Labour’s £4 million from a hedge fund in a tax haven

JVL Introduction

Not only is Quadature Capital registered in the Cayman Isles and so pays minimal tax towards the needs of people in Britain but, as this article shows, among other things, it invests in arms, and also private health care. Furthermore, despite claiming its donation is about support for Labour policies on green energy to address climate change, Quadature Capital also invests in fossil fuels.  Apparently this donation of £4 million is the largest single political donation in UK politics.  We have to ask in whose interest is the so called Labour government going to operate.

The article also outlines what we can consider “convenient” dates for declaring such donations – so this just missed the more stringent declaration rules that apply during an election and, of course, he failed to declare large donations when he stood for Leader of the Party.  Starmer has also accepted more gifts as Leader of the Opposition than any other politician and seems reluctant to agree to stop even when centrist Labour MPs are asking him to.

You may also be interested to  hear Owen Jones on this appalling situation, where he makes the point that Labour’s popularity is sinking after only eleven weeks and the worry that the far right will move in to take advantage of the disillusion that has already set in.

LL

This article was originally published by Open Democracy on Wed 18 Sep 2024. Read the original here.