Realist, not conformist analysis of the latest financial, business and political news

Margaret Hodge’s Family Company Owns Aryan Mining

This is nothing more than a mild giggle at the manner in which nomenclature can mean different things in different places. To use the world “Aryan” here in western Europe is rather to end up being flagged as believing in that BNP nonsense about blond racial superiority and that gubbins. Over in India it’s a bit different – Aryans being an actually known grouping that did invade at least the North of the country millennia back.

Stemcor is the family company of Dame Margaret, Lady Hodge. Or perhaps we should say the extended family she comes from has a company called Stemcor. Which makes this all a source of mild amusement:

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]According to the company’s presentation Stemcor has controlling stakes in a local iron ore producer Aryan Mining & Trading Corp, Brahmani River Pellets Ltd. and a 10% equity plus trading rights in Mideast Integrated Steel Ltd.[/perfectpullquote]

Really, who would have thought that Dame Margaret, Lady Hodge, indirectly has an ownership stake in a company called Aryan Mining?

Yes, of course it’s not important, of course it’s trivia. But it is still a bit of a titter.

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Quentin Vole
Quentin Vole
2 years ago

And historically Stemcor has paid very little tax on its multi-billion turnover, for the very good reason that they have historic losses to carry forward. But that doesn’t stop Dame ‘Enver’ Hodge from complaining that businesses with large revenues and small profits pay too little corporate tax. It’s almost as though she’s either very stupid or a total hypocrite (not two mutually exclusive propositions).

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