Eurobond Scandal: UK Government’s hypocrisy on Gatwick’s Tax Avoidance

Tuesday’s Evening Standard article (14th October) reported that Margaret Hodge, Head of the Public Accounts Committee, accused Gatwick bosses of ‘hypocrisy’ for aggressively avoiding paying tax on their huge profits while at the same time claiming to be building a new runway for the benefit of the UK economy. Here is an interesting letter by Michael Brookes to the editor of the Standard that widens the Eurobond scandal even further:

‘Great piece by Matthew Beard on the tax avoidance scheme in which Gatwick’s owners have invested. One further point: according to Gatwick’s annual report, the Government is one of the participants through its stake in RBS, one of the facilitating banks, making George Osborne’s rhetoric about the immorality of corporate tax avoidance sound totally hypocritical.

Ireland plans to terminate its special tax treatment for foreign corporations. Britain should insist that all wholly foreign-owned companies, such as Gatwick, that deny the Exchequer large sums should be given five years to regularise their affairs and close down the Eurobond scandal.’

The UK Government is actually helping Gatwick Airport avoid paying tax. What’s more, it’s planning to facilitate this foreign company’s business by spending loads of taxpayer’s money to do up Gatwick’s railway station and in the event of a second runway, pull down houses and ancient woodlands to build more roads for the airport at our expense!

 

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