A delve into that nasty tax-avoiding little rag the 'Guardian' often leaves one with the desire for a wash and a change of shirt, but never more so than when the grubby Gee turns its malicious eye on our national institutions. As incomprehensible as it seems to the rag's facile journos, institutions such as the Lords and the City of London are there because they work and serve this country well. Today two fatuous scribblers under the names of Nick Mathiason and Melanie Newman give their readers a distorted and misrepresentative take on the City. Yes, the Remembrancer does sit in Parliament. Yes, the Corporation does put on an annual blow-out for the commercial gents. Two facts, though, are signally absent; that the City contributes £64bn in tax annually to the UK, and that it employs 1.1 million workers. Take a look at this;
With Wales, Northern Ireland, the North East, the North West, Yorks and Humber all spending some £2,000 per head on average per year more than they collect in tax, the City's tax-take subsidises some 32,000,000 citizens in the less prosperous regions. That's 32m who would have to pay an extra £167 a month each in tax if the City didn't pay it.