Public Enquiry into Ineos £134 Million Taxpayer bailout

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Public Enquiry into Ineos £134 Million Taxpayer bailout

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Ineos, one of the world's largest manufacturers of chemicals and oil products, with sales of $45 billion, who in 2010 moved their HQ to Switzerland for the purpose of avoiding UK tax, could be provided with a government bailout totalling £134 million in the form of infrastructure loans and grants from the Scottish government to secure the future production at Grangemouth.
We call upon both governments to launch an urgent investigation into the financial arrangements of this company including how it reports its financial situation and if it complies with UK tax law on the profits it makes in the UK. We urge for the government to set up an urgent public enquiry into the situation and for the investigation findings to be reported back to the committee holding the public enquiry before any loans or grants are awarded, as to ensure the taxpayers money is being properly accounted for in these austere times.

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