Martin Taylor (Financier)
Martin Taylor is a hedge fund manager at Nevsky Capital LLP.
He is also a donor to the British Labour Party.
Contents
Career
Taylor began work as an auditor with Coopers & Lybrand in 1991 where he qualified as a chartered accountant in 1994. In that same year he joined Baring Asset Management, where he managed the Eastern Europe and emerging Europe trust funds. He moved to Thames River Capital in 2000, managing the global emerging markets fund.[1]
He joined Nevsky Capital LLP in January 2007.[2]
NHS
Taylor stands to receive a large amount of cash from the privatisation of NHS services. The hedge fund manager managed a fund with a £10 million stake in United Health, an American private healthcare giant which has run NHS-funded GP surgeries and is bidding for health service contracts.[3]
Politics
After pressure was placed on the Labour leader Ed Miliband, he revealed Taylor's identity as a hedge fund manager. Labour had previously been reluctant to do so having criticised the Tories for being funded by rich bankers.[4]
Upon his identity being revealed, Taylor released a statement saying:
- 'This Martin Taylor is me. I am a born and bred Londoner, who also happens to be a hedge fund manager. And I am proud to support the Labour Party.
- "This may seem a bit odd to many people. It is commonly believed that everyone in the financial sector supports the Conservative Party, in a quest to pay ever lower levels of tax. So why do I support Labour? There are several reasons.
- 'Firstly, I believe very strongly that everyone should contribute to society and that those who are lucky enough to earn a lot should contribute more than others. This principle has become particularly important since the global financial crisis in 2008 threw Western economies into recession, reduced living standards and sparked a wave of cutbacks in government spending; cutbacks that have hit those with the least hardest. When times were good governments endeavoured to reduce taxes for everyone and also increase spending on health, education and the elderly.
- 'But now in harder times the current government has cut taxes for the richest by reducing the top rate of income tax from 50% to 45% while cutting spending elsewhere to fund it. This means damaging the most vulnerable in society - such as the disabled for instance, who have disproportionately suffered at the hands of the ‘bedroom tax’ - to directly benefit the better off. I believe this is not fair. Labour’s commitment to both reverse this tax cut for the wealthiest and abolish the bedroom tax will right this wrong.
- 'The NHS has suffered from enormous financial strain over the past few years and vital improvements, such as reducing GP waiting times, are needed (PA) The NHS has suffered from enormous financial strain over the past few years and vital improvements, such as reducing GP waiting times, are needed (PA)
- 'Secondly, I believe policies that will benefit society as a whole need to be properly funded. Labour will do this. Nothing better symbolises the common good than the NHS. It has suffered from enormous financial strain over the past few years and vital improvements, such as reducing GP waiting times, are needed.
- 'These do not come for free. That’s why I support Labour’s proposed ‘Mansion Tax’ which will be levied on the owners of houses worth more than £2 million.
- 'The owners of such houses have experienced a massive inflation adjusted tax cut over the last thirty years as their annual property taxes have fallen in real terms since local rates were abolished in the late 1980’s. These owners have also been the primary beneficiaries of the house price boom that has taken place since then. I therefore believe it is only fair that these lucky households (myself included) now pay a little bit more to help the NHS in its hour of need.
- 'The final reason I support Labour is my family history. My dad was a local Labour councillor in Lewisham, South East London for over thirty years and my mum rose to be the head teacher of a Comprehensive school. They taught me daily about fairness.
- 'That is why, as someone who is lucky enough to be paid very well for doing a job I love - and who has always been UK domiciled and fully pay UK tax on all of my income, whatever its source – it is natural for me to support the political Party and the party leader, in Ed Miliband, who are patently committed to this principle.'[5]
Donations
| Date | Name of donor | Amount | Donated to | Subsidiary (parties only) |
|---|---|---|---|---|
| 11/10/2012 | Martin Taylor | £100,000.00 | Labour Party | Central Party |
| 14/06/2013 | Martin Taylor | £98,000.00 | Labour Party | Central Party |
| 10/12/2013 | Martin Taylor | £95,000.00 | Labour Party | Central Party |
| 15/09/2014 | Martin Taylor | £4,200.00 | Labour Party | Greenwich and Woolwich CLP |
| 22/07/2014 | Martin Taylor | £81,000.00 | Labour Party | Central Party |
| 04/04/2014 | Martin Taylor | £112,000.00 | Labour Party | Central Party |
| 19/12/2014 | Martin Taylor | £101,000.00 | Labour Party | Central Party |
| 20/12/2014 | Martin Taylor | £600.00 | Labour Party | Greenwich and Woolwich CLP |
Education
- MA, History, Kings College, University of Cambridge[2]
Notes
- ↑ City Wire About Martin Taylor, accessed 24 March 2015
- ↑ 2.0 2.1 Trustnet Offshore Fact sheet, accessed 24 March 2015
- ↑ Tamara Cohen Revealed: Multi-millionaire hedge fund boss who gave £600,000 to Labour stands to cash in from privatisation of NHS services Daily Mail, 22 March 2015, accessed 24 March 2015
- ↑ Dylan Lobo Labour 'mystery' donor revealed as mansion tax supporting hedgie City Wire, 23 March 2015, accessed 24 March 2015
- ↑ The Huffington Post UK Hedge Fund Manager Martin Taylor Gave £600,000 To Labour - Because He Backs Spending, Taxation And Mansion Tax, 21 March 2015, accessed 24 March 2015
- ↑ Electoral Commission, Donation Search, accessed 24 March 2015
