Newspaper article The Evening Standard (London, England)

Even the MPs' Pension Fund Puts Its Money in Tax Havens

Newspaper article The Evening Standard (London, England)

Even the MPs' Pension Fund Puts Its Money in Tax Havens

Article excerpt

Byline: Jim Armitage City Editor COMMENTARY

AS the Prime Minister faces continued attacks by Corbyn & Co over his investments offshore, I wondered whether his Opposition snipers are themselves whiter than white.

Surprise, surprise, the answer was "no".

The Parliamentary Contributory Pension Fund -- presumably the biggest investment many MPs have -- squirrels away plenty of their cash in low-tax jurisdictions.

Just look at the Blairmore-style pooled investment vehicles it backs. OK, none of them are based in Panama but, as of last year, MPs' pensions were invested in two Blackrock funds based in Ireland, one in Jersey and a Morgan Stanley one in Luxembourg.

It has since pulled out of the last two but recently put money into the M&G European Loan Fund, based in Dublin.

As for where these funds themselves invest, it would be extremely surprising if they did not include numerous other assets in tax-haven destinations.

So, what to make of all this? …

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