Though it’s not getting much coverage, apparently this morning Labour “launched an assault on tax havens in the Channel Islands, accusing them of letting people dodge taxes by hiding behind front companies and trusts.” With Operation – Keep – Ed – Off – the – Airwaves – for – the – Sake – of – the – Poll – Ratings in full swing, it was left to Chuka Umunna to do the lap of Millbank.
You might ask how someone who cannot even convince his own mother on the issue is in any position to lecture others on it. Chuka denies that offshore trusts were used to protect his inheritance, yet the Mail reported last year that the family used a complex structure of companies based in Jersey, and traced back to one RBC Trust, to purchase a million pound home:
“RBC, also based on the Channel Island, boasts it is one of the ‘top ten’ largest wealth managers in the world, offering services to ‘high net worth clients’ including ‘planning for and mitigating income, capital gains or inheritance taxes’”
And it’s particularly grating to be lectured on the evils of capitalism by someone who has clearly done so well out of it. Chuka’s spokesman confirmed to Guido earlier that his sharp look comes at a price. He tried to justify his bespoke Alexandra Wood suits, by saying “lots of Conservative MPs” are also draped by the “up and coming” tailor. Having spoken to the shop today, Guido can confirm that you don’t get much change from a grand for their cheapest number and a two piece wool would set you back around £1,200. Wood boasts:
“We are proud to have now made half of Mr Umunna’s wardrobe, about which he is immensely happy. We started designing his suits when he was working for Herbert Smith and now it is a privelege to be making suits for the man so frequently commented upon.”
So it’s not just one suit…
The average council tax bill in Chuka’s constituency is £1,235.11, something that many of his constituents will struggle to meet, yet he can blow the same, multiple times over, on just “half” of his wardrobe…