Boris Johnson’s pro-Brexit backer Crispin Odey has made a £300m bet against British businesses and stands to make huge profits from the woes of the UK economy.
The firm owned by the multimillionaire hedge fund tycoon, who made millions betting against the pound after the 2016 referendum, has taken out £299m in “short” positions on some of Britain’s biggest firms.
His apparent lack of confidence in flagship British groups, including Royal Mail and the shopping centre owner Intu, implies that he expects their share prices to fall as the pound continues to tumble.
The evidence is that Brexit is really about tax avoidance for the rich and powerful. The money pouring into the propaganda machine that has trapped much of the British population will end as soon as the rich and powerful have secured exemption from taxes.
This may well see the Brexit religion eventually dying out as it’s starved of propaganda and right wing spin.
Here’s the Brexit timeline:
6th December - EU unveils plans to crack down on tax evasion. Estimated tax dodging costs EU member countries 1 trillion Euros annually. Specific crackdown on tax havens with a second crackdown on “Aggressive Tax Planning”, is planned
Double-taxation agreements between individual countries to be reinforced to prevent tax avoidance and an EU-wide Tax Identification Number to expose dodgers as well as enhanced monitoring and scoreboarding tools to help detect avoidance.
January - Cameron asked EU to exclude UK offshore trusts from the EU crackdown on tax avoidance. The EU said "NO".
Aaron Banks donates one million pounds to UKIP
Britain rejected plans announced by Brussels to combat “industrial-scale tax avoidance by the world’s biggest multinationals”.
Panama Papers leaked, revealing industrial scale British involvement in tax avoidance. Named individuals included David Cameron, Vote Leave funder Arron Banks and the "Paradise Papers" exposed Brexit funders Robert Mercer, Barclay Brothers and the Koch Brothers as well as Jacob Rees-Mogg and members of Andrea Leadsom's family.
Vote Leave Group formed.
January: EU 2019 Anti Tax Avoidance Laws published.
February: Referendum announced
June: Anti Tax Avoidance Laws become EU law and UK votes to leave the EU.
MPs put amendment Financial Services Bill to honour EU anti-tax-avoidance transparency rules. Government immediately withdraws bill from vote.
January 1st Jan: EU anti-tax-avoidance laws must be implemented and enforced