Chancellor George Osborne's family business made £6 million in a property deal with a developer based in a tax haven, a Channel 4 News investigation has found.Now, it must be noted that the article goes on to state that "There is no suggestion the Chancellor, or Osborne & Little avoided any tax in the deal, or that they or offshore property developer Nightingale Mews Inc. did anything illegal."
Wallpaper firm Osborne & Little teamed up with a secretive corporation in the British Virgin Islands, to draw up plans to redevelop its former London headquarters into housing.
The companies jointly applied for planning permission for around 45 flats and houses, and once given the go-ahead, Osborne and Little sold its site to the offshore firm for £6,088,000.
A legal expert shown contracts obtained by Channel 4 News said Osborne & Little must have known the developer was based offshore, and had the potential to avoid millions in tax.
At the time, the Chancellor was the beneficiary of a family trust that owned at least 15% of Osborne and Little, so would have personally benefitted from the sale.
Of course, I'm sure it's easy to do nothing illegal when you get to write the rules.
Just look at the man. He must be guilty of SOMETHING.
Dickens, even if he'd had the imagination to envisage such character, would have decided not to include him in any tale because he would have seemed to grotesque.