Myners - The Irony

I am amused to see that Lord Myners, in an earlier life, had no qualms about helping to set up Aspen Insurance Holdings in Bermuda. Aspen being an offshore company (of which he became part time chairman) that, owing to its structure, avoided over £100M a year in tax.

His five year term as chairman of both the UK and Bermuda arms of Aspen ended in May 2007, he then became a minister in October 2008.

As we all know, tax avoidance is perfectly legal.

Isn't it therefore ironic that Myners is now the minister charged with clamping down on tax avoidance and tax havens?

Tax does have to be taxing.

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