Has the wind finally shifted in the debate about buyout activity? It certainly looks like it. Yesterday a range of groups (including the TUC) were giving evidence to the Treasury select committee about private equity. From the press reports it sounds like the BVCA got a real shoeing.
Reports in the Grauniad, Indie, Times and Torygraph all tell the same story. Reading the runes, I wouldn't want to bet against changes to the way that carried interest is taxed. The industry might bleat that their stars will move elsewhere, but I suspect that the patience of regulators around the globe at the PE industry's "and we're talking our ball with us" attitude is wearing thin.
Thanks to Naomi for providing me with the direct link to the GMB's stuff on insolvent pension funds at PE-backed companies. Here it is -