Former Prime Minister Tony Blair channelled millions of pounds through a network of companies and paid just a fraction in tax, according to recently published official accounts.
The accounts provide the strongest evidence yet of the scale of Blair’s complicated finances through his various activities since leaving office in June 2007, which include his business consultancy firm Tony Blair Associates, speeches/lectures, and acting as an adviser to JP Morgan and Zurich, among other ventures.
Richard Murphy said in his blog that Blair adopted a “massively opaque structure” to ensure that much of his activity was hidden from view in an “arcane and rare” corporate structure called a 'limited partnership'.
The former Labour leader had set up a management services company, Windrush Venture, which was principally used to manage his business affairs.
The accounts reveal an income last year of more than £12m and ‘administrative expenses’ of £10.9m, leaving Windrush Ventures with a profit of more than £1m, on which Blair paid just £315,000 in corporate tax, at a rate of 28%.
Business and finance journalist