The Price of [Market] Freedom

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This week's FT Weekend carries the leader: 'The Mixed Success of Furlough Schemes', referring of course to our adoption during the pandemic of what is essentially a US phenomenon. It makes no mention of the Dark Money alluded to in the same organ a few weeks ago (FT Magazine July 31st/August 1st), referring to the substantial funding contributed to the Tory party by prominent business people; apparently, largely in return for the ear of the significant within the circles of power.

By contrast, I read a piece via openDemocracy today, reporting that the furlough scheme has been defrauded, mentioning one company's activities in particular: KAU Media Group; a marketing outfit with no relevant experience or skills-base, who were awarded two PPE contracts last year, each of around £20M. Despite the firm's employees being furloughed under the then new scheme, they were expected under duress to continue full-time working as normal, on 80% pay.

This is just racketeering. If we were on a war footing, these people would be subject to the death penalty - now they're simply waved on by our NonGovernment® to do as they please, ably assisted by HMRC's rather flaccid approach to company reporting, the bottom line of which is, as long as your returns are timely, no-one will notice what you file and for what reason. This lot (one man and his wife, in fact), set up a shell company off the back of the first £20M contract (whence did that come one wondereth?) and placed £10.1M in its coffers, only to liquidate said company a few weeks later (check out MKEDO Ltd on Companies House), for them to trouser the cash with impunity. This has also been subject to an investigation by The Times, so it ain't just left-wing speculation here, folks. I'll leave you to ponder, but do check out the openDemocracy piece (and maybe sign the petition) and do some digging around for yourself...

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