To us, it's an obscure shift of tax law. To the City, it's the heist of the century
In David Cameron we have a leader whose job is to quietly legitimise a semi-criminal, money-laundering economy
'I would love to see tax reductions," David Cameron told the Sunday Telegraph at the weekend, "but when you're borrowing 11% of your GDP, it's not possible to make significant net tax cuts. It just isn't." Oh no? Then how come he's planning the biggest and crudest corporate tax cut in living memory?
If you've heard nothing of it, you're in good company. The obscure adjustments the government is planning to the tax acts of 1988 and 2009 have been missed by almost everyone ? and are, anyway, almost impossible to understand without expert help. But as soon as you grasp the implications, you realise that a kind of corporate coup d'etat is taking place.
The Guardian, "To us, it's an obscure shift of tax law. To the City, it's the heist of the century", 7 February 2011.
"The Insider" mailing list article, 08 February 2011.