Miliband tax loophole still not closed

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A topic from News & Current Affairs: Political

laresSun 29/01/12 14:03

"David Miliband is channelling his earnings of up to £21,000 a day through a controversial tax loophole his own Government vowed to close.

The former Foreign Secretary uses an ‘income-shifting' device that was condemned by Gordon Brown's administration.
Last night Tory MPs accused Mr Miliband of hypocrisy for taking advantage of the tax-avoidance measure.

Rather than paying income tax on his non-parliamentary earnings, Mr Miliband pays the money into a company where shares are split 50-50 between himself and his wife Louise Shackleton.

Mr Miliband recently pocketed more than £21,000 a day for work in the United Arab Emirates. His rate of pay even outstrips controversial Royal Bank of Scotland boss Stephen Hester, who earns just under £6,000 a day in salary and bonus.

Mr Miliband's latest entry in the Commons Register of Members' Interests shows that he received £64,475 from the UAE Ministry of Foreign Affairs."

http://1sq.me/zHg2b3

Why didn't Labour stop this when they were in government? More to the point, will the ConDems?

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