18 of the 23 Tory Cabinet are millionnaires

Hey – Just in case you were wondering why the Tories are making you and your parents pay for this current economic crises – part of the reason is perhaps because most of them are millionaires and they simply do not understand what life is like for ordinary people and can afford not to care about the rest of us.

A summary of a couple of recent news articles

18 of the 23 of the new cabinet are millionaires, according to an analysis by The Sunday Times.

David Cameron, the Old Etonian prime minister, is relative small fry: his £3.4m estimated fortune puts him only in sixth place in the ministerial rich list.

Top of the list is Philip Hammond, 54, the new transport secretary, with an estimated fortune of £7.1m. He made the biggest slice of his wealth through the property developer Castlemead.

George Osborne, 39, benefits from a 15% stake in his family’s upmarket wallpaper business, Osborne & Little, a firm valued at £12m. Osborne owes much of his wealth to inheritance

The deputy prime minister, Nick Clegg, 43, a banker’s son!!!, is worth about 1.8 million

This article outlines details of a programme which claims that three ministers (Osborne amongst them) are avoiding taxes.

The programme also focuses on Mr Hammond, whose £7.5million fortune makes him one of the wealthiest of the Cabinet’s 18 millionaires. It suggests that his practice of paying himself share dividends instead of a salary from his property firm Castlemead is a tax-efficient device used by the wealthy and it claims that he moved to limit his exposure to the new 50p top rate of tax last year by moving shares in the firm into the name of his wife.

NB – The tories do not give a stuff about you – you have to make them care – by whatever means you think is appropriate!

Watch out for my next post – about Tory minister Andrew Mitchell – I will be explaining why he’s in the running for my ‘scum of the universe 2010 award’

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