Vince Cable sidelined

With all the hoo-ha about Astra-Zeneca I thought I'd look this up.

One thing that is abundant clear to me is that Pfizer just want a Tax loophole and that's why they want Astra-Zeneca.

Second thing is that all the hoo-ha should have been down to the twit Vince Cable's department but No, Cameron and his sidekick Osborne have pushed it over to the Treasury where it'll get less scrutiny of course.

Don't be surprised when it goes ahead, partly because no matter what their CEO is saying on TV, all the AZ board will have a share in £60 Million so guess what'll happen?!

Osborne & Cameron were so very outspoken about PFI deals and selling-off the country's heritage before they got in were they not?

Spot the difference and bear it in mind next week. stevmk2

Re: Vince Cable sidelined

Reminded of the Genesis song "Selling England by the Pound"

Re: Vince Cable sidelined

Although this clip relates to 'Staff Officers' in the Army, it is also appropriate for politicians too.

http://www.youtube.com/watch?v=9Pg3rmc243g

Re: Vince Cable sidelined

Yes Steve, but how is this different to all the other people from poor to mega rich.

The lawyers have just managed to get a law passed which says that if you are frightened of dogs you can go to court and get a lump of cash.

So very soon we are going to see people who have never been bothered by dogs go to court and lie to get a handout. Just like all the people who get drunk and fall over in a council car park get paid off, the millions who suddenly 'forgot' they had PPI and are now being handed thousands.

Or all the shop keepers in the Southern American states who amazingly find their takings are 'down' after the recent Gulf oil spill and claim compensation. (Not all are getting away with it but it's common knowledge that most claims are bogus)

It's human nature Steve, offer someone the chance to pick up a wad just by 'forgetting' something they knew dam well and they will take it. Humans are the No.1 creatures on this planet for blanking their past in order to benefit themselves today.

And I mean ALL humans, not just the rich.

Re: Vince Cable sidelined

Sorry but by taking that one line, (the AZ board will have a share in £60 Million so guess what'll happen?!) I don't really see where this post relates to Astra-Zeneca being taken over by Pfizer - the subject of my thread?

My point is that it must be blatantly obvious that this government will probably do nothing to stop Pfizer taking over AZ when even a blind man could see that the reason is for tax evasion in the UK market.

This is the very same government claiming to be clamping down on Tax evasion; the same government claiming to be pushing for more "transparency"; the same government that derided Labour's PPI deals in opposition but now touting them as their very own invention and so on.

An example: - a new £238million hospital being built under the off-the-books PFI deal now favoured by Osborne & Cameron will cost that Hospital Trust £40million per year for 20 years. stevmk2

Re: Vince Cable sidelined

Yes, you are right it's off topic, still you wrote the words so I just wanted to point out the AZ board are no different to any other humans.

Is it all about avoiding paying tax well maybe, but the tax Pfizer don't want to pay is due to the American government not ours, so the UK will not benefit regardless of the outcome. In my view the UK will loose out on research and development to some extent and this is the main reason why in my opinion the merger should not be allowed. But even if I was a shareholder in AZ (Which I'm not) I doubt my wishes would be considered.

Re: Vince Cable sidelined

Not quite right regarding the Tax from what I understand Losos - they basically want AZ as a "vehicle" for Tax that Pfizer incurs in the UK as AZ undoubtedly has such an avoidance set-up already.

As I said, I looked it up an analysis clearly indicates their driving force for this take-over.

I agree that this take-over (NOT merger) should be stopped in the interests of British R&D and particularly jobs, which will inevitably be lost in the UK and along with it, more British expertise; Kraft made similar promises with the Cadbury take over and promptly broke 'em all!

Yes, the AZ board are only human but what irks me the most is seeing our own government letting this happen again!

This short-termism with British-owned industry is increasingly depleting what was once a great nation of engineers, chemists, physicists etcetera.

So what's the future hold for our young?

Warehousing & Logistics of produce made in other countries?

No need for expensive education required work 06:00 - 14:00 or 14:00 - 22:00 shifts in a warehouse I can assure you.
I've done that for 2 years in the past and it's purgatory! stevmk2

Re: Vince Cable sidelined

Well I have not analysed AZ's accounts but I would be surprised if such a large Anglo Swedish company were doing anything dodgy in their tax affairs. From my experience the Swedes are particularly strict about paying their taxes even 'tho they have some of the highest in the world.

Anyway, it's all history now since the AZ board have rejected the Pfizer 'final' offer so unless they want to go hostile, which would cost both companies billlions, it ain't gonna happen.

Whew, that was a close one

Re: Vince Cable sidelined

Not dodgy at all Losos.

As AZ already are a UK-controlled multinational they can legitimately shunt profits into Ireland or the Netherlands Tax havens with impunity just as other big UK companies can.

Pfizer was merely using this take-over to "re-domicile" it's head office because firms turning over $50Billion a year can then cut their Tax Bill down to 20% - an estimated saving for Pfizer of £800Million a year!

I'm glad it's not going through.

Pfizer's CEO Ian Read was asked if they'd have launched a take-over bid for AZ if there hadn't been tax "manoeuvre" available and he replied "I don't want to speculate on hypotheticals" - that's a No then!! stevmk2

Re: Vince Cable sidelined

So what's the problem, if Ireland and Netherlands have lower tax regimes why not I've never met anyone who likes paying taxes, companies big and small are the same. Maybe the UK should start cutting the money they spend so that it can compete with Ireland and Netherlands, both of which have pretty much the same social obligations as the UK government has, but that's a different subject so best not veer 'off topic' twice or I'll upset the mods