Business quote of the day: “I am very proud of the [tax] structure that we set up.”

“I am very proud of the [tax] structure that we set up.”                     

Eric Schmidt, chairman of the internet giant Google, defended his company’s record on tax, saying “it’s called capitalism.” In an interview in New York, Schmidt said he had no intention of copying Starbucks and making any extra tax payments to the Exchequer, after facing criticism for only paying £6m in corporation tax last year.

 

Helen Roxburgh is the online editor of Economia

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Sarah Champion wants to un-resign and join Jeremy Corbyn's shadow cabinet again

The MP is understood to have emailed asking for her job back. 

Sarah Champion, MP for Rotherham, is to rejoin the shadow cabinet less than a month after her dramatic resignation. 

On 28 June, in the aftermath of Brexit, she tweeted: "I have just stepped down from my shadow minister job, but not my responsibilities to my constituents, party or victims of abuse."

Now, she has reportedly emailed Jeremy Corbyn's team to request an un-resignation from her position as shadow minister for preventing abuse. 

According to the Guido Fawkes blog, she wrote: "I would like to formally retract my resignation and ask to be reinstated to my role as Shadow Home Office minister for preventing abuse and domestic violence with immediate effect."

Unsurprisingly, perhaps, given their staffing issues on the shadow cabinet, the Corbyn team is understood to be welcoming her back. 

Shadow chancellor John McDonnell has repeatedly urged ex-shadow cabinet MPs to come back. On 1 July he said: "Wouldn't it be better if people came back and worked with us?"

And on Sunday, he alarmed weekend TV viewers by turning straight to camera and telling the nation: "We've got to stop this now."