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    Labour's Corporation Tax Increase - why?

    It's been covered elsewhere but I think this is key to understanding Labour's attitude to the economy. So what is the logic behind it?

    And yes I know the usual suspects will find it boring and pointless, just like they found the other posts that easily attract interest and hundreds of responses. X)

    Top comments

    If you need to have it explained again then clearly you haven't listened the first few times and I'd expect that most HUKD Miscers realise this is just another I'm voting Tory and to hell with the rest of you thread

    But seriously even when they put up corporation tax we (the UK) will still be lower than most of the EU
    The Tories are anti Robin Hood robbing from the poor and giving to the rich
    They've continuously given tax breaks to big businesses and the wealthy and continually used austerity as a "selling point".
    Fact is the big corporations haven't invested in training/employment options and mainly used the "tax bonus" for their shareholders etc.
    Fact is the top 15% wealthiest people in the UK (if my memory/figure is correct) have all gained financially during austerity whilst the poorest have had to sleep rough, use food banks and charity to survive.

    Most Miscers know you don't care about others and will use any small issue to publicise that you are a selfish Tory voter and an "I'm alright Jack"

    It's OK you can respond but like every other reply you make o my comments I don't see them - you are and have been on my ignore list for months but you even don't comprehend that so how will you comprehend anything else

    I only see your thread titles and descriptions and it's always obvious by the way it reads but I can't block those....unfortunately

    philphil61

    If you need to have it explained again then clearly you haven't listened … If you need to have it explained again then clearly you haven't listened the first few times and I'd expect that most HUKD Miscers realise this is just another I'm voting Tory and to hell with the rest of you threadBut seriously even when they put up corporation tax we (the UK) will still be lower than most of the EUThe Tories are anti Robin Hood robbing from the poor and giving to the richThey've continuously given tax breaks to big businesses and the wealthy and continually used austerity as a "selling point". Fact is the big corporations haven't invested in training/employment options and mainly used the "tax bonus" for their shareholders etc.Fact is the top 15% wealthiest people in the UK (if my memory/figure is correct) have all gained financially during austerity whilst the poorest have had to sleep rough, use food banks and charity to survive.Most Miscers know you don't care about others and will use any small issue to publicise that you are a selfish Tory voter and an "I'm alright Jack" It's OK you can respond but like every other reply you make o my comments I don't see them - you are and have been on my ignore list for months but you even don't comprehend that so how will you comprehend anything elseI only see your thread titles and descriptions and it's always obvious by the way it reads but I can't block those....unfortunately



    Have we hit bingo yet, Phil?

    http://myfreebingocards.com/bingo-card-generator/results?not-random=1&img=1&title=HEAWD%27s+GENERAL+ELECTION+BINGO&words=Deficit%0D%0ADebt%0D%0AIRA%0D%0ATax+receipts%0D%0AAutomation%0D%0AThe+next+generation+need+me%0D%0AAsks+question%0D%0ANever+answers+questions%0D%0AYou%27re+all+idiots+and+HEAWD+isn%27t&theme=classic&size=0&per-page=2&free-space-text=FREE+SPACE&s=1

    HotEnglishAndWelshDeals

    And raising the level of corporation tax will definitely increase takings?



    IFS has predicted that it would raise £19bn or so until 2020. Besides it's not a flat rate corporation tax it is more of a progressive tax hike favouring smaller business.Small companies 21%, big 26%. Bearing in mind that this percentage is far less than what a teacher of over 20 years of contributing to society would pay in tax.

    Most of this money generated is earmarked towards education ensuring class sizes do not rise more than 30. And that the competitiveness of our graduates would increase. Most of the jobs being lost be it in US or UK is due to automation and AI. Therefore, when Trump promises to bring jobs back to America he talking about literally taking America back to stone ages to focus only on outdated energy generation. BY focusing on education, you would be able to offset challenges created by AI and automation through innovation. The fact that the World is moving more towards universal living wage is due to this same phenomenon in changing job market.

    Also, do not get confused by simplifying that tax is the only variable that attracts investment. Other variables such as business infrastructure, access to talent/skills etc are also extremely important to entice a firm to stay in the UK. In this regard, the tax would not have that much of an impact in capital flight as much as passporting rights for financial institutions and access to talent (or lack of it in the UK) for technology companies.

    Whether you are a worker or an entrepreneur, you have to decide whether you believe in a fair economy or in an economy that believes in selfish trickle down economics as the conservatives do.

    Having said this everyone is selfish and protects its own wealth. Older people tend to be more conservatives due to them having accumulated more wealth and therefore they are more protective of their wealth. This creates a strange phenomenon in a democracy where future policies are being decided by old people looking for instant gratification. If only young voters weren't as lazy.

    I have obviously generalised my comments about the demographical implications but they are largely true and obviously, there are exceptions. There are definitely very nice people in this world. Few and far between though, a dying breed indeed.

    Every time in recent history that Corporation Tax has risen the nett take has fallen - Fact 1 . Every time that it has fallen the nett take has risen- Fact 2 . Result no money to pay for their Xmas list of manifesto giveaways.

    In answer to your original question . Promising to soak the rich and the big companies in order to "fund" election bribes is always popular with the Labour rank and file who wouldn't understand a sensible economic policy if it bit them in the backside .
    67 Comments

    what cuts are you referring too?

    Original Poster

    bluecityste

    what cuts are you referring too?



    Meant increase and not tax. Really stupid mistake on my part - as if Labour would cut a tax rate.

    That makes more sense then. They have often cut taxes in the past. Obviously they don't plan too at the moment seeing as they are already at record lows (atleast in modern terms).

    because money doesn't grow on trees . need to raise funds somehow to pay for the budget .

    If you need to have it explained again then clearly you haven't listened the first few times and I'd expect that most HUKD Miscers realise this is just another I'm voting Tory and to hell with the rest of you thread

    But seriously even when they put up corporation tax we (the UK) will still be lower than most of the EU
    The Tories are anti Robin Hood robbing from the poor and giving to the rich
    They've continuously given tax breaks to big businesses and the wealthy and continually used austerity as a "selling point".
    Fact is the big corporations haven't invested in training/employment options and mainly used the "tax bonus" for their shareholders etc.
    Fact is the top 15% wealthiest people in the UK (if my memory/figure is correct) have all gained financially during austerity whilst the poorest have had to sleep rough, use food banks and charity to survive.

    Most Miscers know you don't care about others and will use any small issue to publicise that you are a selfish Tory voter and an "I'm alright Jack"

    It's OK you can respond but like every other reply you make o my comments I don't see them - you are and have been on my ignore list for months but you even don't comprehend that so how will you comprehend anything else

    I only see your thread titles and descriptions and it's always obvious by the way it reads but I can't block those....unfortunately

    Original Poster

    chrisom

    because money doesn't grow on trees . need to raise funds somehow to pay … because money doesn't grow on trees . need to raise funds somehow to pay for the budget .



    And raising the level of corporation tax will definitely increase takings?

    HotEnglishAndWelshDeals

    And raising the level of corporation tax will definitely increase takings?



    IFS has predicted that it would raise £19bn or so until 2020. Besides it's not a flat rate corporation tax it is more of a progressive tax hike favouring smaller business.Small companies 21%, big 26%. Bearing in mind that this percentage is far less than what a teacher of over 20 years of contributing to society would pay in tax.

    Most of this money generated is earmarked towards education ensuring class sizes do not rise more than 30. And that the competitiveness of our graduates would increase. Most of the jobs being lost be it in US or UK is due to automation and AI. Therefore, when Trump promises to bring jobs back to America he talking about literally taking America back to stone ages to focus only on outdated energy generation. BY focusing on education, you would be able to offset challenges created by AI and automation through innovation. The fact that the World is moving more towards universal living wage is due to this same phenomenon in changing job market.

    Also, do not get confused by simplifying that tax is the only variable that attracts investment. Other variables such as business infrastructure, access to talent/skills etc are also extremely important to entice a firm to stay in the UK. In this regard, the tax would not have that much of an impact in capital flight as much as passporting rights for financial institutions and access to talent (or lack of it in the UK) for technology companies.

    Whether you are a worker or an entrepreneur, you have to decide whether you believe in a fair economy or in an economy that believes in selfish trickle down economics as the conservatives do.

    Having said this everyone is selfish and protects its own wealth. Older people tend to be more conservatives due to them having accumulated more wealth and therefore they are more protective of their wealth. This creates a strange phenomenon in a democracy where future policies are being decided by old people looking for instant gratification. If only young voters weren't as lazy.

    I have obviously generalised my comments about the demographical implications but they are largely true and obviously, there are exceptions. There are definitely very nice people in this world. Few and far between though, a dying breed indeed.

    philphil61

    If you need to have it explained again then clearly you haven't listened … If you need to have it explained again then clearly you haven't listened the first few times and I'd expect that most HUKD Miscers realise this is just another I'm voting Tory and to hell with the rest of you threadBut seriously even when they put up corporation tax we (the UK) will still be lower than most of the EUThe Tories are anti Robin Hood robbing from the poor and giving to the richThey've continuously given tax breaks to big businesses and the wealthy and continually used austerity as a "selling point". Fact is the big corporations haven't invested in training/employment options and mainly used the "tax bonus" for their shareholders etc.Fact is the top 15% wealthiest people in the UK (if my memory/figure is correct) have all gained financially during austerity whilst the poorest have had to sleep rough, use food banks and charity to survive.Most Miscers know you don't care about others and will use any small issue to publicise that you are a selfish Tory voter and an "I'm alright Jack" It's OK you can respond but like every other reply you make o my comments I don't see them - you are and have been on my ignore list for months but you even don't comprehend that so how will you comprehend anything elseI only see your thread titles and descriptions and it's always obvious by the way it reads but I can't block those....unfortunately


    About sums it up

    http://www.taxresearch.org.uk/Blog/2017/05/10/why-corbyn-is-right-to-increase-corporation-tax/

    Found this to be an interesting read.

    Bang on the point tbh

    Take a look at this video on YouTube:

    youtu.be/LVl…JMQ

    Original Poster

    whorlow

    http://www.taxresearch.org.uk/Blog/2017/05/10/why-corbyn-is-right-to-increase-corporation-tax/Found this to be an interesting read.



    Interesting to read an opposing view but his failure to acknowledge that decreasing corporation tax has led to higher receipts is odd.

    He also references other countries tax rates but doesn't mention that countries like the USA, France and others are looking to cut their's with Macron in particular saying he's doing it in order to entice businesses operating in other EU countries (so the UK).

    Thanks for the link though.

    What I don't understand is that we are being punched in the face over and over again by the Tories and for some reason because they say it's good for us we are falling for it as a nation. Theresa May may be more popular but we are not Americans who look at celebrity status more than substance. I just don't get it at all why anyone would vote Tory.

    HotEnglishAndWelshDeals

    Interesting to read an opposing view but his failure to acknowledge that … Interesting to read an opposing view but his failure to acknowledge that decreasing corporation tax has led to higher receipts is odd. He also references other countries tax rates but doesn't mention that countries like the USA, France and others are looking to cut their's with Macron in particular saying he's doing it in order to entice businesses operating in other EU countries (so the UK).Thanks for the link though.



    It didn't fail to show anything. Its a quick summary and will be limited to the amount of information given.
    Macron is looking to reduce corporate tax to 25% whilst the USA is extremely high (averaged 38.9% last year). Both these countries have no interest in pursuing the levels shown potentially by the tories in this country.

    HotEnglishAndWelshDeals

    And raising the level of corporation tax will definitely increase takings?



    ​if you put up tax to 90% and you could then expect revenue takings to rise...wrong!

    Companies and high earners dislike tax as much as anyone and avoid or flee high tax regimes meaning that taxes at the lower end have to be raised...it is quite simple economics.


    IFS paper...
    Economic agents respond to a tax system by trying to maximise the trade-off between costs
    (i.e., paying tax) and benefits (i.e., social security, public goods, etc.). One way to reduce
    one’s tax liability is to engage in tax avoidance. In the words of Piketty and Saez, “[we] can
    define tax avoidance as changes in reported income due to changes in the form of compens-
    ation but not in the total level of compensation. Tax avoidance opportunities typically arise
    when taxpayers can shift part of their taxable income [...] [to receive] a more favourable tax
    treatment” (Piketty and Saez, 2013, p. 417).
    Modern tax systems are designed to redistribute amongst taxpayers and to reduce inequal-
    ity in society. Hence, the tax burden is much heavier for high-income earners, who therefore
    have an especially strong motive to try to contribute less by engaging in tax avoidance. Such
    taxpayers could well be mobile, and inter-jurisdiction mobility has proved to be an effective
    way to avoid taxes both in the case of labour and capital taxation. In this way, mobility
    becomes a means through which avoidance can be carried out. High-income earners are more
    likely to also have the opportunity to avoid taxes: their cost of moving is often smaller than for
    other agents, and the need for skilled labour has pushed many countries to compete through
    tax discounts to attract them

    Every time in recent history that Corporation Tax has risen the nett take has fallen - Fact 1 . Every time that it has fallen the nett take has risen- Fact 2 . Result no money to pay for their Xmas list of manifesto giveaways.

    In answer to your original question . Promising to soak the rich and the big companies in order to "fund" election bribes is always popular with the Labour rank and file who wouldn't understand a sensible economic policy if it bit them in the backside .

    rogparki

    Every time in recent history that Corporation Tax has risen the nett take … Every time in recent history that Corporation Tax has risen the nett take has fallen - Fact 1 . Every time that it has fallen the nett take has risen- Fact 2 . Result no money to pay for their Xmas list of manifesto giveaways. In answer to your original question . Promising to soak the rich and the big companies in order to "fund" election bribes is always popular with the Labour rank and file who wouldn't understand a sensible economic policy if it bit them in the backside .



    ​but it feels like it should work...so let Labour in again and when they go the Tories can then return and make grown up decisions!

    It was my understanding that decreasing corp tax was to combat the increasing employment costs due to rises of the minimum wage.

    Just remember why the Tories went in to austerity-Labours mis-management of money when in power. All these things they're promising have to come from somewhere, either in massive tax increases from corparations and/or the public-my guess is both.

    just another reason I will be closing my business if labour get into power.

    £10 minimum wage, another 4 paid bank holidays, increase in corporation tax etc will make it impossible for me to make money. I have two businesses and one of them which employees 6 staff will be closed at the end of the year of they get in power. I make more than enough money of my other business to which I am the only employee to not need the other.

    Well said Phil in post #5

    26% will still be the lowest Corp tax rate out of all the big Industrialised European powers... by a significant amount.

    It is still lower than the rate in 2010.

    If these corporations want to leave then they can move to Bulgaria where it is 10%. I'm sure they will flourish in Bulgaria X)

    you_gotta_be_kidding

    just another reason I will be closing my business if labour get into … just another reason I will be closing my business if labour get into power.£10 minimum wage, another 4 paid bank holidays, increase in corporation tax etc will make it impossible for me to make money. I have two businesses and one of them which employees 6 staff will be closed at the end of the year of they get in power. I make more than enough money of my other business to which I am the only employee to not need the other.



    As you appear to be a small business you need to read the labour manifesto in full and the guarantees they have made to small businesses.

    HotEnglishAndWelshDeals1 h, 22 m ago

    Interesting to read an opposing view but his failure to acknowledge that …Interesting to read an opposing view but his failure to acknowledge that decreasing corporation tax has led to higher receipts is odd. He also references other countries tax rates but doesn't mention that countries like the USA, France and others are looking to cut their's with Macron in particular saying he's doing it in order to entice businesses operating in other EU countries (so the UK).Thanks for the link though.


    Can you explain why decreasing the Corporation Tax rate has led to higher receipts. You repeat the mantra often enough but seem blissfully unaware as to why this has happened.

    philphil61

    If you need to have it explained again then clearly you haven't listened … If you need to have it explained again then clearly you haven't listened the first few times and I'd expect that most HUKD Miscers realise this is just another I'm voting Tory and to hell with the rest of you threadBut seriously even when they put up corporation tax we (the UK) will still be lower than most of the EUThe Tories are anti Robin Hood robbing from the poor and giving to the richThey've continuously given tax breaks to big businesses and the wealthy and continually used austerity as a "selling point". Fact is the big corporations haven't invested in training/employment options and mainly used the "tax bonus" for their shareholders etc.Fact is the top 15% wealthiest people in the UK (if my memory/figure is correct) have all gained financially during austerity whilst the poorest have had to sleep rough, use food banks and charity to survive.Most Miscers know you don't care about others and will use any small issue to publicise that you are a selfish Tory voter and an "I'm alright Jack" It's OK you can respond but like every other reply you make o my comments I don't see them - you are and have been on my ignore list for months but you even don't comprehend that so how will you comprehend anything elseI only see your thread titles and descriptions and it's always obvious by the way it reads but I can't block those....unfortunately



    \end thread.

    Give it a rest HEAWD everyone is sick of it, you deserve to be ignored.

    RonChew

    Can you explain why decreasing the Corporation Tax rate has led to higher … Can you explain why decreasing the Corporation Tax rate has led to higher receipts. You repeat the mantra often enough but seem blissfully unaware as to why this has happened.


    Because its a fact and is published regularly . Sadly Labour (and its supporters ) are unable to grasp the lessons of recent economic history , preferring to lure its following with false promises . If you Google UK Corporation Tax / Nett receipts it will be there , maybe Macdonald should also do that !
    Edited by: "rogparki" 3rd Jun

    Error4404 m ago

    \end thread.Give it a rest HEAWD everyone is sick of it, you deserve to be …\end thread.Give it a rest HEAWD everyone is sick of it, you deserve to be ignored.


    Have you tried the new mute feature? It makes things completely disappear!

    I do feel it is time for a moderater to step in and stop any user creating more than one 2017 election thread. It's almost guaranteed the OP will post another thread within 48 hours, it must be curtailed.

    rogparki3 m ago

    Because its a fact and is published regularly .


    I wasn't disputing that it was a fact. I just wanted to know why a decrease in rate led to an increase in yield. I mean, the way he goes on about it you'd think that if the Corporation Tax rate was reduced to 0% all the country's problems would be solved.

    RonChew

    Have you tried the new mute feature? It makes things completely disappear!



    I'm not on the new yet, i have the ignore button but i still see his stuff in others replies etc

    Firefly1

    I do feel it is time for a moderater to step in and stop any user … I do feel it is time for a moderater to step in and stop any user creating more than one 2017 election thread. It's almost guaranteed the OP will post another thread within 48 hours, it must be curtailed.



    Report it as spam

    26% will still be the lowest Corp tax rate out of all the big … 26% will still be the lowest Corp tax rate out of all the big Industrialised European powers... by a significant amount. It is still lower than the rate in 2010.



    I wasn't disputing that it was a fact. I just wanted to know why a … I wasn't disputing that it was a fact. I just wanted to know why a decrease in rate led to an increase in yield. I mean, the way he goes on about it you'd think that if the Corporation Tax rate was reduced to 0% all the country's problems would be solved.



    This is what I wrote a few days ago but generally provides an answer to your question.

    Understandably many believe Labours ideological rhetoric and economic forecast, sadly their policies aren't budgeted and coherent. Making pledges on increasing Corporation Tax up to 26% to fund additional spending on NHS staff, and increase Education budget is a glaring example of not understanding globalisation and economics. Many countries including Ireland, Luxembourg already exploit and manipulate tax loopholes and have a lower Corporation Tax to attract large multi-national companies, and associated employment and wealth it brings to the economy. Every attempt to block, or reduce the legal loopholes have met by political dilly dallying and fierce opposition by those countries that exploit the system. Although many multi-national companies with headquarters based in this country fail to pay little to no direct taxation, manipulating the system. As a consequence Labour’s policy of raising corporate tax will only further drive away large international corporations, which in turn reduce overall revenue.

    An additional but important amendment to this comment that also answers the plausible reason and positive effect of reducing Corporation Tax is that if you attract large multi-national companies it has the beneficial effect of -

    1. Reducing local unemployment and dependency on welfare benefit.
    2. Increasing government revenues through invisible, indirect taxation - i.e. VAT, PAYE etc.
    3. Knock-on effect of improving the local economy.
    4. Attracting other large Corporations, or multi-national companies.
    5. Additional investment and infrastructure.

    Edited by: "nemesiz" 3rd Jun

    nemesiz18 m ago

    This is what I wrote a few days ago but generally provides an answer to …This is what I wrote a few days ago but generally provides an answer to your question.Understandably many believe Labours ideological rhetoric and economic forecast, sadly their policies aren't budgeted and coherent. Making pledges on increasing Corporation Tax up to 26% to fund additional spending on NHS staff, and increase Education budget is a glaring example of not understanding globalisation and economics. Many countries including Ireland, Luxembourg already exploit and manipulate tax loopholes and have a lower Corporation Tax to attract large multi-national companies, and associated employment and wealth it brings to the economy. Every attempt to block, or reduce the legal loopholes have met by political dilly dallying and fierce opposition by those countries that exploit the system. Although many multi-national companies with headquarters based in this country fail to pay little to no direct taxation, manipulating the system. As a consequence Labour’s policy of raising corporate tax will only further drive away large international corporations, which in turn reduce overall revenue. An additional but important amendment to this comment that also answers the plausible reason and positive effect of reducing Corporation Tax is that if you attract large multi-national companies it has the beneficial effect of -1. Reducing local unemployment and dependency on welfare benefit.2. Increasing government revenues through invisible, indirect taxation - i.e. VAT, PAYE etc. 3. Knock-on effect of improving the local economy. 4. Attracting other large Corporations, or multi-national companies. 5. Additional investment and infrastructure.


    That's all interesting theory but, I have to say, low on fact.

    My comment to HEAWD was mainly rhetoric because he has admitted in another thread that he doesn't know why there has been an increase in Corporation Tax yield when the rate has reduced. Corporation Tax is a fairly odd thing in that it actually only accounts for about 7% of all government revenue and that, historically at least, the top 1% of UK companies pay about 80% of the tax.

    There is plenty of scope for shifting profits around the world but you'd have to be very naive to think that companies don't already do that to as much of their UK profits as they can get away with. Their aim is a 0% tax rate, not 19% or 17%. Upping the rate on the top 1% of companies is unlikely to have much effect on the shifting of profits.

    The 'attracting investment' argument is another myth. Overseas investors are all much more concerned about Brexit than the UK tax rate.

    My comment to HEAWD was mainly rhetoric because he has admitted in … My comment to HEAWD was mainly rhetoric because he has admitted in another thread that he doesn't know why there has been an increase in Corporation Tax yield when the rate has reduced. Corporation Tax is a fairly odd thing in that it actually only accounts for about 7% of all government revenue and that, historically at least, the top 1% of UK companies pay about 80% of the tax.



    The increase in Corporate tax yield in the last financial year has nothing to do with the top 1% companies, rather it dependant on a number of factors.

    1. Date of when the financial payments appeared in the figures.
    2. Bank Levies.
    3. Higher Tax revenue from small businesses.
    4. Corporate profitability.
    5. Closing of a number of Tax loopholes.
    6. Agreement with large multi-national to Pay Corporation Tax.

    The 'attracting investment' argument is another myth. Overseas investors … The 'attracting investment' argument is another myth. Overseas investors are all much more concerned about Brexit than the UK tax rate.



    Didn't mention Brexit. You did. Although Brexit will have a massive knock-on affect to future investment, due to uncertainty, theoretically and historically reduction in Corporation Tax usually does increase investment, especially in infrastructure.

    There is plenty of scope for shifting profits around the world but you'd … There is plenty of scope for shifting profits around the world but you'd have to be very naive to think that companies don't already do that to as much of their UK profits as they can get away with. Their aim is a 0% tax rate, not 19% or 17%. Upping the rate on the top 1% of companies is unlikely to have much effect on the shifting of profits.



    So what you're saying is that you're in agreement with my initial assessment that increasing Corporate Tax to 26% will have little to no affect on increasing tax revenue from corporations and multi-national companies. Thus there is a gaping hole in the costing of Labour's manifesto.


    RonChew

    That's all interesting theory but, I have to say, low on fact.My comment … That's all interesting theory but, I have to say, low on fact.My comment to HEAWD was mainly rhetoric because he has admitted in another thread that he doesn't know why there has been an increase in Corporation Tax yield when the rate has reduced. Corporation Tax is a fairly odd thing in that it actually only accounts for about 7% of all government revenue and that, historically at least, the top 1% of UK companies pay about 80% of the tax.There is plenty of scope for shifting profits around the world but you'd have to be very naive to think that companies don't already do that to as much of their UK profits as they can get away with. Their aim is a 0% tax rate, not 19% or 17%. Upping the rate on the top 1% of companies is unlikely to have much effect on the shifting of profits.The 'attracting investment' argument is another myth. Overseas investors are all much more concerned about Brexit than the UK tax rate.



    ​I agree, if anything will drive corporations away, it will be Brexit depending on the actual final deal.

    Banned

    zainarafiq

    I agree, if anything will drive corporations away, it will be Brexit … I agree, if anything will drive corporations away, it will be Brexit depending on the actual final deal.



    You do know that all business are liable to Corporation tax don't you? It isn't a tax on Corporations - all businesses pay it! So many small businesses are struggling already with minimum wage demands, adding a further burden will push many over the edge. End of Business, End of employment. End of VAT payments / PAYE and NI Taxes / Start of JSA payments. I keep telling my partner to close her family run business because she works long hours for about 1/2 minimum wage just to tick over and keep 7 other people in jobs. I'm sure this would be the straw that breaks the camels back. Last year the business made an operating loss. The government needs to think of ways to help small businesses not ways to close them down.

    Every business might not fold, but there certainly is a danger that a huge number would. Get greedy to try scoop off more Corporation Tax and risk losing far more and costing the tax payer far more but doing so. And this at a time we need to attract new investors and give reasons to investors already here to stay is not rocket science to comprehend the enormous risks Corbyn wants to make.

    Lets just hope your employer isn't one of those who'd be forced to close.

    I'm more concerned with their proposed 0.85% Land Value tax to replace council tax and 3% on buy to let

    average LVT in London to be £5000 per year, Outer South East £3500 per year (homeowners)! oO

    average LVT in London to be £15,000 per year, Outer South East £10,500 per year (buy to let owners)! oO

    chocci

    I'm more concerned with their proposed 0.85% Land Value tax to replace … I'm more concerned with their proposed 0.85% Land Value tax to replace council tax and 3% on buy to letaverage LVT in London to be £5000 per year, Outer South East £3500 per year (homeowners)! oOaverage LVT in London to be £15,000 per year, Outer South East £10,500 per year (buy to let owners)! oO



    Fears based on lies made up to embellish this, which is the only mention of the idea thats been made
    http://evolvepolitics.iubc3wu.netdna-cdn.com/wp-content/uploads/2017/05/Land-Value-Tax-Small-Print.png



    labour.org.uk/ind…017

    Edited by: "Error440" 3rd Jun

    I think everyone misses the point with tax and the seemingly thousands of loopholes , incentives , and a genuine lack of enthusiasm by various governments to stop the avoidance . If it can't be stopped , just make it a level playing field and let everyone , regardless of earnings , avoid paying tax . Whether you pay 2k or 2million in tax , pay into a pork pie shop in Israel and claim back your "losses" and write off your tax bills.
    The same idea can be applied to "expenses" , which the MPs haven't given up , it's just not reported as much . Let everyone claim for lightbulbs, newspapers , train fares to work etc... If it can't or won't be stopped for the few ,make it available to everyone .

    philphil61

    If you need to have it explained again then clearly you haven't listened … If you need to have it explained again then clearly you haven't listened the first few times and I'd expect that most HUKD Miscers realise this is just another I'm voting Tory and to hell with the rest of you threadBut seriously even when they put up corporation tax we (the UK) will still be lower than most of the EUThe Tories are anti Robin Hood robbing from the poor and giving to the richThey've continuously given tax breaks to big businesses and the wealthy and continually used austerity as a "selling point". Fact is the big corporations haven't invested in training/employment options and mainly used the "tax bonus" for their shareholders etc.Fact is the top 15% wealthiest people in the UK (if my memory/figure is correct) have all gained financially during austerity whilst the poorest have had to sleep rough, use food banks and charity to survive.Most Miscers know you don't care about others and will use any small issue to publicise that you are a selfish Tory voter and an "I'm alright Jack" It's OK you can respond but like every other reply you make o my comments I don't see them - you are and have been on my ignore list for months but you even don't comprehend that so how will you comprehend anything elseI only see your thread titles and descriptions and it's always obvious by the way it reads but I can't block those....unfortunately



    Have we hit bingo yet, Phil?

    http://myfreebingocards.com/bingo-card-generator/results?not-random=1&img=1&title=HEAWD%27s+GENERAL+ELECTION+BINGO&words=Deficit%0D%0ADebt%0D%0AIRA%0D%0ATax+receipts%0D%0AAutomation%0D%0AThe+next+generation+need+me%0D%0AAsks+question%0D%0ANever+answers+questions%0D%0AYou%27re+all+idiots+and+HEAWD+isn%27t&theme=classic&size=0&per-page=2&free-space-text=FREE+SPACE&s=1

    Original Poster

    dtovey89

    Well said Phil in post #526% will still be the lowest Corp tax rate out … Well said Phil in post #526% will still be the lowest Corp tax rate out of all the big Industrialised European powers... by a significant amount. It is still lower than the rate in 2010.If these corporations want to leave then they can move to Bulgaria where it is 10%. I'm sure they will flourish in Bulgaria X)



    Actually Macron has proposed reducing Frances rate but obviously you didn't know that.

    The fact is that the Tories have increased tax receipts from corporation tax whilst reducing the rates. But labour and their supporters don't care about that.

    It's all about envy, not actually achieving anything.

    Biddy2

    Have we hit bingo yet, Phil?



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