Philip Green is a retail billionaire who advises the Conservative led government on 'efficiency', that called 'sacking people' outside board rooms and conservative circles.
He is Britain's ninth-richest person with assets worth around £4.43bn in 2008.
Taveta Investments, the company used to acquire Arcadia in 2002, is in the name of Green's wife, Cristina Green, a Monaco resident, avoiding £285 million in tax that would be payable if a UK resident owned the company. When Green paid his family £1.2bn in 2005, it was paid for by a loan taken out by Arcadia, cutting Arcadia's corporation tax as interest charges on the loan were offset against profits. In comparison, staff at Arcadia were told in 2005 that members of its final salary pension scheme must increase contributions by half and work five years longer to qualify for the same payout.
UKuncut are currently campaigning against Philip Green and his unpaid taxes http://www.guardian.co.uk/world/2010/nov/29/philip-green-protest-alleged-tax-avoidance?CMP=twt_gu
Let's show some solidarity and support UKuncut.
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