Friday, 5 June 2009

Taxing issue

http://www.socialistparty.org.uk/keyword/Labour_Party/article/7314

THE DAILY Telegraph, which is rumoured to have paid £150,000 for a copy of the leaked MPs' expenses dossier, said in its editorial (15/5/09) that there is an overwhelming case for HM Revenue and Customs to "subject MPs' claims with the same rigorous examination that they extend to everyone else's tax affairs". Hear, hear!

However, you cannot help but think that there's more than a little cant (hypocrisy) being expressed by the Telegraph as its current owners - the Barclay brothers, Sir David and Sir Frederick - are in fact 'tax exiles'. These 'non-doms', who list their home address as Monaco, also happen to own the channel island of Brecqhou.

In December 2008 the Barclays stood candidates for election to the neighbouring island of Sark's parliament. Much to the brothers' disgust, 90% of the island's tiny electorate voted against their candidates. Feeling miffed the Barclays immediately upped and left taking their £5 million a year investment with them, closing down their shops and building work on their properties, and leaving many workers redundant!

====================


Barclay brothers may bid for Mirror titles

By Michael Harrison 

Wednesday, 27 January 1999

THE BARCLAY brothers, the owners of the Scotsman and Sunday Business, are considering a bid for the Mirror Group's national newspaper titles following the departure yesterday of David Montgomery as chief executive.

Mirror Group shares rose as Mr Montgomery's removal heightened expectations of an auction for the company, which could result in it being broken up. He has been replaced as chief executive by John Allwood, formerly chief executive of Mirror group's regional titles and Scottish interests.

The secretive and super-rich Barclay twins, David and Frederick, are thought to be interested only in the Mirror, Sunday Mirror and People titles. They would almost certainly be prevented anyway from buying Mirror Group's Scottish titles, the Daily Record and Sunday Mail, because of their ownership of the Scotsman and Scotland on Sunday.

Trinity, the regional newspaper group which broke off renewed merger talks with Mirror Group two weeks ago, said it was watching events as they unfold. A spokesman added that it was now time to "let the dust settle" and allow Mirror Group shareholders to decide what they wanted to do.

Trinity had proposed an all-share merger valuing Mirror Group shares at 165p. This offer was subsequently trumped by a 200p-a-share cash offer from Regional Independent Media, backed by the venture capitalists Candover, valuing Mirror Group at pounds 913m.

The RIM offer was rejected by the Mirror board, although it said it was prepared to enter further discussions with the group, which is chaired by Sir Norman Fowler, the former Conservative Party chairman.

A takeover by either Trinity or RIM, publisher of the Yorkshire Post, could play into the hands of the Barclays since the two regional newspaper groups are thought to be interested primarily in the Mirror Group's regional titles, which include the Birmingham Post.

However, the Barclays could face competition from the German publishing group Axel Springer, whose stable includes the German tabloid daily Bild.

Springer, which is led by the former News International executive Gus Fischer, made an approach worth 240p a share last summer but those talks also broke down.

Another possible bidder is Hearst Corporation, the US magazine company, which has financial backing from the venture capital group Compass Partners. It had made contact with Mr Montgomery but made no formal offer.

Meanwhile Mr Allwood stressed yesterday that he was not in any hurry to sell the company. He said that it was now time for a "period of reflection" while he assessed the strategy of the group. The new chief executive has pledged to report back to shareholders when the Mirror Group reports its full-year results in March.

Mr Allwood stressed yesterday that the group possessed good brands with rising circulations that amounted to a strong business going forward.

After the high drama of the last fortnight, Mr Montgomery's departure was a subdued affair. There was no boardroom vote and it took the Mirror board just 15 minutes to agree compensation terms and accept his resignation.

He will receive a severance package worth more than pounds 1m, including share option entitlements.

=================

Re: No, it doesn't work like that
by Larkers 
05/27/2009, 10:33 AM #
Reply
The issues are being confused. Some MP's have claimed for what they believed was allowed under the rules; however, it is one thing to feel your duck house (a floating island for one's duck's dontcha know, what?) but who decided it would be in order to pay such a claim? Others have far trickier 'errors' to explain, including claim mortgage relief (a tax allowance) on a mortgage they do not in fact, have. It can hardly be a mistake. To misquote a famous Labour figure of my youth Aneurin Bevan, " anyone capable of thinking that is too stupid to be an M.P." Behind these allegations lies another story, one of Press ownership and the politico-media elite who run the country now the toffs ('Gosford Park') have passed into history. The Daily Telegraph is owned by the secretive Barclay Brothers, of whom many in the politico-media camp are terrified. They have enormous wealth and can use Britain's scandalous libel laws to hide behind. (I could not get this comment published in the U.K.) The Brothers live on an island in the English Channel guarded by ex-SAS, SBS, people. They do not give interviews and are rarely photographed. Facts widely known within the politico-media elite's 'world' are occasionally manipulated for effect when the time is right. M.P. 'X' is widely known to be having a same sex affair; television presenter 'Y's' child is on drugs, and so on. This confers power, added to which there is the continuing abuse of the 'Lobby system' whereby selected journalists are leaked to in 'off the record' briefings. The major newspapers involved are all happy to acquiesce in this corrupt relationship. The power conferred can be used to embarrass or scuttle someone's chances. Every so often the time is ripe and one of these unfortunates can be served up as a sacrifice. The Barclays have no allegiance except to themselves and have clearly timed this 'exposé' to cause the major parties the greatest discomfort before important European Parliament elections and, especially, enhance the prospects of the U.K. Independence Party, a tiny grouping which wants to exit the E.U. and whom many see as the chief beneficiary of these 'revelations. It is the case that public money has been paid to Parliamentarians for fripperies and some claims were, evenso, outside these generous terms. Compared to what happens elsewhere (the E.U. itself for example) the sums are trivial. The Italian's are laughing themselves silly, if they bothered to pay attention. Speaker of the Commons Michael Martin's exit was merely on the pretext; he had long ago lost support and this scandal gave his enemies their chance. Now comes the bandwagon and all sorts of lightweights are rushing to join the reform of Parliament movement. It matters not a jot that more than 90 per cent of the M.P.'s have stuck to the rules. Soon, if these people get their way we well have to stomach fascists and rascals ranting on in the 'Mother of Parliament's' and all because some damned fool wanted a floating pagoda for his duck pond.
So you don't read Private Eye?
by steelbucket 
05/27/2009, 11:07 AM #
Reply

Yes the Barclay Bros do seem to think that they have the right to act as feudal lords of the manor and the media in general is displaying a breath taking amout of hypocrisy (nothing new there then)but it doesn't change the fact that our supposed honourable members of parliament have been behaving dishonourably.

The fact that other governments may be deeper in the shit doesn't make ours smell any sweeter.

=================


Posted by Britannia Radio at 15:14