Letters
Threat to business
IN reply to Mike Collins (Penarth Times, May 1), if Tesco comes to the
Washington we might see more of a rout of local businesses than a
competition, and it is local businesses, including post offices, which both
give a community its identity and make a town like Penarth special.
Not only is Tesco already in a very powerful position as the largest single
private sector employer in Wales, but appears to have avoided payments to HM
Revenue and Customs since 2003 by means of complex limited partnership and
unit trust schemes based in Jersey.
Perhaps our MP might investigate whether similar devices to avoid tax have
been used by any business in Penarth.
If Tesco does plan to sell its Cogan store, will the deal be free of the 4%
Stamp Duty Land Tax because it is one of the 36 stores wrapped up in UK
limited partnerships, with Cayman Islands registered partners?
If more flats are built on that site will we be completely gridlocked?
Please would our AM explain why it is Assembly Policy to encourage the
building of dwellings with no parking, such as the planned apartments at the
Washington, when this results in more parking on our roads and more car
crime.
It seems naive to think that these residents will not run cars.
Although the loss to the Exchequer of the disposal by Tesco of £5bn of
property is likely to be nearer to £100m than the figure of up to £1bn,
which was originally projected, every little helps.
Margaret Phelps
Penarth
9:26am Thursday 8th May 2008
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