TaxCorporate TaxPrivate equity facing ‘Custer’s last stand’ say unions

Private equity facing 'Custer's last stand' say unions

Paul Moloney of GMB union threatens to chase private equity 'down every rat hole' to see 'who they are ripping off'

The private equity industry is facing
its
‘Custer’s last stand’
moment, according to the unions.

Union officials were quoted in
The
Observer
this weekend making the claims, as they were buoyed by suggestions
from the chancellor of a tax crackdown.

There are two reviews of the buyout tax regime under way: one into interest
relief and the other into capital gains taper relief on shares owned by buyout
bosses.

Paul Moloney of the GMB said: ‘we will chase them down every rat hole to find
out where they are getting their money from and who they are ripping off.
They’re on Custer’s last stand.’

Brendan Barber, the TUC general secretary, also wants reform of debt relief,
and a rigorous investigation of the ‘carried interest’ capital gains rules, he
said.

Further reading;

Read
Tax Hack on ‘Custer’s last stand’

Read
the Observer’s story

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