Fred the Shred's home vandalised...shame!!

[cockles is back]

I can imagine the furore my Lord, you and MK would be moaning that it wasn't enough. And when bankers 'rake in' bonuses, they are at least gainfully employed, as opposed to foreigners on the take who are just gaining at our expense.

I understand that the pension payments received by The Shred are excessive and immoral, but to have the politicians who presided over this economic meltdown claiming the moral high ground rather sickens me. I'm sure Mr Brown will be on a nice earner when we finally get to kick his sorry *** out of government. By all rights, we should be allowed to use his pension to help pay off the multi-trillion pound deficit that he leaves us with.

why dont we just change thenames again, I am going with BUNS instead of Benefits and ELEPHANTS instead of bankers

 

[Mad Cyril]

Intersting snippet... 4000 bankers working in the city raked in £1bn of bonuses. You could imagine the furore if you swapped the words "bonus" with "benefit" and "bankers" with "immigrants".

I think this would be the final straw for Gordon Brown and the Labour party what with current economic problems and all.

 

[Lord Football]

Not all bankers are responsible for the current problems though. However, Im surprised there isn't a furore already with the amount of money the immigrants take in benefits on a regular basis without contributing anything to the country.
At least the bankers £1bn will be taxed and they will probably spend a large chunk of it in this Country.

Very well timed post Steveo, and I am sorry but I am going to appear pompous.

I agree, not all bankers are responsible. Those that make the decisions are. Are you aware that Barclays put an injunction on The Guardian to stop them publishing exactly HOW they make their profits. They make their profits by off shoring and not paying tax. But for the normal banker you and I would see in our local branch, I agree blameless and shouldn't detrimented against for the decisions of their better. (But note the job losses in RBS and HBOS recently as a result of those decisions).

Last night I was in Parliament (ooh hark) where I listened to a debate on Tax Havens. You will never be able to back up your "probably spend a large chunk of it in this Country" because places like the Cayman Islands, Jersey, Isle of Man, Switzerland (the list runs to 47 countries or dominions) do not release details of those that bank there. Because these accounts are not taxable, any thing paid in never goes into the public purse. Michael Meacher MP described as used by "the very rich, global companies, the mafia, criminals and money launderers".

The really galling thing is that Jersey, Isle of Man, British Virgins Island (the list is 13 or 14) are all British dependencies, yet for some reason our Government is unwilling to force them into a transparent banking system. They claim "they don't have the power", but when the Governemnt collapsed in the Turks and Cacos, the Government took over, proving they do have the power.

The point I am waffling on about is that the whole damn system is corrupt and no one seems to be willing to change it. The G20 meeting this week in London may take the first steps to do so, but expect the big global corporates to try and gag it.......

I can imagine the furore my Lord, you and MK would be moaning that it wasn't enough. And when bankers 'rake in' bonuses, they are at least gainfully employed, as opposed to foreigners on the take who are just gaining at our expense.

I understand that the pension payments received by The Shred are excessive and immoral, but to have the politicians who presided over this economic meltdown claiming the moral high ground rather sickens me. I'm sure Mr Brown will be on a nice earner when we finally get to kick his sorry *** out of government. By all rights, we should be allowed to use his pension to help pay off the multi-trillion pound deficit that he leaves us with.

I defy you Shackey to find a single post where I have said immigrants don't get enough benefits. I would hardly call selling the country down the river "gainfully employed".

Mr Blair got a nice £10m payout when he left office. A not so well known fact.

I think this would be the final straw for Gordon Brown and the Labour party what with current economic problems and all.

They are pretty much dead in the water anyway......

 

[Yorkshire Blue]

They make their profits by off shoring and not paying tax.

Not true. They do not make their profits by not paying tax, they make their profits through banking (which I'm sure you'll agree is a vital service).

 

[Lord Football]

Not true. They do not make their profits by not paying tax, they make their profits through banking (which I'm sure you'll agree is a vital service).

No, incorrect I am afraid. They do their deals via the Caymans (for example) and thus evade taxation. So here we have taxpayers money being used to bail out companies who do not pay tax. Mad innit?

This is the blog of Richard Murphy, who is currently acting as an Advisor to Number 10 who is probably the UK expert on Tax Evasion and Tax Havens. It does cover the Barclays whistleblower case.

http://www.taxresearch.org.uk/Blog/

The last entry for 25th March was made when I were present (ooh hark) and covers a lot of what I posted earlier. Point 3 of his 7 point plan covers the lack of a banking code that will stop the sort of thing Barclays are doing.

 

[BrettieAngell]

**** the system!!

 

[Benji91]

No, incorrect I am afraid. They do their deals via the Caymans (for example) and thus evade taxation. So here we have taxpayers money being used to bail out companies who do not pay tax. Mad innit?

Weird - you'd have thought somebody in charge of collecting taxes would have noticed a large company like Barclays not paying any tax at all.

Oh - and for whats its worth, Barclays havent actually taken any taxpayers money...

 

[Yorkshire Blue]

No, incorrect I am afraid. They do their deals via the Caymans (for example) and thus evade taxation. So here we have taxpayers money being used to bail out companies who do not pay tax. Mad innit?

This is the blog of Richard Murphy, who is currently acting as an Advisor to Number 10 who is probably the UK expert on Tax Evasion and Tax Havens. It does cover the Barclays whistleblower case.

http://www.taxresearch.org.uk/Blog/

The last entry for 25th March was made when I were present (ooh hark) and covers a lot of what I posted earlier. Point 3 of his 7 point plan covers the lack of a banking code that will stop the sort of thing Barclays are doing.

I'm not denying that they use structures for tax avoidance and possibly even tax evasion, I'm telling you that their profits are not made by off-shoring and not paying tax. They protect their profits through off-shoring and limiting their tax liabilities, but that is different from saying their profits come from not paying tax.

Does that blog talk about their VAT status?

 

[Lord Football]

Weird - you'd have thought somebody in charge of collecting taxes would have noticed a large company like Barclays not paying any tax at all.

Oh - and for whats its worth, Barclays havent actually taken any taxpayers money...

Ha, ha, i am not in charge of collecting taxes.

Did you know that HMRC sold their buildings to a company called Mapeley. Mapeley bank via Bermuda. A tax haven!!

I'm not denying that they use structures for tax avoidance and possibly even tax evasion, I'm telling you that their profits are not made by off-shoring and not paying tax. They protect their profits through off-shoring and limiting their tax liabilities, but that is different from saying their profits come from not paying tax.

Does that blog talk about their VAT status?

No, not all their profits, but as you say, they protect their profits by using a tax haven. If they didn't, the public purse would be somewhat better off.

Tescos, there's another one worth a look.....

 

[Benji91]

IM not an expert, maybe someone is on how the Pension funds run. It was my understanding that the more money the companies made for their shareholders, it made more money for the funds linked to these companies and provided better returns... therefore meaning everyones pension is a little more come retirement. I could be wrong though.

Also, and im not as up to speed as i should be, what are the rules for the money that the taxpayer is making?? Aren't any funds given to the bank charged an amount of interest with the purpose being that its paid back eventually and used for what it was originally intended for, like underpaying Nurses, teachers and digging up roads for no reason?

 

[Yorkshire Blue]

Tescos, there's another one worth a look.....

I'd suggest we don't discuss it on here, as I don't think even MtS' pockets (or does he get the butler to carry his wallet for him?) are deep enough.....

If you want another example of a company structured off-shore for tax purposes, I think we could move this into Shrimpers Chat.

 

[Rusty Shackleford]

If you want another example of a company structured off-shore for tax purposes, I think we could move this into Shrimpers Chat.

It's not Shrimpers Online is it? I knew it!

 

[Thorpe Groyney]

Since when did this Government give a rat's bollock about public opinion?

On or around May 1997, 2001 and 2005. They won't give a monkey's next year, though, because it's an election none of the parties want to win but that's for another thread.

 

[Desert Shrimper]

It's not Shrimpers Online is it? I knew it!

It turns out that was all a front for drugs and prostitution and the message board was mere code.

 

[Benfleet A1]

It turns out that was all a front for drugs and prostitution and the message board was mere code.

Which reminds me,

The geese fly south for winter wearing red carnations and carrying a copy of The Times under the left wing.