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Swraj PaulBritish business tycoon, philanthropist and Labor politician originally from India
Date of Birth: 18.02.1931
Country:  Great Britain |
Content:
- Early Life and Education
- Business Career
- Political Career
- Personal Life and Philanthropy
- Expenses Scandal and Tax Status
Early Life and Education
Swaraj Paul was born in Jalandhar, Punjab, India, on February 18, 1931. His father owned a small foundry that manufactured steel buckets and agricultural implements. Paul attended Forman Christian College in Lahore, Pakistan, before earning a master's degree in mechanical engineering from the Massachusetts Institute of Technology (MIT) in the United States.
Business Career
In 1966, Paul moved to the United Kingdom, where his young daughter was undergoing treatment for leukemia. After spending a year caring for his daughter, he founded Natural Gas Tubes, a company that initially focused on steel fabrication but later expanded into various other industries. In 1968, he established the Caparo Group, which became one of the leading manufacturers of welded and spiral steel tubes in the United Kingdom. He eventually stepped down as CEO of the Caparo Group in 1996, handing over the reins to his younger son, Angad.
Political Career
Paul was made a life peer in 1996, taking his seat in the House of Lords as Baron Paul. In December 2008, he was appointed Deputy Speaker of the House of Lords. However, in October 2009, he was appointed to the Privy Council and shortly thereafter was forced to resign from his position due to allegations of financial improprieties in the context of the United Kingdom parliamentary expenses scandal.
Personal Life and Philanthropy
Paul, who is ranked as 88th on the Sunday Times rich list, claims to "live like everybody else" in London, where he uses public transport. Since the 1960s, he has resided on Portland Place, opposite the BBC headquarters in central London. Paul and his family own a dozen apartments worth around £1 million each, as well as a 250-acre estate in Buckinghamshire.
Expenses Scandal and Tax Status
Following the UK parliamentary expenses scandal, the Sunday Times reported in October 2009 that Paul had failed to adequately account for £38,000 of expenses, including claiming £3,000 to stay overnight in his designated second home when he had not even visited it. He was forced to step down as Deputy Speaker of the House of Lords and said he was considering renouncing his peerage. Paul could have faced criminal charges, but the police decided not to pursue the investigation after the House of Lords changed its rules to allow members to "designate a property as their main home, even if they only stay there once a month." On October 18, 2010, the House of Lords Committee for Privileges and Conduct published its report, recommending that Lord Paul, along with Baroness Uddin and Lord Bhatia, should withdraw from Parliament and repay the disputed expenses. Paul was found to owe a total of £41,982. Following this, Paul resigned from the Labour Party.
Paul has been resident in the UK on a non-domiciled basis, which significantly reduces the maximum rate of tax he pays. This tax arrangement has been particularly beneficial given the extensive property interests he holds. On March 9, 2010, Paul announced that he was relinquishing his non-dom status. Paul has previously stated that the problems in the business world are because of "greed coupled with an abdication of personal responsibility." He has called for high standards of accountability and transparency in both political and business life. He is said to have a close relationship with Gordon Brown and his wife, Sarah Brown.
