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…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Diane Abbott on Amber Rudd:

Who can have confidence in Amber Rudd to make far-reaching changes to the Home Office if she doesn’t seem able to get basic facts right?”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Trump Visit Confirmed Trump Visit Confirmed
Rudd’s Customs Union Bombshell Rudd’s Customs Union Bombshell
Heidi Bye? No Comment on Labour MP Quit Rumour Heidi Bye? No Comment on Labour MP Quit Rumour
Security Risk Sugar Baby Met Dave in No 10 Security Risk Sugar Baby Met Dave in No 10
London Knife Crime Up 21% London Knife Crime Up 21%
Len Threatens Labour MPs Len Threatens Labour MPs
He Who Must Not Be Named He Who Must Not Be Named
Williamson at Smeeth Hearing in Support of Her Abuser Williamson at Smeeth Hearing in Support of Her Abuser
Bastani Not Going to IPPR Bastani Not Going to IPPR
Labour Parliamentary Candidate: “I’m In The Mood to Beat Up Prince William” Labour Parliamentary Candidate: “I’m In The Mood to Beat Up Prince William”
Mogg: Number 10’s Customs Partnership Is a ‘Cretinous Betrayal of Good Sense’ Mogg: Number 10’s Customs Partnership Is a ‘Cretinous Betrayal of Good Sense’
Why Brexiteers Are Worried Why Brexiteers Are Worried
Two More Labour Candidates Posted About “Illegal Sexuality” and “Jewish Money” Two More Labour Candidates Posted About “Illegal Sexuality” and “Jewish Money”
Labour Spent £2 Million on Private Mailshots Labour Spent £2 Million on Private Mailshots
May Told to Ditch Customs Partnership “Turkey” May Told to Ditch Customs Partnership “Turkey”
Ministers Warn May: We Must Leave Customs Union Ministers Warn May: We Must Leave Customs Union
Adam Spliff Institute Celebrates 420 Adam Spliff Institute Celebrates 420
Nick Timothy Leaves Twitter Nick Timothy Leaves Twitter
Owen’s Descent Continues Owen’s Descent Continues