Monday 25 July 2016

The rich and powerful voted Brexit

This happened so quickly and casually on ITV news tonight that it might just be wishful thinking on my part. Sir Phillip Green was heavily criticised today for his (perfectly legal) fleecing of a famous old retail chain British Home Stores.He owned it,and decided to reward himself and his family by paying large dividends to himself and them. Then he sold if for £1 to an incompetent. All sorts of great and good accountants and financial bodies said the deal was OK. Then the business went bust.

As I recall, the newsreader introduced this item by saying something like:

Well, there might not seem to be much of a link, but in the desperate search for reasons for Brexit...this is how the rich and powerful vote for their own interests. Then into the report about Green.

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