Why we need to crack down on the multinationals

Attention is turning to cash-rich multinationals which are avoiding paying taxes. And that's no bad thing.

The big story this weekend? Tax. And how the biggest companies in the UK aren't paying much of it. The Observer went big on the "scandal of the water giants that pay no tax on profits" thanks to their "byzantine structure of private equity financing".

The Mail on Sunday had a go at Nissan for selling "UK cars via Switzerland as a tax ruse", something that is particularly rude given how many tens of billions we have bunged it in bribes to manufacture here.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.