won’t because the left wing press, BBC and government will gloss over it.

  143. 143
    I know a faux morality when I see one says:

    Pity Hislops morality doesn’t care about the hundreds of innocents ( as opposed the handful) who have been murdered in the triple increase in the murder rate since abolition.

  144. 144
    Taxpayer says:

    Buy a house there, we’ll pay for it no problem, rent it out to another MP and pocket the cash you’d be a fool not to.

  145. 145
    I know a faux morality when I see one says:

    Hislops argument should also apply to warfare where no shot should be fired, no bomb dropped, no missile launched just in case an innocent gets killed. I take it he is a pacifist ?

  146. 146
    I know a faux morality when I see one says:

    The Political extremists responsible or this decision should be sacked forthwith. There is no room for such fanaticism in our public services.

  147. 147
    Iminlovewithemmamcclarkin says:

    This is from Stemcor’s website

    Stemcor announces full year audited results 2011
    29 March 2012


    Turnover increased by 22% on 2010 to £6.3bn.
    Tonnage invoiced remained static.
    Pre-tax profit of £65m down 22% on 2010, due to a challenging second half.
    Return on Shareholders’ Funds 9% compared to target of 25%.
    Substantial profit contribution from mining investments.
    Business units serving the oil & gas sector performed well.
    Investment in five service centres/stockholders during the year in Belgium, Portugal, Spain, the UK and the USA.
    Strong order book gives grounds for confidence going forward.
    Contribution anticipated in Q4 2012 from Brahmani River Pellets Limited, the Group’s new iron ore pellet plant in India.

    Extracts from Chairman’s statement

    After a solid year in 2010 and a good start to 2011, our results for the full year were disappointing. Our performance followed the pattern set by the world economy. Stock markets fell in August and steel prices began to decline in September, as the prospects for the Eurozone appeared to deteriorate and economic uncertainty spread around the world.

    We are reporting a Profit before Tax (“PBT”) of £65 million. For the previous year, 2010, we reported a PBT of £84 million and for 2007, prior to the global financial crisis, £65 million. 2011 appears superficially to have been a relatively decent performance. However, our non-mining operations contributed only a third as much to PBT in 2011 as they did in 2010. As a result, not only did PBT reduce year on year, but a much larger proportion of it accrued to our mining partners.

    Then they say this in their Media section of the website

    UK tax paid in 2011

    Over the past five years Stemcor has paid £27m in UK Corporation Tax, an effective tax rate of 32% based on UK generated profits. This compares to an average corporate tax rate in the UK for the same period of 28%.

    A high turnover gives no indication of profit. Corporate tax is levied against profits, not turnover. As a trading company, Stemcor’s profits tend to be only around 1% of turnover and, in difficult economic conditions, profits are quickly eroded. The tough economic environment in the UK squeezed margins during 2011, resulting in a loss of £2.9m on UK operations, which reduced Stemcor’s UK tax payments compared to prior years. In 2009, by contrast, despite the fact that the Stemcor Group globally made an overall loss of £16.5m, a profit was made in the UK and consequently £8.5m was paid in tax that year in the UK.

    Stemcor is a group of operating businesses with physical presences in many different jurisdictions across the globe. Taxes are paid on profits (at rates of up to 40%) to the local tax authorities at local rates, be they in Australia, the USA, the Far East or Europe. In recent years, economic activity has been low in Europe, including the UK, resulting in little or no profit being generated in this region. However, results elsewhere have been much stronger, resulting in tax paid on overall profits of 41% and 39% in 2011 and 2010 respectively. These are clearly much higher rates than the current UK Corporation Tax rate and show that Stemcor is in no way a tax avoider. Total taxes paid globally on profits by Stemcor in 2011 amounted to £33.9m

    NOTE globally tax paid, not in the UK. Like all Labourites, selective memeory is in operation.

  148. 148
    Anonymous says:

    After Clattenburg, wise referees don’t say anything.

  149. 149
    Spank Sinatra says:

    A good letter, well constructed and worthy of wider circulation. The issue of transfer pricing is complex and requires studying on a case by case basis. The issue which the Government of the day has to balance is the need for the UK economy to remain attaractive as a place to invest whilst ensuring that tax receipts generated as a result of that investment in the UK are paid in full and not hidden offshore. Full disclosure has to be mandatory. If, as a result, it seems likely that companies will re-locate elsewhere due to a higher perceived tax burden then simply reduce Corporation Tax to a more competitive level.

    I heard her the other day suggesting that people look elsewhere than Amazon for their purchases etc. ‘People power’ is all well and good for companies whose clients consist mainly of the man/woman in the street. The same does not apply in the case of her ‘family’ business which is precisely why greater scrutiny must be applied.

  150. 150
    Nick Griffin says:

    I wish Griffin had won Barking and Dagenham after all!

  151. 151
    Do as I say, not as I do says:

    LADY Hodge? Lady? wtf.

  152. 152
    Arthur Foxache says:

    I am bitterly, bitterly disappointed….

  153. 153
    Arthur Foxache says:

    I am bitterly, bitterly disappointed that they did not remove mine..

  154. 154
    Great Granddad:Prime Minister in Waiting, New Utopia Party says:

    Wherever I go at the moment, msm or net, all I get to read of is pedophilia or incest. Where are my honest supporters to come from?

  155. 155
    Demagogue says:

    You could say it’s very ‘Priti’….

  156. 156
    Lady Virginia Droit de Seigneur says:

    Hislop no longer has the credentials to be the editor of a magazine like Private Eye. He does so much work for the BBC that it will certainly colour his views.

  157. 157
    keredybretsa says:

    Excellent, but one hopes that the writer has a clean bill of health and no skeletons hanging around in a cupboard somewhere. M’Lady Hodge the Dodge has a whole cupboard of teeny, tiny skeletons waiting to fall on her.

  158. 158
    Dg says:

    What a dumb couple of points by faux. First, he begins with a logical fallacy. Causation does not equal correlation. Now according to faux….going to war is like executing innocent people for crimes they didn’t commit. The only obvious point is that in the latter, you can still protect people from murderers by locking them up. That is why we have jail. Unfortunately, we cannot have such a measure to deal with the taliban

  159. 159
    Dg says:

    Or I should say…..correlation does not equal causation.

  160. 160
    Anonymous says:

    Whatever happened to those photographs taken of Madeleine McCann by Margaret Hodge’s nephew on May 3rd 2007, the day she disappeared?

    “Therefore, I can confirm that whatever information I had (including some photos of my sons taken on the day Madeleine disappeared, which showed her in the background) was passed both to the police and to the McCanns at the time. ”
    (Response to Tony Bennett by Philip Edmonds, nephew of Margaret Hodge and director of Stemcor,

    And yet, despite running the world’s largest missing child campaign, the McCanns (and/or the police) have chosen not to release what could be the last photos taken of their daughter.

  161. 161
    Jap says:

    1991 – 1992 caused by Thatcher.

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