UBM has announced that it is fleeing Britain’s rapacious tax regime for the friendly and more welcoming business environment to be found in Ireland. Vince Cable has condemned UBM as corporate tax dodgers.
To be fair UBM management have to keep their shareholders happy – shareholders like the farm minister Hilary Benn.Just got off the phone with Hilary Benn’s SpAds, they promise to get back to Guido. They are going to ask Hilary what, in the circumstances, he is going to do with his significant and correctly declared, shareholding in United Business Media (thought to be worth 7 figures). Will he divest, vote against the move or sell his shares?