HSBC – Message Just In From Private Eye

Osborne Balls

Osborne Balls.

“The farsically lenient treatment of HSBC over its tax evasion operations  – which was effectively ring fenced so that no criminal or regularity authority apart from HMRC would look at the matter and the taxman would hush things up – raises the question of what political influence might have been brought to bear.

As HMRC started looking at the evidence in 2010, HSBC it turns out, appears to have been very keen to get on the right side of the government elected that month.  By June the bank had been in to see new chancellor George Osborne on two separate occasions which was two more than any other bank – including the ones that were by now either mainly or partly state-owned.

For a number of years HSBC had been threatening to move its head office out of the UK over grumbles over corporate tax rules (duly relaxed).  This would have been a PR disaster for Osborne and the Treasury was anxious to appease the bank.  Did this extend to ensuring that it wasn’t humiliated over its dirty little Swiss secret?”  Private Eye p7 20 February – 6 March 2015.

David Cameron is ‘turning a blind eye’ to tax avoidance, says Miliband as he vows immediate probe into multi-billion-pound schemes

16 February 2015

HSBC scandal: Chancellor Osborne grilled by Business Secretary over govt inaction

Wednesday 18 February 2015

“GEORGE OSBORNE’S studied silence over the HSBC tax avoidance scandal speaks volumes. If the issue were anything else but tax evasion and avoidance, he would be seeking to find an angle to turn it against Labour for all he’s worth. But on tax avoidance he’s skewered.”

Osborne Deeper In It After Embarrassing Video Re-Emerges

UKC 17 February 2015 -Osborne hide wealth and claim from the state

Gid’s Vid May 2003.

Gid “has now given an interview to Sky News in an attempt to break, what Labour called, his “week of silence” over the coalition’s stance on HSBC and the tax arrangements of those using its Swiss private banking arm.”

 GW:  They are calling him Janus George over at Huff Puff.

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