I wrote a few days back about the impact of Nicholas Shaxson’s book Treasure Islands - and the revelations it contains about unregulated financial institutions and tax havens being much more extensive than we realised. Today there is a story about how Amazon UK changed its ownership a few years back (now owned by a Luxemburg company) and has paid no Corporation tax on its 7.5 billion euros annual sales
Ironic (to put it mildly!) that I bought Shaxson’s book from Amazon UK; that Shaxson is apparently domiciled in Switzerland; and that his book was published by Bodley Head – once a proud and independent company but now part of the multinational Random House which itself engages in the tax gymnastics the book attacks.
Actually it's not ironic! It is a powerful demonstration of how extensive the coils of the octopus of the new gene of capitalism has become!
For new readers, these are not the rantings of a leftist - but of someone who in the 1980s strongly fought the hard left (and would still justify my role) but from whose eyes the scales have now fallen about the parasitical greed of the commercial elite.