Wealthy Britons have stashed about £300bn in offshore tax havens…

That’s the equivalent of £350m being paid into the NHS every week for the next 16 years.

STICK THAT ON THE SIDE OF A BLOODY BUS.

a!£

Embarrassingly for the government, the head of NHS England has told the government that they must honour that pledge. The head of NHS Scotland, NHS Wales and NHS Northern Ireland should join him.

When you fail to get a job that you have interviewed for, you have nothing left to prove. When you lose an election you can sit in opposition and carp. When you lose a referendum, you can criticise all you want.

The trouble only really comes when you get the job, win the election or the referendum.

Then you have to put your money where your mouth was.

That’s something that on just about every single issue, the Brexiteers have failed dismally to do, just as the British government failed to do when it won the Scottish referendum.

18 thoughts on “Wealthy Britons have stashed about £300bn in offshore tax havens…”

  1. Is that £300 billion each? It seems an awful low total for 37 years of tax avoidance since Thatcher allowed cash to leave the country. I think I know one individual who has £6 billion personally safely offshore, although it should be earning more and more every day.

    Liked by 1 person

  2. Money juggling. Apparently most nations [not Norway] own huge amounts to… someone. Who is this someone? Can he be taxed if he lives here? Or there?

    Liked by 1 person

  3. When it was sold to us it was imaginatively called trickle-down economics. It was never going to trickle down though was it? No, it quickly and quietly morphed into trickle-offshore economics.

    Liked by 1 person

    1. I can see the theory of “trickle down” and why people bought into it.

      You only have to look at the poverty in places like London, apparently one of the richest cities in the world, to see that, at least in our society, that just doesn’t work.

      Like

  4. Your question ( Who is this someone?) brought to mind an article by Alex Andreou which I read on his blog YEARS ago.
    The blog has long since stopped and I couldn’t find the article…but with the power of search engines…the article itself remains.
    One such version is here:

    https://labourlist.org/2011/04/to-whom-do-we-owe-this-money-exactly

    Basically, the Government actually owe this money to us.
    It works this way:
    When you go out to work, you earn money. If you don’t spend all of it, you save it, put it away for a rainy day or stick it in a pension pot.
    The Government borrow this money from your bank or pension scheme ( giving them bonds or gilts or some such in return, with a promise to pay it back later).
    So you see Government debt is actually money that you have already done the work for and have been paid for ( but haven’t spent straight away).
    The really cheeky part is though, that having borrowed money from YOU, money that you’ve already worked for and earned, THEY expect YOU to pay it back to THEM in the form of higher taxes.

    When it comes to economics though, I just love this quote:
    “That’s a large part of what economics is – people arbitrarily, or as a matter of taste, assigning numerical values to non-numerical things. And then pretending that they haven’t just made the numbers up, which they have. Economics is like astrology in that sense, except that economics serves to justify the current power structure, and so it has a lot of fervent believers among the powerful.”
    ― Kim Stanley Robinson, Red Mars

    Liked by 1 person

    1. Thanks, Jake. Loved and miss Sturdy Blog. But I still follow Alex on Twitter.

      I only had time to glance at the article as I’ve got an appointment to get to (I’ll read it in detail later). But yes, the largest amount of the government’s debt is to … us.

      I imagine China, Japan, Saudi and Norway own a great of the foreign element.

      Like

    1. Why is it though, Marcia, that they need to be far richer than they ever need to be?

      What is it that makes them want more and more and more and more, even though if they started spending at 8 am, and never stopped for lunch 366 days a year they couldn’t possibly spend it?

      I see that as some sort of psychological problem.

      Especially when around a third of kids are living in poverty, and children are raking bins for food.

      How could someone have all that money, knowing that not far away, just down the road, there were people starving and cold?

      Like

      1. Because, Tris, they just don’t care about anyone other than themselves and they’re not the swashbuckling masters of capital they see themselves as, they’re parasites battening on the lives of others. The only small consolation I take is that for all their wealth, they are truly worthless and at the end will draw the same six feet of dirt as the rest of us.

        Liked by 2 people

  5. The compulsion to accumulate wealth at the expense of everyone else is one of humanities less agreeable traits. I think this article although far from definitive, makes a lot of sense

    https://www.psychologytoday.com/blog/evolution-the-self/201210/greed-the-ultimate-addiction

    If there is truth in the article then like any addiction it needs to be controlled because unfettered, it’s wreaking havoc on people’s lives and the environment.

    Liked by 1 person

  6. Well,when Her Maj,Her government and institutions create a mechanism where the wealthy no longer need to pay tax,then we have to ask what is the point?
    A system which says basically,I have created my wealth,all on my own and why should I have to pay for your health care?
    The feudalistic nature of the British state has now been exposed as having never really been reformed and designed to maintain the rule by an elite over a compliant population.
    However,we rebellious Scots have never accepted this very English view of life and the time is coming when we will reject their propaganda and imposed culture.

    Liked by 1 person

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