Hedging your bets…

A couple of days back I wrote a piece about the latest bout of UKIP ‘scandals’ and now here we go again – this time with the Labour Party…

Say hello to Martin Taylor. Martin is a very wealthy hedge fund manager. Over the last three years, he has become the fourth largest donor to the Labour Party and has had at least one private audience with Ed Miliband. Nothing wrong with that, I hear you say and you’d be right. We’re not suggesting that there’s anything illegal about it or that Mr Taylor doesn’t pay his fair share of taxes.

What we are bleating about is Labour’s apparent eagerness to keep his identity secret. Last week Labour faced such allegations after it emerged a newspaper had first asked about his identity several months ago. He has given £591,800 since 2012.

It also emerged that Mr Taylor’s company, Nevsky Capital, managed a fund with a £10million stake in United Health, an American private healthcare giant which has run NHS-funded GP surgeries and is bidding for health service contracts.

Tory MPs accused Mr Miliband of being a ‘hypocrite’ from taking his money after Labour have hit out at NHS ‘privatisation’ under the Coalition and claimed they would prevent it if they win office. United Health UK, its arm in this country, has run a number of GP surgeries over the past few years. But the firm was fined tens of millions of dollars in the USA for allegations it over-charged patients.

It is also bidding for other NHS work including a controversial £1.2billion contract for cancer and end-of-life care in Staffordshire and Stoke on Trent, described as the health service’s biggest ever privatisation.

This is all a bit rich too when you consider that Miliband has attacked the Conservatives for being ‘the party of Mayfair hedge funds’. Ironically Mr Taylor’s firm is based in Mayfair.

And to round it all off, A Labour spokesman said “Unlike David Cameron and the Conservatives who increasingly rely on the money of an exclusive group of donors – the same people who they have rewarded with tax breaks – Ed Miliband will enter Downing Street owing nothing to anybody.”

Bloody hypocrites…!


5 responses to “Hedging your bets…

  1. Mick Anderson

    So, Mr Miliband is not only in a different world to us plebs, but also to the (presumably important) Treasurers of the Party that he leads.

    Not surprised…..

  2. “end-of-life care in Staffordshire”

    Haven't we already got that? (Minus the care component)?

  3. I have heard it said that life is a long painful illness, curable only by death…

  4. Been in Malta for the last week but couldn't resist watching Camoron and Milicunt. It was on Sky – 5 times a day!!! Wasn't impressed and thought Paxo gave Moribund a softer ride…

  5. Paxo's Beeb. OF COURSE he's easier on Millipede…