Private equity is draining British business dry | Nicholas Shaxson

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‘Levelling up’ won’t work if companies are asset stripped and profits spirited out of communities, says author Nicholas Shaxson

After a period of drought, a flood of investment might not seem like such a bad thing. But the financial tools employed by private equity firms may harm overall prosperity, and the losses are unlikely to be shared equally – demographically or geographically. The Conservative government’s plans to “level up” left-behind communities will not succeed if the businesses that power those communities are stripped of assets, their profits funnelled to City managers or hidden in tax havens.

 

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Britain is heading down a very dangerous path. It does not usually end up well for most people... Not at all

Alternate theory: Brits are very aware of the problems us Aussies have and want to distance themselves from anything that might support Scott Morrison, as such Morrisons shops are suffering.

I'm speechless seeing myself having my first paycheck after I have been screwed so many times, may God Almighty 🙏 bless you and your team Lisattownnsend

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