Discussion in 'Current Affairs, News and Analysis' started by happybonzo, Feb 11, 2011.
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To us, it's an obscure shift of tax law. To the City, it's the heist of the century
Fixed that for you!!!!
Remember that they are the Conservatives, so most of the fekers are old Etonians etc, and they will ALWAYS look after themselves ahead of the country they are supposed to love and care about. Labour of course are the other way, but fkukin useless. So whichever way you look at it, we're****ed and so is the country.
It is almost breath taking the nerve they have to pass a law such as this.
Dare I suggest that if our corporation tax wasn't so high there would be no incentive to move your business overseas.
The law is being changed to be the same as Switzerland - heaven forbid that we would want to be like them!
'We' might, but Dave and his pals don't and they are pulling the strings.
Oh! Good. Some gigantic tax earners may be minded to stay. In which case their tax contribution can help pay for:
Sadly, it appears that Diageo, a giant on the world stage, has had enough of Vince 'Hindsight Rules OK' Cable and his Marxist views on business and taxation.
So unfortunate. Still the shortfall of Diageos' taxes will only affect the NHS; Education and most of all Defence - the fvcking unemployed and unemployable will still enjoy their BENEFITS and their alchool and fags and trips to Spain and free accommodation and free education and free health services and free police services and free transport and free every bloody thing - whilst those that work, even those who are the poorest paid, will continue to pay for the skiving, fat-bellied, lager swilling, shaven-headed, tattooed, illiterate, innumerate, free-loading, untermensch rubbish!
Yes! I do know what I have just posted - and I mean every word of it!
Indeed. By lowering corporation tax you encourage businesses to invest over here, rather than upping sticks and buggering off to a country that isn't so infested with Guardianista thinking.
I didn't bother reading the article anyway - one look at the byline (George Moonbat) was enough. The man really should be deported to Cuba and made to live in the sort of society he craves.
WRONG. By allowing banks to pay zero tax on profits from our savings being invested abroad you encourage, nay practically compel them to suck money out of the British economy, denying growing British businesses capital, because if they invest here they'll have to pay tax, cutting into their profitability. So all the pay you have apparently sitting in your current account will be funding new factories in China, or mines in South Africa, whilst British firm go to the wall. The only return this country will see is if you get hired as a security guard on the palace the bank boss has bought with his fatter than ever bonus.
But it's fair enough. You look after your mates. When a Conservative government is elected their Old Etonian schoolmates and the other millionaires who live near them.
more loopholes for avoidance will be found by there uber expensive lawyers,no doubt.
I believe this idea is not new. The 'Bushies' did it in the US during the first term
It was a dig at the Gruandian's automatic spell checker - and yes, I do believe that we are totally f**ked
And you think Neue Arbeit was any different? you dont think that businessmen contributing to the liarbour coffers werent richly rewarded in any way?
As an aside I worked in Ireland in the years of the 'Celtic Tiger' massive injections of cash from the EU and the Irish government had reduced Corporation tax for 'new businesses' I cant remember the exact figures but 17% comes to mind for some reason and 7 years was, I think, the reduced tax term.... come the end of 7 years Corporation tax shoots back up and all the companies pull out lock stock and barrel for cheaper shores... I think half the big businesses around cork such as Ely Lilly and Pfizer who built large new factories near Cork have now upped and left.
If I was a chancellor of the exchequer I would rather be getting 17% of these companies millions of euros of profit each year than 28% of nothing cos they have fecked off where its far far cheaper to build and hire workers*
*My figures may be totally wrong as I cant be asked to look it up, but you probably get the gist!
In my opinion a company which earns money abroad and pays the local taxes in whichever country it earns that money shouldnt be forced to pay a 'top up' tax if that money then comes back into the UK. All that would encourage is to not bring the money back into the UK invest it and spend it abroad instead, let other nations benefit from that spending power and feck the UK and its greedy government (and its population)!
So you didn't even read what the scheme is then! This proposal reduces the amount of tax paid when the companies bring the money back to the UK. If corporation taxes were reduced to the level to the other country concerned then there would be no incentive for UK businesses to move their accounts there. That is how Ireland has managed to keep its head just above water despite the mind-boggling stupidity of their banks and government. If you have a low tax regime business migrates to you and overall tax returns increase, not to mention all the other benefits of employment, improved balance of payments etc.
This is bowing to the inevitable. Britain has the fourth highest rate of corporate taxation in the developed world. We're already seeing unprecedented rates of company relocation. Even the lefty Guardian is now technically owned by some entity based in the Caribbean. The Grun paid no tax at all the last time they turned a profit.
Lefties' expectation that multinational companies will bail out the economy by making massive, voluntary, additional tax payments that they don't have to is breath taking in its naivete, and it goes all the way to the top of the Labour party. Gordon Brown achieved what Margaret Thatcher, Jim Callaghan and Michael Foot never could. By introducing carbon credits he drove the steel industry out of the north east of England and into the South West of India. Well done there Gordon.
The big earners for the treasury are the banks. If they bail out to Dubai, New York or Hong Kong we'll have an extra £200 billion a year to add to our deficit. That's a third of government income. What kind of cuts would we be facing then?
OECD Data on Corporation tax rates by nation.
Those economic powerhouses, Turkey, Greece, Italy and Postugal all have much lower rates of corporation tax than we do while those lagards in Germany have higher.
A_M's point about the Treasury's dependance on the financial sector is well taken, but surely that's no argument to try to frantically prop up such an appalling imbalance in our economy at the expense of the very small and medium-sized businesses that can't hold us to ransom with threats of moving tax-take abroad or outsourcing employment.
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