To protect their wealth from British tax authorities, tax avoiding media tycoons want out of the EU single market.
Ahead of the EU referendum, pro-Brexit media blamed the EU for increasing the increasing number of migrants, accused Angela Merkel of bullying Britain, condemned High Court judges as “Enemies of the people”, influencing British people to vote to leave the EU.
Just like politicians that work together around a common policy, there is a common conviction that distinguishes a particular news agency. Regarding the pro-Brexit press, most of them are owned by wealthy tax-avoiding billionaires. Rupert Murdoch owns The Sun, Barclay Brothers own The Telegraph, Richard Desmond owns Daily Express, and Lord Rothermere owns Daily Mail.
Richard Desmond’s Tax Profile
“New Express owner Richard Desmond’s huge publishing and TV sex empire has paid just £200,000 in corporation tax since it was established eight years ago, The Observer can reveal… His two main holding companies – Northern & Shell Group Ltd and Portland Investments Ltd – are owned by trusts in Guernsey, the Channel Islands tax haven.”
Lord Rothermere’s Tax Profile
“Sonia Sinclair remembers sitting next to Rothermere at a party for Imelda Marcos at the Philippines embassy. ‘Vere turned to me towards the end of dinner and said: ‘I’m leaving this country tomorrow for good. It’s absolutely essential, otherwise I’ll be virtually ruined by taxation, and I feel terribly strongly about keeping the empire together.”
Rupert Murdoch’s Tax Profile
“Rupert Murdoch’s media conglomerate News Corp. lobbied in favor of the new Panama free trade pact, according to federal lobbying disclosure forms — a pact that will make it more difficult for the U.S. government to crack down on Panama-related tax abuses. Panama is a notorious tax haven, and News Corp. also operates a subsidiary there.”
Sirs David and Frederick Barclay Tax Profile
“London’s high-end Ritz hotel has not paid any corporation tax in the 17 years since it was taken over by the reclusive Barclay twins…The accounts show that the profitable hotel has used a series of tax reliefs to reduce its corporation tax to zero.”
To comprehend the real intention of the UK’s pro-Brexit press, one must review the proposed regulations Brussels intends to enact. Unaware of the UK’s tax-avoiding meadia tyccons’ cunning aptitude to deceive the British voters into leaving the EU, Brussels decided to crack down on tax-evaders and tax havens that operate within the EU Avoidance Directive.
“The new EU listing process is part of the EU’s campaign to clamp down on tax evasion and avoidance and promote fairer taxation, within the EU and globally. It was proposed by the Commission in the External Strategy for Effective Taxation in January 2016, and endorsed by EU Finance Ministers in May. The European Parliament has also repeatedly expressed support for an EU listing process.”
Once David Cameron announced the EU referendum, the Sun, the Telegraph, Daily Mail and Daily Express undertook a smearing campaign against the EU in order to protect the tax-free assets of their wealthy owners, actively persuading the British population to leave the EU.
Apparently, Mr Farage also tried to avoid paying his taxes through an offshore trust fund.
“The 49-year-old paid a tax adviser to create the Farage Family Educational Trust 1654 in the tax haven – which he intended to channel funds through.”
Mr Farage himself confirmed that the EU should keep their hands off British businesses. At the end of his BBC interview reflecting on the Supreme Court’s decision, Mr Farage revealed the crucial aspect of his Brexit campaign, stating:
“Well, we would be half-Brexiting is my guess – is that legally we may get out of some aspects of EU membership, but if we stay in the single market, we finish up with all our businesses being regulated somewhere else and indeed a court in Luxembourg that can overrule our own Supreme Court and if that happens it will a supreme act of betrayal.”
Mr Farage emphasised that: “if we stay in the single market, we finish up with all our businesses being regulated somewhere else”, singling it out as a supreme act of betrayal. If Britain doesn’t leave the EU single market, all businesses and tax havens that operate within the EU will be subjected to the new Anti Tax Avoidance Directive, which will be enacted in 2019 when the Brexit negotiations are expected to end.
Thanks to UKIP and Tories, and other politicians who are keen to leave the EU single market, wealthy tax-evading individuals will continue to enjoy their tax havens, free from EU regulations, subjecting Britain’s little people to either higher taxes or extreme austerity measures.