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Letter to @arusbridger

Letter to @arusbridger

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Published by Guido Fawkes
Letter regarding the Guardian Media Groups tax affairs investments in hedge funds and offshore.
Letter regarding the Guardian Media Groups tax affairs investments in hedge funds and offshore.

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Published by: Guido Fawkes on Feb 22, 2011
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07/10/2013

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GGN Limited Publishers of Guido Fawkes’ Blog and Producers of GuyNews.

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Tuesday, 22 February 2011

Alan Rusbridger Editor-in-Chief, Guardian News & Media Dear Alan, As you may have noticed my blog has been doing some investigative reporting of the kind for which the Guardian is famed. We have been looking into the investment portfolio of GMG and the tax strategies the board has been operating over the last few years. During this same period the newspaper you edit has railed against the use of offshore tax havens, the activities of hedge funds and such like. The GMG annual accounts are not detailed on these matters and are so opaque as to reveal very little. Can you be so kind as to confirm the following:

• • •

The present value of GMG and associated companies’ assets held in jurisdictions which are defined as “tax havens” by the United Nations. The total value of investments held in speculative hedge funds, managed funds or otherwise. The names of individual fund management firms and their regulators. The tax domicile of said fund managers.

It is very difficult to quantify precisely the activities of your offshore funds and assets because the reporting standards fall below that which would be required if they were within the UK tax regime. Is there a reason why your board does not bring them onshore to the UK and in doing so making them more transparent? I am sending this via email and Twitter. I look forward to lunching with you another time soon. Yours sincerely,

Guido.Fawkes@Order-Order.com

GGN Limited, Incorporated in Nevis
Springates East, Government Road, Charlestown, Nevis, WI

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