In a barely discussed story, British taxpayers are being held up by their ankles and shaken down by corporations with big enough pockets to exploit some obscure legal loopholes over taxation.
Just as Philip Green’s pilfering of pension funds was not illegal, the ‘tax grab’ by these corporations is ‘within’ the law and an example of what big money can do when it throws its weight against a system that is not robust enough to stand up to them.
It is these same corporations that the Tories are chumming up to in their manifesto:, promising to reduce corporation tax to the lowest in the top 20 economies:Jeremy Corbyn has already pledged he will reverse Tory plans:
The issues surrounding the cases over the taxes that corporations are suing British taxpayers for are certainly mind boggling (gross understatement), and I do not profess to begin to understand the complexities being argued. There is the law, the spirit of the law and how the law can be exploited if you are smart/motivated/financed enough. The behaviour of these corporations, and whether we are consumers of their services or products, should be publicly known so that we can judge how comfortable we are in buying their products or services. I do not blame the Tories for the behaviour of the corporations exploiting tax law but what I do disagree with is rewarding these corporations with massive tax cuts, at the expense of our public services.
The big questions I would have to ask are, of those corporations who are suing British taxpayers, how many are donors to the Tory party? How many of these corporations does the hedge fund that Theresa May’s husband works for have investments in?