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Labour’S Mystery £600K Donor Martin Taylor Revealed As Mayfair Hedge Funder

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What was that Ed Miliband said about the tories being the party of hedgefunders?..

. :rolleyes:

Labour’s mystery £600,000 donor named Martin Taylor has been revealed as a Mayfair hedge fund manager after pressure was brought on him and Ed Miliband following publication of a Bureau investigation earlier this week.

He confirmed his identity tonight, three days after the Bureau published an article highlighting concerns over potential hypocrisy on the part of Labour which had been unable or unwilling to give any details about his background.

The Bureau can reveal that Labour’s third largest individual cash donor since the last election helps run Nevsky Capital, a hedge fund based near Bond Street in Mayfair, west London.

It has previously held significant stakes in controversial Russian energy companies Gazprom and Lukoil. And according to its latest filings with the Securities and Exchange Commission in the US, it held $15m of shares in United Health at the end of last year.

United Health, a huge US health insurance firm worth £76bn, is one of several companies currently bidding for a £1.2bn NHS contract for end of life care.

The stakes are under the control of Nevsky Capital and not Martin Taylor himself. There is no suggestion of any inappropriate action by either Mr Taylor or Nevsky Capital. [more at link]

http://www.thebureauinvestigates.com/2015/03/20/labours-mystery-600k-donor-martin-taylor-revealed-as-mayfair-hedge-funder/

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Refreshing to see a hedge fund manager supporting and advocating higher taxes on the wealthy and a mansion tax and backing it with his personal money.

good on him!

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Refreshing to see a hedge fund manager supporting and advocating higher taxes on the wealthy and a mansion tax and backing it with his personal money.

Don't worry, he'll have hedged his position.

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I wonder if he's a direct beneficiary of Miliband & Flint's great gift to hedge funds?

Some initial Competition and Markets Authority data on our poor energy firms, shareholders and supplies:

https://assets.digital.cabinet-office.gov.uk/media/55070c2040f0b613e6000015/Profitability_of_retail_energy_supply.pdf

"...for the Six Large Energy Firms combined, total domestic supply EBIT increased by more than ten times over the relevant period from £0.1 billion in FY07 to £1.1 billion in FY13, primarily driven by higher EBIT in domestic gas supply, which increased from an EBIT loss of –£0.4 billion in FY07 to £0.6 billion in FY13.

...annual EBIT per customer – an average single fuel bill generated an EBIT for the Six Large Energy Firms (on a combined basis) of £2.31 in FY07, which increased by more than ten times to £23.71 by FY13...regarding EBIT per customer account – the annual EBIT generated by the Six Large Energy Firms on a dual fuel customer increased significantly over the relevant period from £1.32 in FY07 to £48.16 in FY13, driven entirely by the increase in the EBIT generated on domestic gas. The EBIT generated on domestic electricity in FY13 remained broadly in line with FY07 levels."

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