Wednesday, August 23, 2017

Global capitalist rakes it in

One well known scrounger member of the parasitic capitalist class who owns a golf course and hotel in Scotland has had a windfall thanks to  a measure supposed to help struggling businesses. Donald Trump’s luxury hotel in Turnberry has been handed a £110,000 tax rebate by Scottish ministers as part of an emergency bailout intended to help struggling small businesses.

Figures reveal that the Trump Turnberry hotel on the coast of Ayrshire, where suites cost up to £815 a night, had its property tax cut by £109,530 as a result of the measure. That led to a 13.5% reduction in its normal annual business rates bill of £811,850.

The Scottish rebate was announced in February after hoteliers and restaurant owners complained about a rise in property taxes of up to 400% that came into force this year. The complaints were most intense in north-east Scotland, a region hit hard by a slump in oil prices.

Only available to firms in the hospitality sector, the rebate was put into effect Scotland-wide, and included companies making profits or those unaffected by the economic downturn.
Never one to be bashful the US president boasted earlier this year that Turnberry and its championship golf courses were doing “unbelievably” well because the value of sterling had fallen since the Brexit vote in June 2016.
The resort’s general manager, Ralph Porciani, told newspapers in January he was expecting bumper profits for 2016 and 2017, with revenues likely to be up to 20% higher than the £16m Turnberry earned in 2007. Turnberry increased its golf club membership fees by 38%, to £2,500 a year, after its courses were upgraded.
“From the business we have on the books so far, the pace is telling me the Trump Turnberry will have its best year of revenue in 100 years,” Porciani said. Previously the resort had been closed for refurbishment.

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