Big business is facing a permanent tax crackdown on abusive avoidance schemes under plans to be unveiled in Wednesday’s Budget. The giant bond fund PIMCO said Europe has not yet tamed its debt crisis and will soon face a 'second Greece' in Portugal as the country’s economy spirals downwards. Barclays has been forced to formally apologise to the FSA after evidence uncovered by The Telegraph revealed that the bank had demanded its clients withhold information from the regulator over the sale of 'swap' products. Whisky producers have warned that proposals to impose a minimum unit price on alcohol are likely to be challenged under European law. Facebook founder Mark Zuckerberg is facing a backlash from some of the world’s major pension funds over his plan to keep a controlling grip on the company after its multi-billion dollar flotation.
Budget 2012: Tax avoidance crackdown will target big business
PIMCO expects 'second Greece’ in Portugal
Barclays apologises to FSA over secrecy clause
Minimum alcohol price 'illegal'
Pension funds turn on Zuckerberg
Sunday, 18 March 2012
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Roger Bootle
Budget 2012: A classic tale of spending, tax and reform