Labour Tell Donors How to Dodge Tax Too

Yesterday it was the Tories advising their top donors on how to avoid tax through a controversial “legacy” scheme. The story had considerable traction and unsurprisingly provoked considerable outrage among Labour MPs:

Guido can now reveal that the Labour Party offers an almost identical scheme to help its supporters dodge inheritance tax as well. Labour’s “Leave a Legacy” programme offers advice on three different methods of leaving money to the party, even going as far as to suggest clever a legalistic wording of donors’ wills in order to minimise tax liability:

Labour have led the way on bashing tax dodgers, with everyone from the shadow cabinet to the backbenches queuing up to stick the boot in. Starting with trigger-happy tweeter Steve McCabe, Guido wonders what they have to say about their own party being directly involved in a tax avoidance scheme. They call that red-handed…




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Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

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