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
‘Custer’s last stand’ moment, according to the unions.
Union officials were quoted in
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
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