Forum Topic

The culture of the Tory party is, and always has been, to protect the rich. Many of its supporters protect their wealth by using tax-avoidance loopholes and tax havens to limit company tax liabilities. This amounts to many billions of pounds per year in the UK.If you look into the financial background of Brexiters such as Arron Banks, George Magan, the Barclay brothers, Lord Edmiston, Jacob Rees-Mogg, and Andrea Leadsom’s husband you begin to see what is at stake for them.In June 2016 the European Council adopted the EU Anti-Tax Avoidance Directive (EU 2016/1164), stipulating rules against tax avoidance practices. Members of the EU are required to apply the legally binding anti-abuse measures from 1 January 2019.  The directive seeks to create a limited amount of protection against corporate tax avoidance and to develop a fairer and more stable environment for business.The UK taxation system, with many tax havens, currently provides a lucrative playing field for individual and corporate tax evasion. The EU directive means that UK companies would have to pay billions of pounds in UK taxation that they had previously evaded.Brexit will mean that wealthy Tory supporters and others can continue with their deplorable schemes. The reason we have not heard much about this is probably that business interests have ensured that there is no media publicity on the issue. Perhaps the Daily Mail will publish a leader about this tomorrow and perhaps pigs will be seen flying (with very low decibels) over Brentford.

Jim Storrar ● 2604d