Wednesday, 27 June 2007

A tale of two Telegraphs

Interesting that there are two radically different views expressed in the Telegraph today on the taxation of private equity. For once I find myself agreeing with Alan Sugar Mini-Me Jeff Randall. See his piece here. Just in case you haven't been convinced of the case for changing the taxation paid by private equity partners, Simon Heffer's piece here should convince you.

Ignore the fact that it trots out all the usual, and weakest, arguments for the status quo (we mustn't interfere with the wealth of these genius businessmen or they will take their ball home with them and, yea, we shall all suffer). My point is that that his political judgment is so bad that you can get a pretty good feel for the direction an issue is heading by finding out the position Simon Heffer is adopting and looking for the complete opposite point of view. Put simply, if Heffer is defending the tax regime then Buffini and crew can as good as kiss it goodbye.

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