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news opinion
The majority of citizens of the UK pay their taxes. But they also will take any legitimate step they can to reduce their tax burden
That is sensible, prudent financial planning. Why pay more than you need? You should always act within the law, but you should also minimise the tax burden for your family, your company or your social club.
Every political party that is making a fuss about so-called tax dodgers in the run-up to the General Election has over the years done what it can legitimately to reduce its tax bill.
The smell of hypocrisy pervades this scandal.
There are of course people who will secretly move money around, who will launder their finances in a way which defies the law. Of course, they should be prosecuted.
What is so depressing is the fact that one party wants to take on the “rich and powerful“ and stand up for the “ordinary people“ without an ounce of understanding that those very people who have made their wealth have usually provided employment for large numbers and have contributed to the overall wealth of the nation.
Successful business people should be congratulated, provided they have not lost their sense of humanity, and provided they remain within the law.
If the Government
wants to change the laws, to allow it to take a larger share of an individual‘s income or company‘s profits, it should state its intentions clearly before the Election – and see how popular the policies are on polling day.
David Murray Publisher
www.businessmag.co.uk
Balfour Beatty buys Wightlink Ferries
Wightlink Ferries has been sold to Balfour Beatty Infrastructure Partners LLP (BBIP) which has purchased the company from Macquarie European Infrastructure Fund (MEIF) for an undisclosed sum.
Chief executive Russell Kew, chief operating officer John Burrows and the management team remain in charge of the company, which has said it is business as usual, with no changes to staffing, pricing, routes or schedules as a result of the change of ownership.
A vital link between the mainland and the Isle of Wight, Wighlink, which operates crossings between Portsmouth and Ryde, Lymington and Yarmouth and Portsmouth and Fishbourne, employs around 500 people, increasing staffing during the summer holiday season.
Kew said: “Wightlink has a strong and secure future with its new shareholders, which is good news for the company, our customers and staff. We look forward to working with BBIP to grow the business in years to come.”
Stewart Dunn, Hampshire Chamber chief executive, welcomed the return of UK-based ownership and emphasised the importance of investing in ferry services: “Wightlink Ferries employs hundreds of people and has long provided an essential economic lifeline for passengers and businesses on the Island, across Hampshire and beyond.
“Balfour Beatty is well known as a UK-owned construction company so its diversification into
transport is an interesting development. We look forward to learning more about its plans and in particular how it will run the services to a high standard. We call on them to ensure there is sufficient ongoing and future investment for reliable services, safe and comfortable vessels and sustainable jobs.
“It is also important that ferry services complement road and rail infrastructure plans, for example by ensuring ferry arrival and departure times link up with bus and rail timetables for the benefit of passengers.”
BBIP LLP partner Steven Lowry added: “Wightlink is a strong and stable company with the opportunity to grow and develop in the years to come. We are committed to investing in the business and supporting the management team’s focus on safety and improving customer service.”
Observers will be looking to see if the new owner invests in additional new vessels, as Wightlink operates the two oldest ferries on the Solent and is financially dependent on the tourism economy bringing more revenue to the Island.
Kevin George, CEO of Red Funnel Isle of Wight Ferries, which has plans for purpose-built terminals in Southampton and at East Cowes, concluded: “The sale has no bearing on Red Funnel’s strategy of delivering value-for-money services and an unrivalled cross-Solent travel experience. We carried record numbers in 2014. This trend is set to continue with more sailings confirmed for 2015 to accommodate growth in both freight and private-vehicle traffic.”
In the April 2015 issue of The Business Magazine
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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MARCH 2015
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