Tuesday, January 31, 2012

snouts in the trough

Former Labour government foreign secretary, runner-up Labour leader, brother of Labour leader, David Milliband, has been channeling his income through a company in order to avoid tax.

Milliband is earning up to £21,000 a day and channeling his earnings to a company jointly owned with his wife -- The Office Of David Miliband Limited -- effectively getting exemptions for half of his non-parliamentary earnings. The loophole allows tax reductions for joint enterprises if they take their income in the form of shared dividends, Miliband has managed to keep a great portion of his money to himself.

Miliband recently pocketed £64,475 for a three-day advising role from the United Arab Emirates foreign ministry.
He also works for Pakistan-based City firm Indus Basin Holdings. It was reported that he will do just five days’ work a year for the firm in return for a £50,000-a-year salary.


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