UK’s Former Deputy PM, ‘Cleared’ in Malta Tax Row, Eyes Political Comeback

Strolling along the bustling Republic Street in Valletta, one might not immediately think of high-stakes political drama. Yet, the heart of Malta’s capital has been abuzz with whispers of a major political comeback, following the news that UK’s former Deputy Prime Minister, Nick Clegg, has been ‘cleared’ of any wrongdoing in a tax affair linked to the island nation.

From Westminster to Valletta: Clegg’s Maltese Connections

Nick Clegg, once a key figure in the UK’s Conservative-Liberal Democrat coalition, has been keeping a low profile since his party’s electoral defeat in 2015. But Malta, it seems, has been on his radar. In 2018, Clegg was named as a director of a Maltese company, Somers Limited, which has been at the center of a tax avoidance controversy. The company, owned by the wealthy Tanti family, was accused of using Maltese structures to avoid paying UK taxes.

Clegg’s involvement raised eyebrows, given his prominent role in UK politics and his public stance against tax avoidance. However, the former deputy PM has maintained that he was acting in a personal capacity and was not involved in the company’s day-to-day operations.

Malta’s Tax Affairs: A Thorny Issue

Malta’s tax regime has been a contentious issue in recent years, with the EU and other international bodies scrutinizing the island’s corporate tax incentives. The ‘Maltese passport’ scheme, which offered EU citizenship in exchange for a significant investment, was also heavily criticized and eventually scrapped.

Clegg’s case, however, appears to have been resolved. The UK’s HM Revenue and Customs (HMRC) has reportedly ‘closed’ its investigation into Somers Limited, clearing Clegg and the company of any wrongdoing. This development paves the way for Clegg to potentially re-enter UK politics, with some speculating that he could run for the Liberal Democrats’ leadership or even stand in the next general election.

: Clegg’s Political Future

Back in Malta, the news of Clegg’s clearance has sparked speculation about his potential role in the island’s political scene. While Clegg has not expressed any interest in Maltese politics, his connections to the Tanti family and his experience in UK politics could make him an interesting addition to the local scene.

For now, though, all eyes are on the UK. With the Liberal Democrats looking to rebuild after a string of electoral losses, Clegg’s return to frontline politics could be just the boost the party needs. Whether he chooses to run for leadership or stand as an MP, one thing is certain: Nick Clegg’s political career is far from over.