Liberal Conspiracy have done someone fascinating polling. Bored by the continual claims that people blamed Labour for the crisis – based on surveys that simply ask people to choose between the political parties they blame – they did a poll that asked who people blamed and included others options including banks and trade unions. The
Read the Rest…

H M Revenue & Customs has, as many will be aware, announced a new penalty regime for offshore disclosures. As they say: These new penalties come into force from 6 April 2011 and apply to Income Tax and Capital Gains Tax. The legislation can be found in Schedule 10 of Finance Act 2010. The new
Read the Rest…

I have often argued that tax havens / secrecy jurisdictions have been subject tio regulatory capture. Wikipedia defines this as: regulatory capture occurs when a state regulatory agency created to act in the public interest instead advances the commercial or special interests that dominate the industry or sector it is charged with regulating. Regulatory capture
Read the Rest…

The FT has two stories telling a tale of importance this morning. Chris Huhne wants the Green Investment Bank for the UK to be a real bank. The Treasury oppose it – tooth and nail. The Treasury hope to privatise Royal Bank of Scotland next year despite its dismal record of support to the UK
Read the Rest…

I’ve just noted the dangers that occur when a majority are oppressed by an elite. Who will get angry? Well, note this from this morning’s Guardian, reporting the Institute for Fiscal Studies: Analysis from the Institute for Fiscal Studies today reveals that changes in April will drag 750,000 people into the 40% tax bracket. Meanwhile,
Read the Rest…

Davos has been and gone. As Larry Elliott and so many others have reported, in an event where the basic ticket price is $50,000 the sentiment of the bankers dominated and the message was clear – that they want the ‘banker bashing’ to stop. It wasn’t just Bob Diamond this time, although he was playing
Read the Rest…

William Keegan in the Observer reports comments by Denis Healy, the former Labour Chancellor, made last week. He apparently said: I feel sorry for George Osborne, despite his politics [pregnant pause] – and his personality. Healey has always been the master of the pithy, biting, phrase. He still is, it seems, at the age of
Read the Rest…

The Mail on Sunday seems to have got it in for tax havens – and those who operate there. And rightly so, of course. Last week they highlighted the number of subsidiaries UK based multinational corporations have in such places, using methodology I have used in the past. This week they’re back on the trail
Read the Rest…

There was a letter in the Saturday edition of the Jersey Evening Post from a person who, as far as I know I do not know, suggesting I’d make an ideal Chief Minister for Jersey. I guess for the sake of the peace of mind of Philip Ozouf, who clearly sees himself as a shoe-in
Read the Rest…