More Brexit news from Tory backers
From Bloomberg today:https://www.bloomberg.com/news/articles/2020-09-25/u-k-s-richest-person-jim-ratcliffe-surfaces-as-monaco-resident"Jim Ratcliffe, the U.K.’s richest person, is now officially a Monaco resident."Other wealthy backers of the U.K.’s European Union exit have also shifted their fortune since the nation voted to leave the trading bloc in 2016. James Dyson relocated to Singapore, and Anthony Bamford, chairman of excavator maker JC Bamford Excavators Ltd., transferred shares in the firm’s Caribbean holding companies to Switzerland this year, altering arrangements that fostered his family’s fortune for decades."Yes, the richest Tory Party backers have all moved outside UK tax jurisdiction since Brexit (if they were not already outside, i.e. officially Non Doms). What do they know that we don't? Could it be that serious increases in taxation will be necessary to counter corporate tax shortfalls after Brexit? The damage from Covid will come on top to make things worse but the latter is likely to be temporary. They also don't believe the one about the UK becoming the new Singapore-on-Thames. Still, they're all right Jack. Do not expect this to receive a lot of attention in the Telegraph (owners are non-doms), the Mail (ditto), the Express (ditto) or the Times or the Sun (ditto).
Jonathan Callaway ● 1306d33 Comments