One year later: it's been a year since leading buyout bosses were grilled by the Treasury Select Committee about concerns over secrecy and tax. Twelve months on, what has private equity learnt?

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One year later: it's been a year since leading buyout bosses were grilled by the Treasury Select Committee about concerns over secrecy and tax. Twelve months on, what has private equity learnt?(NEWS ANALYSIS)

Publication: European Venture Capital Journal
Publication Date: 01-JUN-08

Format: Online
Delivery: Immediate Online Access

Article Excerpt
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This time last year complaints about private equity from trade unions, the media and some politicians were at their height. The negative PR had been triggered by buyout houses' growing dominance in the economy and accusations of harassment and anti-labour practices...

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...at private equity-owned companies like the AA and NCP.

Buyout firms were also accused of being too secretive, of using excessive leverage to asset-strip businesses and of paying too little tax. As a result, MPs on the Treasury Select Committee launched an inquiry and required bosses of the top buyout houses to appear before them and be questioned about their tax stares and business practices.

Among the consequences of the controversy was the...

NOTE: All illustrations and photos have been removed from this article.

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