F1 to join the ‘roll of shame’ in England

Kevin Eason reported F1 "could now join a roll of shame that includes Starbucks and Google, who have been targets for the anger of politicians."

British PM David Cameron "is waging a campaign against corporate tax avoiders while the Organization for Economic Co-operation and Development is also pushing countries to update their tax laws to pull companies into line."

Although these fresh revelations "will damage F1’s standing at a time when anger is growing at multinationals that deliberately avoid paying tax, it could perversely attract investors looking for smart ways to spend their money on highly profitable businesses with very low tax liabilities."

It remains to be seen whether British motorsport "will also suffer embarrassment from the revelations." The government "has latched onto F1 and motor sport as a world leader in technology with a raft of proposals to develop the industry and push export growth."

It is estimated that 3,500 businesses employing about 40,000 people generate motorsport sales worth £7B ($10.8B). London Times