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Hargreaves pans ‘idiot’ Clegg over rich tax

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06/09/2012
Peter Hargreaves has criticised ministers for failing to shore up the economy, and omitting to "look in their own backyard" for solutions to the problem.
Hargreaves pans ‘idiot’ Clegg over rich tax

The Hargreaves Lansdown co-founder said the public sector consisted of people working “flexi-time” and “going sick”, and would be better off if “90% of the top 10%” was stripped out.

“The economy is knackered and the problem is government expenditure,” Hargreaves said in an interview with The Sun. “You get that idiot Nick Clegg talking about a tax on the rich. He has probably got five staff who do [nothing].

“The public sector is all flexi-time and people going sick. The working man knows the problem. His neighbour works for the council and goes in three days a week.

“He knows he’s paid well as he’s got a nice car, goes on nice holidays. Why would you work hard yourself?

“The people in government are too obsessed about getting re-elected. They don’t realise running the country means tackling some problems.

“They should take out 90% of the top 10%. We’ve got more generals than the US army – and more admirals than ships.”

Hargreaves said prime minister David Cameron’s first Cabinet reshuffle, unveiled earlier this week, amounted to “one bunch of muppets exchanged for another bunch of muppets,” according to the Evening Standard.

The executive started wealth manager Hargreaves with Stephen Lansdown in 1981. The group yesterday reported full-year profits of £152.8m, a 21% rise year-on-year.

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