Vince Gets Aggressive

Vince Cable, writing in the Guardian this morning, has his usual mixed-bag of platitudes and soundbites on corporate taxation. He wants to widen the base, raise the take, simplify and cut corporate taxation. Fantastic, Guido wants world peace and to help children as well, just like any other beauty contestant. Vince also says;

“there is a strong case for a more aggressive approach to tax avoidance. The systematic and widespread avoidance of stamp duty land tax by corporate vehicles can be stopped quickly.”

Does he mean corporations like GMG Hazel Acquisition 1 Limited, set up in the Caymans Isles where the corporation tax rate is zero? This corporate vehicle allowed the Guardian Media Group to dodge stamp duty saving itself a mere £600,000. Surely not?

Incidentally, do you think when Cable was Shell’s chief economist, he pestered the board to drop all their tax base narrowing, take reducing, complex corporate tax dodging? Aggression, Guido suspects, has come late to Vince…




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