Tip Of An Iceberg

Offshore devices are used by owners of some of the ‘reformed’ public services. The excessive PFIs which out of power Ms Margaret Hodge noted on the PAC. It’s hard to accept Labour were merely incompetent rubes in this.

I recall Thames Water £500 Mn Operating on revenues of £1.5Bn paying no tax as all owed to pay Bermudan held loans. All seemingly with all party support for such ‘reform’. It assumes colossal levels of incompetence to think many MPs, Labour and Conservative, do not benefit. These companies are so holed indeed that they need Govt to take the risk premium! It’s no more free market Capitalism than Stalinism.

The issue is far bigger than a few tax dodgers it speaks to the whole project some call neo Liberalism.  How soon before many newly minted academy schools lease their land and pay ‘rent’ from an empty balance sheet abroad?

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Tip Of An Iceberg

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