McDonnell and Guardian’s Offshore Investments

John McDonnell is going on the attack over the Paradise Papers, insisting: “Where the Tories refuse to act, Labour will end the era of government turning a blind eye to the scandal of tax avoidance by clamping down on tax havens and ending the loopholes”. The main revelation from the leak so far is that the Queen’s private estate has money invested offshore. Not entirely unlike John McDonnell’s pension investments being managed in Guernsey… 

The Guardian’s story this morning targets those that have assets in 19 tax havens including the Cayman Islands. Which reminded Guido of Guardian Media Group’s GMG Hazel Acquisition 1 Limited, registered in the Caymans.

The Huffington Post splash this morning also leads on the Paradise Papers – no mention that HuffPo’s profits are blatantly transferred to Luxembourg. The owners of the Mail, News UK and The Telegraph also have various offshore tax-efficient structures. Facebook, Google and Guido are not UK-owned though they have at least never piously and hypocritically claimed to be in favour of clamping down on tax havens. Guido’s point is that the likes of the Guardian should practice what they preach…


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Peter Mandelson tells Emma Barnett…

“I think that Jeremy Corbyn himself should search his conscience and ask himself whether he’s the best person to lead the Labour Party into the general election with the best chance of success for the party.”

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