“The Class war is over.” Well it is for this former PM anyway.
Tony Blair pays just £315,000 tax on an income of £12 million across the last financial year.
The former PM’s huge income derives from a dense corporate web unofficially known as Blair Inc. This complicated network of companies allows the full extent of the former PM’s income to remain hidden.
The £12 million income, up 42% on the previous year, was filed by Windrush Ventures, one of Mr Blair’s many companies. However, almost £11 million of this income was written off as ‘administrative expenses’ and hence classed as tax allowable.
This brought total profits for the company down to just over £1 million. Corporation tax was levied on this at 28%, resulting in a bill of just £315,000.
City accountants have been scratching their heads at this large expenses figure. The accounts show that Mr Blair paid £2.3 million in wages to 26 staff in the last tax year. A further £300,000 went on office equipment, while £550,000 was spent on rent for Mr Blair’s Mayfair business base.
However this leaves almost £8 million of expenses completely unaccounted for. Much of this figure may have gone towards footing the frequent overseas trips made by Mr Blair and his business entourage. Analysis by The Sunday Telegraph this week revealed that in just 12 months, the former PM made 61 trips abroad – totalling almost 224,000 miles of travel.
The truth is, Blair and his ilk may not preach class war so much these days, but they practice it ceaselessly.
