Wednesday, 28 January 2015

Financial constraints - me arse.

Here's how normality works. 

On the Today programme we heard a woman from the NHS say: "...the financial constraints we're under in this country".

Then later we heard an item how "Apple put their profits in a tax haven…"

(In fact they borrow money against these profits (presumably at a very low interest rate) and buy bonds in their own company (presumably offsetting it all against tax)….search me, I don't fully figure that bit of the fiddle, but it 'saves' them millions, and takes it away from tax take in US, UK etc etc…)

If Apple are doing it, then so are others….

"Financial constraints…" - me arse.