As has The Guardian

The universities of Oxford and Cambridge, and nearly half of all Oxbridge colleges, have secretly invested tens of millions of pounds in offshore funds, including in a joint venture to develop oil exploration and deep-sea drilling, leaked documents from the Paradise Papers reveal.

The files show that both universities have committed significant funds to multibillion-dollar private equity partnerships based in the Cayman Islands, a tax haven popular with American and British hedge funds.

24 thoughts on “As has The Guardian”

  1. Any possible –preferably traditional–British institution that can be smeared with this “tax evasion” pack of socialist lies IS going to be smeared Tim. The truth and the fact that MC/CM left are doing exactly the same and it isn’t tax evasion anyway is irrelevant to the deceitful narrative.

    A decent PM who did a weekly broadcast countering leftist lies could be a very good idea. Breathe-Smogg would be ideal for the job and the BBC should be forced to put the show out and prevented from undermining it and/or running any propaganda around it.

    Or far better yet the BBC would have undergone a 24 hour permanent shutdown and would not exist to try on any more leftist lies–ever.

  2. Own up, how many institutions and individuals make public statements about their investments? How much do we know about the onshore investments of Oxbridge colleges? Are they secret too? Or is it only the offshore investments that are secret? Did they also make known offshore investments? So many questions, if only we were dealing with proper journalists rather than ignorant vigilantes

  3. The Unused Testicle

    It’s very nearly a definition of socialism, isn’t it?

    Don’t do as I do, do as I tell you?

    I am feasting on gourmet food in a Paris restaurant, to which I flew first lass tonight, under a glittering crystal chandelier.

    You must eat a raw potato in the kitchen of your two up two down with a shitty little 2W halogen bulb.

    We have created a begging corporation (oh wait! “Charity”) to enable fake charities in the US to pay us tax free. We don’t pay tax on their donations (ho!ho!ho!) to us.

    You, you nasty big commercial companies, pay up what the court of opinion wants and fuck the law.

  4. Being an investment in a limited partnership the structure is tax transparent (ie te fund vehicle provides no deferral of tax benefits). The LP is simply the entity through which investors pool their funds for the manager then to invest in the target. Another storm in a teacup.

  5. As a member of one of those universities, I ought to feel sad at seeing it castigated but It’s not the place it was. Indeed it’s permeated with the same unthinking ideology as its accuser so let them get on with it – the result can only be salutory.

  6. Elementary probability theory points out that investors should diversify (including by geography) their investments to reduce the risk. That is why funds werre created.
    The problem withfunds was that most investors could get taxed twice on the same income.and that UK charities – inckuding Oxford and Cambrisge Colleges – were not exempt from income tax in foreign countries. The obvious solution was to set them up in a country that does not tax the fund.
    This is all so elementary that anyone except Prem Sikka and the Grauniad is aware of it.

  7. Given the parlous state of the UK oil industry, how exactly is one supposed to invest in profitable exploration and production without the cash leaving the UK in some way?

  8. Sikka said “It’s not as if this is a place actively engaged in advancing science, research or human knowledge.”

    Essex University?

  9. Prem makes Snippa seem Premier League. The idea that, for example, a company based in Norwich only makes transactions in Norwich is one that most people grow out of by the time they are 3. Still it gets you a payment from the Guardian, the paper for pre-readers

  10. “Let me guess, no comments permitted on this article. [clickety] Quelle surprise!”

    You don’t have to visit the Guardian site these days to know what articles allow/don’t allow comments.

    Just as you don’t have to hover over the article link Tim provides to know it’s the flippin’ Guardian in the first place!

  11. My pension is with Scottish Widows, so clearly it’s invested in nice safe projects like haggis farming and whisky mining.

  12. Snippa on top form

    It looks as if you are saying that there are good things about Brexit. About time. We could never have the economic policies you advocate if we remained in the EU

    Richard Murphy says:
    November 9 2017 at 11:23 am
    I am saying no such thing

    I am saying it is contributing to an unholy mess

    And we could have what I want in the EU

  13. @ Mr Ecks: putting aside the question of whether anyone would actually watch it wouldn’t it be better to take a leaf out of The Donald’s book and eliminate the middleman – in this case not by using Twitter, but by posting straight onto U-tube?

    Thinking about it further couldn’t you do this rather than the Maybot? I expect everyone on here would be regular viewers!!

  14. @ Flatcap

    No one cares, the whole point of this is to make you sound like a criminal because you’ve used your money in ways they don’t (understand) approve of.

    It’s insanely annoying that so many people are falling for such bullshit, just look at the terminology they use ‘secret’ investments, OFFSHORE! gasp!

    Another person making that argument about another field would sound like a xenophobic arse.

  15. I imagine that both the Universities and their Colleges are non-taxable in the UK. How exactly are they evading tax?

  16. Exactly, dcardno. They are evil because the pre-readers at the Guardian and BBC say they are. Snippa agrees. They gave the court of public opinion on their side. If only Enoch were still around

  17. @dcardno
    They are not *evading* tax – they are avoiding tax that they should not have to pay because they are exempt from income tax.
    The Grauniad is stuffed full of Oxbridge graduates so it must know that.
    At some point we decide that the assumption of incompetence rather than malice is insupportable and that we are forced to assume that the Guardianists are motivated by malice

  18. @john77
    I’m not sure Oxbridge graduates – particularly those with the sort of ‘soft’ degrees that will get you a job at The Giradinu – are quite as knowledgeable as in our day.

  19. And in every thread where Snippa puts in a Venn diagram we get this kind of reaction

    Alistair M says:
    November 9 2017 at 8:04 pm
    Richard, this is not a Venn diagram, rather it is an Euler diagram. A Venn diagram shows *all* possible logical relationships between sets. In this example there is no discrete space for XW or VY etc.

    A four-set Venn diagram is actually pretty complicated:

    An Euler diagram has no such restriction, and just groups the relationships between specific sets.

    I fear I’ve missed the point, but pedantry is often a virtue in accounting

    Richard Murphy says:
    November 9 2017 at 9:43 pm
    None of my Venn diagrams are really anything of the sort

    They are cartoons

    If you had followed the series (there have been many) I think that’s obvious

    Apologies if it was not

  20. None of my Venn diagrams are really anything of the sort

    They are cartoons

    Now he’s a cartoonist, and a shit one at that. Is there no beginning to Dick Tater’s talents?

Leave a Reply

Your email address will not be published. Required fields are marked *