Private equity – wrath all round.

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I like this, published today:

It is no longer satisfactory that the affairs of some of our greatest companies - upon which the jobs and pensions of ordinary, hard-working people depend - should be decided by people in sharply-cut suits behind closed doors.

Such shameful secrecy flies in the face of the principles of open and free markets on which, for centuries, Britain's unique brand of capitalism has been based.

That comes from Alex Brumner, City editor of the Daily Mail and a robust right-winger. So the news that:

Gordon Brown has indicated for the first time that he is minded to impose a tax clampdown on private equity funds

should be welcomed by all. Not the Telegraph though, who say that this:

potentially risk[s] driving the multi-billion-pound industry offshore

On the ball as ever then at the Telegraph. That's where much of the industry is already located.

What is good news though is that a consensus has been created on this issue. Now it's time to act.