A company with 500 directors... A company with 500 directors...
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  1. #1

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    Default A company with 500 directors...

    Imagine having a board meeting in one of those?

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    "One of the Tories' biggest donors was signed up to a tax avoidance scheme that also included comedian Jimmy Carr, the Observer has established.

    The revelation is intensely embarrassing for David Cameron, who attacked the comic's use of such schemes as "morally wrong".

    Records at Companies House reveal that George Robinson, a hedge fund manager who has given the Tories more than £250,000, was – in the 12 months leading up until 21 January 2010 – a director of a company called Romangate. The Times reported last week that Romangate, which had more than 500 directors, including Carr and Robinson, was part of a tax avoidance strategy called Rushmore. The scheme was closed down in 2009, before its members could claim any tax relief, following an investigation by HMRC.

    The scheme was thought to be legitimate when it was set up. However, the then treasury secretary, Stephen Timms, told parliament that the strategy was a "highly abusive, completely contrived arrangement" that "was set up with the sole aim of avoiding paying the tax due to the Exchequer".

    Robinson, who has an estimated wealth of £215m and whose Sloane Robinson hedge fund earns millions for its members, has donated money to a number of good causes. There is no suggestion that he benefited from being a director of Romangate because the company was closed down before any tax relief could be claimed."

    Source: Top Tory donor linked to Jimmy Carr tax scheme | Business | The Observer

    500 directors!!!

  2. #2

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    Cameron has shot himself in the foot with his high moral outburst over this.

    I don't care about Cameron, but I do care that he'll lose a General Election and we'll get the socialists back "in charge".

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    Quote Originally Posted by Doggy Styles View Post
    I don't care about Cameron, but I do care that he'll lose a General Election and we'll get the socialists back "in charge".
    Labour will have more or less same policies - should have voted for them last time around

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    Quote Originally Posted by Doggy Styles View Post
    Cameron has shot himself in the foot with his high moral outburst over this.

    I don't care about Cameron, but I do care that he'll lose a General Election and we'll get the socialists back "in charge".
    They are still in charge, I have always been a tory voter. What we have now is not conservatives. Its the exact fauxdemocracy we had under labour. This country is finished.

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    Quote Originally Posted by Doggy Styles View Post
    Cameron has shot himself in the foot with his high moral outburst over this.

    I don't care about Cameron, but I do care that he'll lose a General Election and we'll get the socialists back "in charge".

    WDSS.

    I think Cameron is ok but it is "win at any costs" when labour are about and we all knew the dissection of Tory supporters banking details were going to happen when he opened his trap.

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    No Prime Minister who realies on tax cheats to win election will last long...

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    Quote Originally Posted by escapeUK View Post
    They are still in charge, I have always been a tory voter. What we have now is not conservatives. Its the exact fauxdemocracy we had under labour. This country is finished.
    Funnily enough I see a country with three Tory parties. Whoever is in power, the rich and powerful end up even more so in comparison to the ordinary person.
    Quote Originally Posted by Bean
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    Quote Originally Posted by AtW View Post
    Labour will have more or less same policies - should have voted for them last time around
    Except that the socialists raised costs, the tories are cutting them.

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    Quote Originally Posted by Doggy Styles View Post
    Except that the socialists raised costs, the tories are cutting them.
    Tories continue main "victimless" cost cutting that was stated under Liebor - money printing to keep Govts yields low so it can save on what it pays investors into its debt.

    If it wasn't for money printing Govt would have to pay 7%+ yields.

    Other "cost cutting" is futuristic and mostly on paper, ie - limiting growth of public salaries by using different calculation of inflation.

    So instead of cutting actual expenditure 2 years ago they hope that inflation and slower pay raises in public sector will help private sector to have higher GDP sometime in the future.

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    Quote Originally Posted by AtW View Post
    Tories continue main "victimless" cost cutting that was stated under Liebor - money printing to keep Govts yields low so it can save on what it pays investors into its debt.

    If it wasn't for money printing Govt would have to pay 7%+ yields.

    Other "cost cutting" is futuristic and mostly on paper, ie - limiting growth of public salaries by using different calculation of inflation.

    So instead of cutting actual expenditure 2 years ago they hope that inflation and slower pay raises in public sector will help private sector to have higher GDP sometime in the future.
    AtW you haven't got a clue how to cut our national deficit, so I wouldn't be too hasty criticizing those who have actually had that tulip dropped into their in-basket.

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