Meet Lord Lawson's Shy Climate Denial Funders – Micheal Hintze

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BY HELEN NIANIAS

Sir Michael Hintze, anย Australian-born hedge fund manager and Tory party donor, may manage firms that turn over hundreds of millions of pounds a year, but he is pretty good at getting away with only paying a little light tax to HMRC.ย 

Hintze, who Forbes reckon is worth $1.8 billion (ยฃ1.1 billion), manages a variety of firms under QCS, a global multi-strategy, asset-management company, but tax arrangements in the Channel Islands, Cayman Islands and Luxembourg mean that heโ€™s largely unbothered by paying his fairย share.ย 

QCS Management Limited, for example, turned over ยฃ78.5 million in 2011, but got away with paying a puny ยฃ6,192 in corporation tax thatย year.ย 

One of CQSโ€™s funds, ABS, which dealt in the murky subprime mortgage market that lead to the financial collapse in 2008, made huge returns during the credit crisis by adopting what the Financial Times described as โ€œbearish positions designed to profit from a collapse in the US mortgage marketโ€.ย 

Hintzeโ€™s fund returned 179% on its clientsโ€™ capital from June 2007โ€“June 2009, when many firms were suffering and global unemployment spiralled.ย Hintze was knighted in 2013 thanks to โ€œservices to the artsโ€, but that was met with raised eyebrows from someย quarters.ย 

For one, he has been a very generous donor to the Tory party since 2005, lending a total of ยฃ2.5 million; this year he managed to outdo himself by giving ยฃ1.5 million outright to Cameronโ€™sย party.ย 

Hintze and his wife, Dorothy, were entertained by David Cameron as a special โ€œthank youโ€ for his support.ย ย 

Hintze also has superb Royal connections from his role as the chairman of Prince Charlesโ€™s Foundation for the Built Environment, and Michael Fawcett, Charlesโ€™s former aide, even threw a lavish 55th birthday party for Hintze in 2008.ย So maybe that knighthood didnโ€™t come as a total surprise,ย then.

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