Perhaps this is why George Osborne refused to answer questions about his involvement in tax avoidance:
Chancellor George Osborne, who owns a 15% stake in his family’s business Osborne & Little Group Ltd, ‘personally benefited’ from the sale of £6m worth of property to a company based in the British Virgin Islands – a well-known tax haven.
First reported following an investigation by Channel 4 News in 2015, Osborne & Little Ltd teamed up with a company called Nightingale Mews Inc. to redevelop the site of its former headquarters.
Both companies jointly applied for planning permission, and once they were given the green light, Osborne & Little sold their site to the offshore firm for £6,088,000.
At this point in time in 2005, the soon-to-be Chancellor of the Exchequer was the beneficiary of a trust that owned at least a 15% stake in the family-run business, and so George Osborne would have ‘personally benefited’ from a chunk of this £6m windfall.
Join the Vox Political Facebook page.
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Buy Vox Political books so we can continue
fighting for the facts.
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here: