Google’s shares took a tumble of up to 19 percent yesterday as company earnings failed to match expectations on Wall Street.

Bizarrely, some blamed the British market, Google’s second largest, for some of the drop. It seems a fall in ad revenues, due (surprisingly) to the Christmas holidays, resulted in Google paying more tax to the British Exchequer. Since Google pays low tax across Europe from its Irish base, it seems a strange excuse.

Yahoo News reports: “SAN FRANCISCO (Reuters) - Shares of Google fell as much as 19 percent on Tuesday after the Web search company missed Wall Street profit targets for the first time in its short but spectacular history, as disappointing British results led to higher-than-expected taxes.”

Maybe Larry should have a word with Gordon Brown.