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Salmond Gives Kpmg £1.7M To Establish A Tax Avoidance Centre In Glasgow

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http://www.ianfraser.org/?p=9383

Thursday, April 11th, 2013 | Posted by Ian Fraser

Salmond's £1.7 million bung to KPMG is a kick in the teeth for taxpayers

April 11th, 2013

Alex-Salmond-300x168.jpg

Yesterday, the government of first minister Alex Salmond gave a £1.7 million Regional Selective Assistance grant to the 'Big Four' accountancy firm KPMG to establish a tax avoidance centre in Glasgow. To me this is an astonishing waste of public money, a kick in the teeth to ordinary taxpayers, detrimental to the long-term health of the Scottish economy, and just a positively bizarre thing for Salmond, a former Royal Bank of Scotland economist, to do.

We really should not be giving any encouragement to 'Big Four' accountancy firms at the moment, given their pivotal role in fomenting the global financial crisis (thanks in part to the inadequacy of their auditing of banks and financial institutions from the late 1990s on), in draining governments around the world of resources (thanks to their hawking of both legal and illegal tax scams, etc), and their increasingly desperate post-crisis attempts to cover up fraudulence and other wrongdoing in the financial system. Why should we be subsidising KPMG to set up a tax centre whose employees, one assumes, will focus on trying to stay one step ahead of Her Majesty's Revenue & Customers by devising elaborate schemes to help multinational corporations and high-net-worth individuals avoid tax (or, if not that, then helping higher-paid colleagues to do that, by doing their box-ticking for them)?

Also, the global accountancy firm is hardly struggling at the moment — in 2012, it had global revenues of $23 billion (£15 billion) up 4.4 per cent on the previous year.

KPMG cannot be put in charge of the hen house, let alone HMRC and financial regulation
By Richard J Murphy
Published: Tax Research UK
Date: 11 April 2012
KPMG are one of the Big 4 firms of accountants. As such they have a lot to answer for.
. They
, and gave it a clean bill of health. They've
. This year in the Channel Islands
. The list goes on, and on.
But now a former
.
And another heads the new
http://www.guardian.co.uk/business/2013/apr/10/hbos-heat-on-city-regulator-fca' rel="external nofollow">
.
Both moved to these jobs without periods of contrition for past acts: they went because they were KPMG partners.
The reality is that this is putting the foxes in charge of the chicken coop. Worse, it's the clearest sign of the degradation of regulation, taxation and the concept of civil service in this country when the entirely reasonable suspicion must exist that these bodies are now being run by and for the benefit of those that they are now meant to regulate. It is simply not possible to turn from poacher to gamekeeper in the time allowed for these two appointees. And the fact that they want because of KPMG service proves it.
We will not restore faith in public service, regulation or tax in this country with KPMG in charge. It is not possible. They are the problem,. not the solution.
Both appointees need to go now.
But more importantly, radical rethinks of what regulation, civil service and governance means must take place.

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What's the big deal? £1.7 million is a drop in a huge bucket.

It was reported not long ago that Glasgow east topped the UK for benefits, at over £150 million.

London's sweetheart deals dwarf this. Canary Wharf get mega millions a year in breaks and incentives, and they house even more turkeys...I mean financial firms.

150+ jobs for Glasgow, a city that desperately needs anything job related.

Besides, the companies that KPMG audits don't pay much if any tax in the UK.

Headline should read: Big business gets tax break to set up shop in UK city. Yawn.

EDIT: any chance for Fraser to put his foot on the throat of the Yes campaign...

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You can see this blokes plan for Scotland....I personally think it's the same plan that's already failed in Iceland, Cyprus and. THE UK.

Actually, it is a plan that worked very well for Switzerland, Luxembourg, Monaco, Singapore, Hong Kong...shall I go on?

Although his timing is rubbish. Momentum is growing and some places are going to get burnt bad.

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Actually, it is a plan that worked very well for Switzerland, Luxembourg, Monaco, Singapore, Hong Kong...shall I go on?

Although his timing is rubbish. Momentum is growing and some places are going to get burnt bad.

Didn't work well for Ireland - the IFSC is where all the German banks went to avoid their domestic rules.

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Actually, it is a plan that worked very well for Switzerland, Luxembourg, Monaco, Singapore, Hong Kong...shall I go on?

Although his timing is rubbish. Momentum is growing and some places are going to get burnt bad.

Actually the plan is to sue England, demanding full control of all north sea oil, and the return of all north sea oil revenues EVER.

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Actually the plan is to sue England, demanding full control of all north sea oil, and the return of all north sea oil revenues EVER.

Or what?

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Actually the plan is to sue England, demanding full control of all north sea oil, and the return of all north sea oil revenues EVER.

We sue them for RBS, and HBOS. laugh.gif

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Um, not sure...but something.

They'll stand atop Hadrian's Wall, kilts aloft making an awful racket on the bagpipes till the rest of the UK caves in?

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Although the company itself is questionable, this is the type of thing that will ensure an independent Scotland's future.

Use what's left of the NS oil revenue to attract business to Scotland..... Braw! :D

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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