Richard Tice claims the ‘establishment is trying to smear’ his multi-million pound property empire

Deputy leader of Reform Richard Tice has claimed that reports his property empire avoided almost £600,000 in tax is “a desperate Establishment trying to smear” him. Of course, exploiting rent from people’s need for housing with net property assets of over £30 million is entirely anti-establishment and doesn’t epitomise the housing crisis the country is facing.

Tice chats shit

According to the Times, Tice channelled shareholder dividends into an offshore trust and dormant businesses. Doing so, he reportedly avoided hundreds of thousands in tax from the majority of 2018 to 2021. And that’s on multi-million pound profits.

Apparently, a thriving member of the rentier neoliberal capitalist class who treats the essential of housing as an asset is going to help struggling Britons with the cost of living.

Tice recently said:

The cost of living is the number one concern of everybody, and everything that this Government does is just adding to costs for businesses, and they have to pass it on to consumers.

Labour has added ‘costs’ to businesses. But the issue with the government’s rise in employer National Insurance Contributions (NICs) is that they were flat rather than progressive. Labour’s business tax rise impacted less profitable small and medium size outfits. Whereas, highly profitable businesses can afford to pay more in tax to address inflation (through reducing available pounds – the main function of tax).

For example, private equity and venture capital UK firms make as much profit as £5,206,406 per employee. Meanwhile, real estate – like the company Tice owns – is the most profitable overall industry in the UK.

Instead, housing design, location and features should be provided at cost price by the state with that amount paid off in monthly installments. It should be a not for profit industry.

Featured image via the Canary