Is the game up for the tax avoidance industry? At a time when government revenues face myriad threats, speculating about the health of the tax avoidance industry might seem absurd.

But the aggressive schemes being dreamed up by the avoidance industry are triggering an increasingly aggressive reaction from the government. "Our objective is clear and the time has come to close this activity down permanently," said Dawn Primarolo, paymaster general in December 2004.