Revenue law and semantics

Like the many advisers following the private equity hoo-haa merely in anticipation of the impending knee jerk butchery to the taper relief code, we have little direct contact with the venture capital industry and are in no position to pass informed comment on the smarts of the industry's leading lights.

Notwithstanding, one has to wonder over why none of the industry players, when being called upon in select committee to justify BATR, has seen fit to record that the private equity sector does not enact laws and the committee's questions would be better directed to those who do.

Although it's probably best not to ask Sion Simon MP, whose Oxbridge educated, pea-sized brain holds the distinction between income and capital to be "really irritating semantics". Revenue law and semantics. Who would have thought ?

For those unfamiliar with Mr Simon, a quick Google reveals a YouTube video which a concerned citizen has seen fit to re-up with a helpful tagline.