Business Services Industry
British Labour Party Official to Take Position with Goldman Sachs.
Knight Ridder/Tribune Business News, March, 2004
By Alex Brummer, Daily Mail, London Knight Ridder/Tribune Business News
Mar. 17--Chris Wales, the inventor of New Labour's stealth taxes, is leaving the Treasury to join the Goldman Sachs gravy train.
Wales, formerly a partner at disgraced audit firm Arthur Andersen, was responsible for preparing Labour's tax plans before the 1997 election. He canvassed the City on the idea of removing tax relief on dividends paid to pension funds. He also worked on the windfall tax on utilities.
He was recruited to the Treasury by financial fixer Geoffrey Robinson, the former Paymaster General.
The tax on pension funds, which raised UKpound 5 billion in its first year, is regarded as one of the most damaging taxes Brown introduced. City...
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