tax avoidance UK

Amazon not the only company to have shifted European headquarters out of UK, other multinationals could follow suit and save billions

Online retailer's British operation owned by company in Luxembourg which receives all payments for books, DVDs and other goods

Time for change

Return to: Home | Business | Economy There is an institution with a murky history and remarkable powers that acts like a political and financial island within our island nation state. Welcome to the Square Mile and the City of London Corporation.

It's the dark heart of Britain, the place where democracy goes to die, immensely powerful, equally unaccountable. But I doubt that one in 10 British people has any idea of what the Corporation of the City of London is and how it works. This could be about to change.

Vince Cable of the UK Liberal Democrats has said out loud what is known in the U.K. as the bleeding obvious. "In the UK we need to put the whingeing of the City to one side and concentrate on delivering our core narrative, to achieve growth by rebalancing the UK economy.

Henk Ruyssenaars' article on July 10th 2006 drew attention to the book "Descent into Slavery" by Des Griffin in which the real meaning of the term "City of London" is explained. The following is an excerpt from that article.

The City of London provides local government and policing services for the financial and commercial heart of Britain, the 'Square Mile'. It is committed to supporting and promoting 'The City' as the world leader in international finance and business services through the policies it pursues and the high standard of services it provides.

History of The City of London