Tory Gaffe # 1: Sajid Javid closing tax loopholes….after he made his pile

javidhumbug“Hmmm…that’s a yummy humbug”

I’ve posted three times before about the cloud-shaded past of Sajid Javid. I’ve also posted about Triumpant Tory Hubris Syndrome. A week ago today The Slog wrote:

‘it is an uncanny irony of history that, just when people, organisations and regimes seem to be at the height of their power, a dramatic fall from grace ensues. One thinks of Manchester United after 1968, Nixon after 1972, Thatcher in 1990, the banks after 2008, and the European Union now.’

You have to hand it to Cameron: his choice of colleagues is 100% consistent: Baron Green, Andy Coulson, Rebekah Brooks et al ad nauseam. In 2012 – having said two weeks earlier he did not wanted tax dodgers in his circle – he promoted Jeremy Hunt to be Health Secretary….who it then transpired had dodged tax by changing the definition of his work premises. A year later, Hunt grinned broadly as a takeover bid looked set to make him a multimillionaire. But the overtakers pulled out somewhat abruptly having read the books. What could this all mean, we wondered. We’re still asking.

Now within days of being appointed Funny Business Secretary, Sajid Javid faces an unwelcome reminder of his past as a highly paid investment banker. For later this year, an HMRC case involving offshore tax avoidance schemes (from which Javid benefitted massively) comes to court. First time around, the Deutsche scam was successfully challenged by HMRC at various tribunals.

Javid was a senior player at Deutsche Bank in 2003 (well there’s a nice steady, above-board bank) when it trumped up the bogus scheme to cut tax on bonus payments. But Rajid ‘Hypocrite’ Javid – when appointed as a Treasury minister in 2010 – sanctimoniously declared that the government would “close down all avenues for tax avoidance whether it is companies or individuals”.

So then, “Once I’m inside the Rich List Club, I shall be firmly locking the door behind me.”

Humbug anyone?

Yesterday at The Slog: Time for Labour to focus on majority injustices

11 thoughts on “Tory Gaffe # 1: Sajid Javid closing tax loopholes….after he made his pile

  1. We know the way this government thinks. We’ve had 5 years already.
    As the people have voted them back in due to a ragged lack of competition, let’s wait five more years and then the jury can pronounce the verdict. Any consequences for under performance will be historical in their magnitude.

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  2. sanctimoniously declared that the government would “close down all avenues for tax avoidance whether it is companies or individuals”.
    Ah but, as you always say JW, watch what they do, not what they say.

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  3. But once again you are presenting it as a tory problem. It was equally rife in the last labour governments and continues to be rife in sections of the civil service and particularly the NHS where the use of “consultants” and executives with “service companies” is a national scandal. But equally you have to say why wouldn’t they if they can do so legally ? Politicians and many commentators love to say that tax avoidance is immoral but what is really immoral is a government’s habit of taking tax payer’s hard earned money and then wasting it in mind boggling amounts. That is both immoral & criminal but you’ll never see a civil servant going to jail or even losing their pension.

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  4. I don’t think it is about Cameron’s actions or he would probably already be out of office. It is about whether he maintains backing of the establishment-directed media. If he does what he is told successfully, they will just keep lying to the unsuspecting voters and telling them to vote Tory, which they dutifully will.
    Thatcher was kicked out not because of her record or electoral chances but because she started asking too many questions about the EU. As long as Cameron engineers a referendum win, which I’m sure he will, he will have nothing to fear from the puppetmasters.
    A key test will be whether the establishment go down the stooge or no-hoper route with the next Labour leader.

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  5. I don’t for one minute believe that Sajid Javid wants to close any serious tax loopholes he merely intents to move them about a little bit. Close a bit here and oops another one has mysteriously opened up over there. Our horrendously over complicated tax code and very convenient left over Crown dependencies from the days of empire are perfect for this kind of enterprise. If your a member of the very exclusive club you can stash your cash no questions asked. Tax is for losers.

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  6. Good for you. Sounds as though you are indeed a principled guy.

    Have to say I believe in mutuality – and even more now than ever, but I did benefit from the great plague of building society conversions. Guess I am a little like Groucho Marx – I got principles but I can change them (when necessary).

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