McDonnell’s £14,000-a-Year Pension Managed in Guernsey

“There has been one rule for the rich and another for the rest of us,” said John McDonnell yesterday as he called on the PM to answer if he had “benefited directly or indirectly” from offshore funds. When McDonnell published his tax return and P60 he disclosed £14,421 in income from his Westminster City council pension. Like other former Westminster City council employees, McDonnell’s pension investments are managed by the City of Westminster Pension Fund Committee. In November 2014, the committee invested £100 million with Longview, an active global equity manager. This is the disclosure of the investment in their annual report:

longview

You will never guess where Longview Partners is domiciled:

“Longview Partners (Guernsey) Limited is licensed and regulated by the Guernsey Financial Services Commission”

Not sure Mao would approve. Although he did always warn of “a serious tendency towards capitalism amongst the well-to-do peasants”…




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

Quote of the Day

President Trump at the UN:

“The problem in Venezuela is not that socialism has been poorly implemented but that socialism has been faithfully implemented.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Labour Moderates Screwed Labour Moderates Screwed
WATCH Boris: “I’m Not Resigning” WATCH Boris: “I’m Not Resigning”
Corbynistas Seek Right to Suspend NEC Elections With “Venezuela Amendment” Corbynistas Seek Right to Suspend NEC Elections With “Venezuela Amendment”
Osborne Repents Osborne Repents
Meanwhile on Labour’s Facebook Forum Meanwhile on Labour’s Facebook Forum
Heywood Breaching Cabinet Manual by Bypassing Ministers Heywood Breaching Cabinet Manual by Bypassing Ministers
Green NGOs Spend Taxpayers Millions Lobbying Government Green NGOs Spend Taxpayers Millions Lobbying Government
May Talks Down CETA Plus Option May Talks Down CETA Plus Option
Momentum Chair: “I’d Rather Have Solidarity With North Korea Than USA” Momentum Chair: “I’d Rather Have Solidarity With North Korea Than USA”
DEx-ODUS Continues DEx-ODUS Continues
WATCH: Lol-Ney Simply the Best WATCH: Lol-Ney Simply the Best
WATCH: Boris Meets Trump WATCH: Boris Meets Trump
EU Berets at LibDem Conference EU Berets at LibDem Conference
Cabinet Brexit Split: Where They Stand Cabinet Brexit Split: Where They Stand
Gardiner: Watson Not Up To Explaining Single Market Late at Night Gardiner: Watson Not Up To Explaining Single Market Late at Night
Loser LibDems Losing the Plot Loser LibDems Losing the Plot
Heil Duncan! Hitler Tash on Alan Heil Duncan! Hitler Tash on Alan
Boris Article Wasn’t Wrong About £350 Million Boris Article Wasn’t Wrong About £350 Million
Green: No, Boris Won’t Be Sacked Green: No, Boris Won’t Be Sacked
Rudd Refuses to Answer If She Wants to be Leader Rudd Refuses to Answer If She Wants to be Leader