Friday, November 12, 2010

Does the UK Conservative Party know to whom they are paying rent?

From the Land Matters blog (hat tip: Chris Jordan, ActionAid)
Amidst all the press coverage of the student demonstration in London on Wednesday, one small question was niggling me as I watched the windows being smashed in Millbank Tower. Whose windows? Who owns Millbank Tower?
And the answer?

A 2 minute search of the Land Registry turned up Title Number NGL886677 together with a plan which reveals that the 21-24 Millbank and 25 and 30 Millbank are owned by Basio Holdings Ltd. of 1 Palm Chambers No. 3, PO Box 3152, Road Town, Tortola, British Virgin Islands.

So the Conservative Party (who rent offices in No. 30) are paying rent to a company in the British Virgin Islands. I hope they are aware of the Non-Resident Landlords Scheme.

Well done that blogger. We think the world needs to know more about this arrangement. The FT says it belongs to the Reuben brothers, two property tycoons who made their fortune in Russian aluminium during the chaotic 1990s. Could be.

(Separately, the Land Matters blog has also published a Land Value Tax proposal for Scotland.)


Blogger Robin Smith said...

Well spotted.

But are't the more important questions: Who is the biggest landowning institution, thus who is the biggest landlord.

Shouldn't we really ask ourselves who we all pay RENT to, both individually and institutionally:?

As follows:

1) The bank as so called 'interest'
2) Yourself as imputed rent as owner occupier
3) The landlord (often a banking institution who own the land)

1 is the biggest recipient of rent given they own 60% of the land as collateral on loans. About £200 billion annually

2 is the second biggest as owner occupiers, owning on the whole about 20% of uk land.

3 is the smallest landlord institution, about 20%, 10% privately, 10% publicly owned

Real Reform: Banks Are The 21st Century Landlords

6:28 am  

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