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A Truly Glorious Piece Of Richard Murphiness

A Richard Murphy

The Senior Lecturer Emeritus at Islington Technical College treats us to his analysis of the problems with taxation and wealth in the UK. He refers to the Equality Trust’s report on that wealth inequality. He notes that 6 people control as much wealth as the bottom 13 million.

He then tells us:

But as I noted from conversations in the City yesterday, the concern there is people moving home because of taxation when the concern should be people haing homes at all.

We should not worry about changes in taxation leading to migration of the people with money that is.

Except, well, it’s worth looking a those 6 people mentioned in the Equality Trust report:

The Hindujas – non-doms, not entirely subject to the UK’s taxation system.

Jim Ratcliffe:

The Times reported in February 2019 that Sir
Ratcliffe was planning to save up to £4 billion in tax after relocating to Monaco.

Michael Platt:

In 2010 he moved to Geneva from London,
Bloomberg reported, “avoiding the top British tax rate and increased regulation”.

Reuben Brothers:

The Times, in its Tax Haven Rich List
investigation, reports that the brothers “are British citizens but are believed to have
non-domicile status”.

But we don’t have to worry about people migrating because of taxation, so Richard Murphy tells us. What perhaps should worry is that this man was paid by your and my taxation to teach economics to the young and impressionable.

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Leo Savantt
Leo Savantt
4 years ago

The Long March through the Institutions………. Those who still cling to the ideal that academic endeavour should revolve around the search for truth are behind the times. Social science, environmental science, economics and increasingly and most worryingly medicine have and are been politicised to the point that they are ceasing to be science at all. The goal of research is becoming nothing more than a mechanism to justify political opinion, not so much conformation bias but rather a very deliberate distortion of what is in favour of what the researcher believes should be. As has been said before, the Age… Read more »

Andrew Carey
Andrew Carey
4 years ago

I’m worried about the Equality Trust using this Jim Ratcliffe character to make their point – the Times informs me “3 Jun 2018 – Ineos owed $8.5bn, funded by a syndicate of 230 banks. Co-founder Jim Ratcliffe was technically bust. ”
So he was in that bottom 10% at the time.
And he’s now in the top 10%.

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