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27 September 2012: UK’s Liberal Democrats, steeped in money from the Septic Isle

Interesting stories have emerged in the past few days about Britain’s Liberal Democrats, the once self-styled party of business is now evidently the party of finance.

Let’s start with this extract from a speech by Lib-Dem Danny Alexander, Chief Secretary to the Treasury:

“Firms will be banned from getting public money if they are based in tax havens rather than mainland Britain.”  The telegraph

UK Business Secretary, Vince Cable, had a similar message for those who used secretive, low tax jurisdictions:

“No one keeps their cash in tax havens for the quality of investment advice; these are sunny places for shady people.”  The Guardian

But Deputy Prime Minister Nick Clegg defending the islands tax haven industry said:

“The financial services industry in the Channel Islands is a hugely important gateway for the wider financial sector and indeed the economy in the United Kingdom.”

Comment: Jersey is a feeder of vast gobs of global finance into the City of London and yes the Channel Islands tax havens are indeed hugely important to the City of London – but this is absolutely not the same thing as saying that this is a good thing.   BBCNews

Then there is this:

“Brompton Capital, is the biggest corporate backer of the Lib-Dem party, donating £777,000 since the General Election in 2010. . . . Shares in the firm are owned by an offshore firm called Integro Nominees (Jersey) Ltd, which is based in the Channel Island tax haven.”   The Daily Mail

And there’s more:

“Alpha Healthcare and its sister company C & C Alpha Group, part of a venture capital group in the private health sector, have together donated £970,000 to the Lib Dems since 2004. Alpha’s parent company, Harberry Investments, is based in a small office in Tortola in the British Virgin Islands.”  The Guardian

Comment:  Exposes the Lib-Dem party as a bunch of political charlatans unworthy of election to any office. Professing to detest tax haven tax avoidance but secretly benefiting from substantial financial support from the self same sources