Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Courtesy The Times.
Tide turns in tax loopholes.The victory for HMRC to deny wealthy investors £ 117 million in tax relief has ushered in a new
era of intolerance towards tax avoidance by the rich.A film investment company was barred from claiming tax relief on a
complex £ One Billion deal.Cameron yesterday promised not to have dealings with businessmen who were guilty of
``agreesive tax avoidance`` ......two of Cameron`s top advisers have been investors in the company.....
Cameron digs deeper hole trying to define morally repugnant.Now ill-thoughtout interventions by the Prime Minister and the
Chancellor look set to cause more self inflicted wounds,as both men add a new layer of uncertainty to Britains already
overcompilcated tax code.
The problems began in the Budget,when the Chancellor announced that he regarded ``aggressive tax avoidance``as
``morally repugnant``.Mr Osborne was clearly hoping for political credit for siding against the shady activities of the super
rich who use tax havens and obscure corporate vehicles to minimise their contribution to the Treasury.
This is why the tax affairs of Cabinet ministers,treasurers,Tory advisers and the Cameron family are now under scrutiny.
Mr Cameron should realise the public`s attitude towards tax is more nuanced than he suggests.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
without doubt since the budget both cameron and osbourne have not come out of this well
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Head of Financial Services Authority slams Bankers for taking bonuses.
Hector Sants CEO of the FSA critised top Bankers for continuing to take their bonuses and said they should act with
`integrity`In his last speech he also said he was concerned about the way directors of large financial institutions are
selected.
He refused his £ 130,000 bonus for 2008/09 and gave this years £ 100,000 bonus to charity.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Sants has not exactly been a success in the job, far from it.
The point is, I speak as someone who is fully supportive of the regulatory changes the FSA are bringing in with their Retail Distribution Review (RDR) so I do not have an axe to grind against him. Apart from anything else I was broadly in line with the RDR changes from 2004, years before the FSA carried out their review!! Most IFAs will be much more damning of him than me.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
I think his broader message is the one worth listerning to
thank you reg for putting it in the thread
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Rupert and James Murdoch for obvious reasons but also for their arrogance and denials at the Leveson inquiry
Lord Leveson asked them both for their advice on how they would regulate the press...they both answered `the uestion was
above their pay grade....
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
this enquiry has a long way to run
and heads will roll
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Barclays Shareholders will today vote against Diamonds pay and bonuses package.
A third of investors are individuals who wish to control excessive pay packages but Institution block shareholders hold the majority share influence.
However Barclays will today apologies to shareholders for the banks handling of the £ 17 million pay package for Diamond.
Individual shareholders have limited influence against the Institution block vote.Another form of control is required.
When people unite they can change matters for the better,it would be a good idea for the shareholders to join the Unite
Union but they would be strange bed fellows.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
AstraZeneca CEO resigns as shareholders demand shake up.
Brennan leaves post hours before annual meeting.
Brennan could still walk away with £ 5 million after receiving £ 9 million pay packet last year.
company was the biggest faller in the FTSE 100 wiping off £ 2.2 Billion of their market value.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i saw that about the peasants revolt against bob diamond.
you have to admit that he ran the bank through the crisis without once dipping his hands into our pockets.
Just a gentle reminder that I was rubbished when I pointed out shareholder power on these very threads a short while ago.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
They did the same Bern when I said that the owners of the business, the shareholders, should have the say. Funny how certain people's tune changes when it suits them.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
doubt their display of revolutionary zeal will have any real effect on the payout for those at the top.
todays headlines, tomorrows chip paper.
So, we won't bother to vote, participate or take any action at all because it might not succeed?
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
BBC News...Diamond pay package of £ 20 million approved...QED.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
who would have thought that mr diamond would have got his own way?
other than the vast majority of the population of course.
If you want rules, you have to either work to change the rules, or play by them. I learned that when I was a union rep - use the rules that exist to get the best deal for your clients/members. If you don't it is your fault if you lose.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
oh dear bern
shoulds we realy allow this state of affairs to continue
its a scandal
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Ross Miller
- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,706
I do find it all a tad disingenuous
Fund Managers running pension funds (who are all on big chunky basics and significant performance related bonuses) complain about exec salaries and bonuses - really is a case of Mr Pot meet Mr Kettle & Mr Black
or
Maybe it is about manipulating the share price through the media feeding frenzy in order to enhance their own bonuses
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While loving someone deeply gives you courage" - Laozi
