Meet the real Richy Sunak

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OpenDemocracy has dirt on the longtime Boris Johnson facilitator and collaborator

Rishi Sunak could become PM. Here’s what he doesn’t want you to know

Rich as fekk, privately educated at ridiculously expensive public schools, owns many properties worldwide, cut benefits, helped cause the 2008 financial crisis, has a hedge-fund company called Theleme ! registered in the Caymen Islands, unknown business dealings, his missus Murty is richer than the Queen, has strong links to right-wing think-tanks, employs slick PR.

By bailing out vulture capitalists, Rishi Sunak has revealed his true priorities

Last week, in a largely unreported decision, Rishi Sunak quietly announced that private equity owned companies would now be eligible for government bailout loans.

This means that fabulously rich private investors like Blackstone, CVC Capital Partners, Apax Partners, Permira Adviors, and Bridgepoint will have access to government business support schemes such as the coronavirus business interruption loan scheme (CBILS) and coronavirus large business interruption loan scheme (CLBILS).

In many ways, this aligns with the government’s broader strategy towards COVID support schemes: they are primarily designed to support ‘business’. And this means that although some jobs may or may not be saved, this is incidental. The main aim is to preserve the corporate economy.

Rishi Sunak said he’d protect the vulnerable. So why is he making them pay?

Overall the Budget seems designed to fuel a two-tier recovery, where the winners from the pandemic prosper at the expense of everyone else. Ultimately, the effect is to shift the cost of the pandemic onto those who can afford it least. In practice this is disproportionately the young, women and ethnic minorities.

Continue ReadingMeet the real Richy Sunak

“This is the United Kingdom for God’s sake, not some third world banana republic where the organs of state are in hock to some sort of kleptocracy”

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https://www.buzzfeed.com/heidiblake/uk-refused-to-raid-lycamobile-citing-its-tory-donations

The British government refused to assist a French investigation into suspected money laundering and tax fraud by the UK telecoms giant Lycamobile – citing the fact that the company is the “biggest corporate donor to the Conservative party” and gives money to a trust founded by Prince Charles.

French prosecutors launched a major probe into the firm and arrested 19 people accused of using its accounts to launder money from organised criminal networks two years ago, after BuzzFeed News revealed its suspicious financial activities in the UK. But the Conservatives continued taking Lycamobile’s money – and it can now be revealed that the British authorities stonewalled a formal request from French prosecutors to carry out raids in London as part of the ongoing investigation.

Confidential correspondence between British government officials and their French counterparts, shown to BuzzFeed News by a source in the UK, reveals that the French wanted British authorities to raid Lycamobile’s London headquarters last year and seize evidence as part of their investigation into money laundering and tax fraud by the company.

In an official response dated 30 March 2017, a government official noted that Lycamobile is “a large multinational company” with “vast assets at their disposal” and would be “extremely unlikely to agree to having their premises searched”.

The letter, from the team at HMRC that handles law enforcement requests from foreign governments, continued: “It is of note that they are the biggest corporate donor to the Conservative party led by Prime Minister Theresa May and donated 1.25m Euros to the Prince Charles Trust in 2012.” The email referred to Lycamobile’s donations to the British Asian Trust, which was founded by the Prince of Wales to tackle poverty in South Asia, not to his youth foundation The Prince’s Trust which has never received any money from Lycamobile.

Continue Reading“This is the United Kingdom for God’s sake, not some third world banana republic where the organs of state are in hock to some sort of kleptocracy”