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Sark and the Barclays Brothers
international |
rights, freedoms and repression |
opinion/analysis
Friday June 29, 2012 12:08 by Indyjourno
Sark is a tiny island, with a population of around 600 people of the coast off the coast of Normandy which operated a feudal system of government until 2008 when it was forced to comply with the EU convention of human rights. It is held as a fief on behalf of the Queen of England and while it is a part of Britain it is not part of the UK and sets its own tax rates which is set at an extremely low rate. Most people would never have heard of Sark until it recently made the news headlines in Britain due to the bizarre practices of the two Barclays brothers David and Frederick who live in the nearby island of Brecqhou and are seeking political independence from, and corporate dominance of, the island of Sark. The reason they are seeking independence from Sark are largely due to the brothers demanding that they be exempt from any tax legislation that Sark implements. The brothers even had a memorandum of understanding drafted, which Stark rejected, which had asked that Sark not "impose or seek to impose any other or any new taxes, charges, licence fees or fiscal measures of whatsoever kind upon Brecqhou". The brothers currently pay less than £30,000 Tax on the island. The Barclay brothers are estimated to be worth £1.8 billion. |