There are two excellent articles on the pure stupidity of those campaigning against Barclays not paying much tax in 2009; enought that I won't write the details here.
Instead, just to say that the Left's pernicious attack on the big tax paying, people employing, successful businesses is going to go very badly. Firstly, Chukka Ummana is blowing a lot of future contibutions to the Labour party. People won't forget the crazy theatrical grandstanding and they won;t forget who fomented it. One thing for the Marxist unions, another for the Opposition party.
Secondly, what is the ultimate purpose of these protests. People and companies are not going to pay taxes they don't owe. If anything, they might just give up the ghost and leave the UK altogether, taking the jobs with them to places more fixated on the rule of law.
Finally, we do have a Byzantinely complicated tax system. The Accountants and Lawyers are very happy about this as it helps them to advise their clients in expensive and long-winded tomes. Whose silly idea was it to make a really complicated tax system that the wealthy can use for legitimate tax avoidance? Oh yes, it was Gordon Brown.
Where are the protests against him...I think a sit in in his constituency office would be most amusing!
4 comments:
Straight off the bat Labour are gonna get 30%. There's work to be done
I had better get my loot out to Singapore then before George undoes all Gordon's handiwork.
Secondly, what is the ultimate purpose of these protests. People and companies are not going to pay taxes they don't owe. If anything, they might just give up the ghost and leave the UK altogether, taking the jobs with them to places more fixated on the rule of law.
Very true but within Europe, the places to go are becoming more limited for "foreign" companies, despite or maybe because of the EU. Depends if you're after a tax haven or not.
James no it does not, plenty of countries across Europe have lower corporate tax rates than the UK - starting with Ireland at 12.5%.
Don't fall into the leftist idea that companies want to pay no tax at all - they just want efficiency and to pay the right premium for the Host country. The UK is out of kilter now and it is showing.
Post a Comment