I have always argued that offshore is a mechanism created by capital to launch an assault on democracy. That is exactly what is written all over this suggestion. Macquarrie are making it clear that people’s choice to elect a government that might seek to take into public ownership the utilities that serve them should not matter: the ‘fiduciary duties’ of capitalism come first.
I would suggest Macquarrie are too late. First, saying it proves the public case against them. Second, the potential for this to happen is already foreseeable and so is not protected by treaties.
But the broader signalling is more important, and clear this morning. First we have Dyson demanding the UK behave like a tax haven. Now we have a warning that tax havens must be used to subvert the democratic choices of the UK population.
It feels as if class warfare has been declared.
The declaration was made by those like the Senior Lecturer who decided that anything owned by rich people should be nicked.