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Monday, 22 November 2010

Cui Bono?

As it happens, I am not too fussed about the £7billion we are lending to Ireland. They are a small country and a dependent neighbour with whom we have many links and friendships.

But if there is a cause for celebration it is that the next time the sanctimonious U2 frontman comes calling to berate us about how little we do to help poorer countries, we can point out that while we put up a ten figure sum to help out his home country, he routes his royalties through the Netherlands to the Dutch Antilles because he finds the 5% cost of doing so preferable to the meagre 12.5% corporate tax rate he would have paid if he left them in Ireland.

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