Every time you put full stops I expect a punchline.
Current Affairs 2017 General Election
- Thread starter neil999
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Every time you put full stops I expect a punchline.
Mrk
Player Valuation: £40m
Two things:
1) Since 2010, corporation tax has been cut from 28% to 19%. In that time , the amount raised from corporation tax has risen from £43 billion to £52 billion.
2) "A lot of these companies dodge tax anyway" - Just to clarify, the vast majority of businesses pay the tax they owe. Only businesses with huge resources, complicated corporate structures and very expensive tax lawyers can 'dodge' tax.
ashwuk76
Player Valuation: £35m
As I said I would need to do a little research so thanks for that. The op on this point said raising it from 16 percent to 20 percent would be disastrous so it would be interesting to see the difference that the 16 percent has made to the figures you outline above.
Also maybe I should have clarified better, you are right the vast majority do pay the tax they should, it is the bigger business that evade the tax and I think, although I stand to be corrected, the amount of tax evaded by these companies is circa 8 billion.
Corbyn now saying 26% rate this morning, which is a detestable policy. That's a greater than 50% rise on the 17% rate we will have in 2 years time under current plans. It will kill investment into NI where I am. Why invest when its 12.5% down the road?
Mrk
Player Valuation: £40m
It would be disastrous for the people who work for SMEs or the people who are looking to enter the jobs market, especially in Northern Ireland which is in a very precarious position.
Gouldy
Player Valuation: £1m
US corp tax rate is 35% (for now) and is still home to the biggest economy in the world. Although that stat doesn't give the full picture, I want to add that a lot of companies as shown by the Panama papers have stashed more than 1T $ overseas in offshore shell companies.. although these are the big corps, and not small businesses.
It is difficult to say what is a good tax rates for corporations because if countries keep trying to lower their tax rates to outdo other countries in an attempt to make their country more appealable to corporations, eventually the tax rate will go so low that it's a negligible amount of tax paid but then if tax rates are too high, it may decrease the appeal of incorporating in country X
WycombeToffee
Player Valuation: £1.5m
You don't understand what I'm saying. After Brexit, many companies are considering leaving the UK. I would guess that the vast majority would stay at the moment, but a large increase in corp tax could easily be the trigger for leaving, losing thousands of jobs, and actually decreasing tax intake. This negatively affects these areas through a vicious cycle in the local economy.
As for your services point, obviously they need to be funded. However, the public sector has a reputation for wasting money through gross inefficiency. What would change? You can't just throw money at something and hope it gets better. Which is basically Corbyn's plan.
ashwuk76
Player Valuation: £35m
Haven't NI got devolved powers to set tax rates? If not maybe they should push for that? Same as Scotland I believe who can set rates?
We have no devolution at the minute mate lol
Scotland's relates only to income tax too I believe.
ashwuk76
Player Valuation: £35m
It is a difficult balancing act that's for sure and need to be set at a sensible rate but not too low as you reach a point where it doesn't matter how many businesses pay tax you still won't recoup the same amount.
A simple example is when I worked in a record shop when albums were 13 to 14 pound each there was a bit drive to drop prices. They bought in a 9.99 price point but the amount that needed to be sold was around 4 times what was needed before as the earlier price point which wasn't realistic. Similar point with taxes.
ashwuk76
Player Valuation: £35m
Maybe going forward NI may push for that then?
Ah ok i thought it was corp tax they were able to set as well as income tax.
ashwuk76
Player Valuation: £35m
We don't know exactly what brexit will do as yet. But you are right it might drive businesses away due to the tarriffs that will need to be paid, without knowing the figures I'm not sure how low corp tax would need to be to offset that. However it's too early for that as we have no deal in place. See maybe brexit won't be that good for the economy after all.
Yea I agree public services can be inefficient. But that's mostly to do with outsourcing costing more than when things were done In house. So procurement needs to be better and services need to be bought back in-house.
No election fraud charges to be bought, then.
Is anybody even remotely surprised by this?
Is anybody even remotely surprised by this?
orly
Please check with me for Blammo criteria
Yes, I thought at least one would be thrown to the wolves. It's a complete whitewash
There is one complaint still under investigation, so you might yet be right.
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