Who do you want to run the economy?

You may have had the pleasure of seeing Labour's election posters. "Who do you want to run the country?" showing a grinless Tony Blair and a similar poster "Who do you want running the economy?", again, you have the option of Gordon Brown or Oliver Letwin, apologies to Vince Cable of the Liberal Democrats but even Labour think the Liberal Democrats haven't a chance!!

However, what strikes me is that they have the wrong faces on the posters. There should be no faces on the posters as the real power is starting to move to the faceless wonders in the EU. For example, in UK tax law, a company can offset losses from one subsidiary against the profits of another - but only if both are inside the UK. Following a challenge by Marks & Spencers (M&S), the EU Advocate General, Miguel Poiares Maduro, announced on Thursday that M&S should be allowed to offset losses of foreign subsidiaries against the parent company's profit. This is totally contrary to UK tax law. If the opinion is approved by the European Court, and they normally follow the Advocate General's decision, then it could cost the UK Treasury (and other EU governments) billions in taxes. Naturally, such shortfalls would be made good by you and me!! At least you now know who is running the economy!!

For completeness, I tried to find a photo of Miguel, but was unsuccessful!!