Wednesday 7 December 2016

James Downey: Google chief Schmidt pushing all the wrong buttons

Published 22/12/2012 | 17:00

ERIC Schmidt, chairman of Google, has declared himself proud of his company's ability to avoid paying colossal sums in tax. "That's capitalism," he tells us.

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Mr Schmidt's practices are far from rare. Massive avoidance schemes are common in some of the best-run countries. They are designed by very clever people. And they're perfectly legal, unlike the criminal offence of tax evasion.

But they're not capitalism. Not necessarily, anyway.

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