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

John McDonnell tells the Gallery/Lobby lunch what the priest told him to do…

‘He persuaded me to do this. He said you need to soften your image. So do Mumsnet and do this…. I’m trying to soften my image.’

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.