Saturday, October 15, 2011

Glad Liam Fox Has Gone? Been Replaced By A Tax-Dodger ...

Ok, so 'Dr' Liam Fox has fallen on his sword, to be replaced in the Coalition Cabinet by ... Phillip Hammond. Let's take a closer look at him, shall we?

Actually, we don't need too, as Channel 4's 'Dispatches' have done so for us, exposing him as a tax-dodger :
"Mr Hammond acted last year to limit his exposure to the new 50p top rate of tax by moving shares in his family property business into the name of his wife, who pays tax at a lower rate. He did so after the 50p rate was announced but six months before it came into effect in April.
"[We] estimate that the move saves him more than £26,000 a year."
"[The programme] also says that Mr Hammond, who is worth £7 million, has ‘not received a penny’ from the firm, Castlemead, in salary, instead receiving cash in the form of share dividends – a tax-efficient measure used by the wealthy."
'Plus ├ža change', eh ? Still, it's very hard for PM Cameron to appoint anybody from his current cabinet who isn't a millionaire.

Read more here.