[Image: Guido Fawkes' Blog.]

[Image: Guido Fawkes’ Blog.]

Is this why the BBC was reluctant to cover a protest against David Cameron’s tax avoidance?

Is it possible that Auntie was held in a similar position to John Whittingdale by people who were aware of this dodge?

Is that why – now that the BBC has reported on David Cameron’s tax avoidance (how could it not? The UK is in outrage about it) – suddenly Tory puppets like Paul Staines and his Guido Fawkes blog are now ‘outing’ the corporation?

It seems likely to This Writer. The BBC revelation followed the Cameron story very quickly, don’t you think?

That said, there is no excuse for tax avoidance by anybody. If the BBC has been engaged in this kind of shady behaviour, then it is right that it has been exposed.

I just question the manner in which it has happened.

Cameron’s taxes and the Panama Papers have led the BBCNews bulletins for the past week, yet licence fee payers remain unenlightened about Auntie’s own offshore financial arrangements. What better place to start than the 2013 BBC Pensions report, which lists investments held by the Beeb’s £9 billion employee benefit scheme. Scroll down to page 16 and it is disclosed that the BBC used investment managers Nephila Capital Ltd to invest £84 million:


Nephila Capital is a wholly owned subsidiary of Nephila Holdings Limited and is a Bermuda domiciled company. As the BBC lines up pundits to jump on the outrage bus about Dave’s £30,000 in a Panamanian unit trust, they stashed £84 million with investors based in Bermuda.There is lots more of this…

Source: BBC’s £84 Million in Bermuda | Media Guido

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