"MAPELEY, the building services consortium backed by the financier George Soros, yesterday won a £2 billion contract to manage Inland Revenue and Customs & Excise properties including London's Somerset House."
Loyal readers of this site will doubtless be familiar with the name Mapeley (simply click on the label "Mapeley" below this article to see earlier articles).
On 1st September 2011 Accountancy Age reported the following:
"TAX REVENUE lost through the use of tax havens by Private Finance Initiative (PFI) investors means the scheme does not represent value for money, MPs have said today....
A report by the Commons' Public Accounts Committee found that many shareholders of PFI investment funds are registered offshore. It quoted one fund that had 72% of its shareholders abroad."
I find the above "revelation" about PFI investors by the CPAC to be somewhat "belated" and "underwhelming", given that this site has on more than one occasion noted that Mapeley (for one) is offshore. In fact, if you click the link in the previous sentence, you will see that CPAC noted that Mapeley was offshore in 2004.
Have our political masters been asleep at the wheel for the last decade, why now are they only waking up to what they themselves knew many years ago?
Tax does have to be taxing.
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The dogs in the street knew Mapeley was offshore; Private Eye covered it extensively at the time.
ReplyDeleteAgreed. What a bunch of bobble headed muppets. PE did not just cover it at the time, it has been regularly covered ever since. In fact you'd be hard pressed to be unaware; living on Mars maybe or playing ostrich or of course sitting up in Westminster. Can we have a dunces' corner (note the placement of the ')for the stupidest things out of an MPs mouth.
ReplyDeleteConnect the dots!
ReplyDeletethe answers lie in the PE report and one or two books that have been published since it happened.