Comrade Corbyn’s Tax Hypocrisy – Part II
The Paradise Papers have been a treasure trove of useful information and a source of massive political embarrassment for the Labour Party. Following on from the revelations highlighted by Nigel Farage on his LBC radio show more has come to light.
Two Labour-run Councils, Warrington and Sefton, have avoided more than £12million in stamp duty by putting cash into tax haven firms.
Sefton on Merseyside bought a shopping center in Bootle through a Luxembourg-registered company for £32.5million. Meanwhile, Warrington in Cheshire saved more than £10million by buying a £200million business park in the county via an offshore company. You’d think, having been caught with their metaphorical trousers around their ankles, the councils involved would be somewhat embarrassed. However, you’d be wrong, with a brass-neck that will take some beating, Sefton tried to shift the blame onto the government:
We paid all the tax due. The council bought the company that owned the asset as this was the corporate structure that was marketed for sale.
We acquired the shopping centre primarily to deliver a new revenue stream to help pay for vital services that have been reduced as a result of Government cuts.
Warrington tried a bit less brazen route, saying they needed to dodge the tax in order to complete the transaction in a “timely manner”.
The Labour hierarchy simply won’t be outdone though. Red in tooth and claw, full-time Marxist class-warrior and part-time Shadow Chancellor, John McDonnell is sitting pretty on a pension fund “drawn from a fund managed by a Guernsey-based firm.”
We can only wonder what further revelations the next few days will bring……