Wednesday, December 08, 2010

Why fruit and nut sticks in the throat

More on spontaneous protests in Britain against tax avoidance. From The London Standard

"There is, however, something obscene in the way multinational companies employ armies of accountants and lawyers to shift nominal assets around the world to avoid taxes paid by the rest of us. The latest offender is Cadburys, an iconic British company long associated with Quaker probity. It is being restructured so that Kraft, its new owner, can avoid millions in British taxes by switching ownership of UK assets to a Swiss holding company - enough to make a Fruit and Nut bar stick in the throat."

It may implode under the weight of hangers-on, the article says, but adds:
This is potentially revolutionary. It could reinvigorate political discourse.
Let's hope so.


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