That was a headline in the Telegraph today.
What seems like a poorly briefed Treasury Select Committee beat up the private equity industry yesterday - and the killer questions weren't even asked.
The simple fact is that the private equity industry cannot justify its low tax rates. They have to go.
And don't believe private equity will quit the UK as a result. there's money to be made here. I'm happy about that. I just want it taxed fairly, that's all.
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