Monday, January 1

Who Owns Britain ?

Has anyone noticed but the Spanish are buying up the Best of British with amazing ease. The reason being that Spanish corporate raiders can do this because they enjoy a massive tax advantage which the European Commission has ruled as illegal – but they are allowd to carry on anyway for the time being.
The present £12 billion Spanish bid for Scottish Power will, if successful, bring to £55bn the sum recently spent by Spanish firms on buying up very British concerns. These include BAA — once the British Airports Authority — which owns Heathrow, Gatwick and other airports (£11bn); Abbey, our fifth largest bank (£8.6bn); the mobile telephone giant O2 (£17.7bn); the operating company of three London Tube lines, the Waste Recycling Group, Bristol Water and many more.
So untill the EU inforces its own competion rules –manana – it is accurate to say that we are ruled by Brussels (badly) and owned (increasingly) by Madrid.

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