God help us if Labour gets back in power.
Poll: Poll: Prime Minister Theresa May calls General Election on June 8th
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God help us if Labour gets back in power.
Do Labour not understand that if you increase business tax then economic growth will be less as companies are less able to pay more and even stay afloat? So even though your taxes are higher, your tax receipts may in fact be less. Same with higher rates of tax. I'm not rich but I understand that you can't vote yourself into wealth and the best government is one that allows people and businesses economic freedom. If you tax me more, I'll have less money to spend at business, which in turn won't be able to pay me as much, so I'll have less money to pay in tax, ad nauseam.
I'm all for the likes of Amazon getting hit with higher taxes to be fair. They are using worldwide tax manipulation to gain a competitive edge in markets.
Sure, but in honesty, do you think Amazon's profit margins will take a hit, or do you think their prices will simply go up?
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But how,low do you go? We already have one of the lowest corporation tax rates in the world and the Tories are dropping it lower and lower. We are already 14% less than Germany.
And the company I work for it would make little difference if we were taxed an extra 1%, that extra tax would equate to a 0.2% payrise for the staff. Hardly significant. In fact all the corporation tax drops the extra money went to the directors who at the same time were also paying less and less tax.
http://www.bbc.co.uk/news/uk-politics-39865801
No charges for Conservatives over election expenses. Right decision or more evidence of the rigged society?
No charges for Conservatives over election expenses. Right decision or more evidence of the rigged society?
Right decision. As the police said, the papers filed were false. Problem is that isn't illegal. What is illegal is for the MPs signing the papers to sign them knowing they are false. The fact that all of them said party office told them the tour bus didn't count and they didn't need to include it meant they didn't sign it fraudualently so there ws no chance of proving otherwise.
Doesn't get away from the fact the Tories cheated and massively overspent and got a record fine for doing so. Just a shame nobody can be jailed for it.
Basically means that so long as the person signing the forms is a a different person to the one carrying out the overspend, seats can be bought if you ave enough money. The law should be changed so that somebody can be brought to task if it happens again but with the Tory majority they are going to get soon they aren't going to change the law against themselves.
Sad day for democracy.
It depends on your ideology I suppose. I'm more in favour of an American system with low tax and greater personal responsibility. Other's may prefer higher taxes and more government spending. It's not necessarily about giving direct pay rises to staff instead of the taxes being paid, it's more about giving businesses less reason to make staff redundant, more capital to hire more staff, and the ability to give wage rises because less money was spent on tax. Obviously this averages out over the whole economy, so 1% may seem small but it will have an impact over the entire country.
You assume that businesses employ staff when they have money spare, as opposed to hiring staff when they absolutely cannot manage with the current numbers. Same regarding wages - why would a company give a raise just because they had more cash left over after taxes, as opposed to in reaction to what the rest of the market was paying for skills they wanted to retain?
Yes a massive impact to treasury revenue, said to be 2 billion for every one percent drop in corporation tax. Sadly a huge chunk of that goes the shareholders, quite often abroad.
And on a individual company that one percent is nothing. Say you are making a million pound profit. You will pay £10k less. Is that £10k going to stop them making somebody redundant? No, either the job is redundant or it isn't when you are making a million profit. With companies struggling, they are hardly paying any tax so one percent less is nothing and makes no difference. Would help far more companies and would match your reasons for defending it, if the employers NI was reduced. That would encourage more employees, pay rises, investment as it isn't dependant on profit and would help out the struggling companies as much as the successful ones.
So basically a corporation tax cut just allows successful very profitable companies to pay less tax and bigger dividends. Of course if it's too high, it may be detrimental and companies might move abroad to lower tax countries but when we are already near the bottom, why feel the need to keep dropping it when it's costing 2 billion a year? Since 2010 the drop in corporation tax equetes to 18 billion less money into the treasury each year. That's a lot.
And at the same time pay your nurses a one percent payrise cause there isn't enough money in the coffers.
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Oh btw the us corporation tax rate is 39% which is 20% more than ours so not quite sure why you think the American system is a low tax system? It's only personal tax which is lower than here but we are discussing company tax with labours plan
They'd want to pay more and give pay rises to attract better staff or to retain the staff they already have, they'd want to employ more staff so they could expand into other areas or start new projects to improve the business. It's not just about remaining static, it's about allowing business to expand and grow.
You've got it backwards though. Companies employ staff when they need them, they don't employ staff because they have some spare cash. They award raises and up the pay for certain positions to compete against other employers, not because they have a smaller tax bill.
Hmmm Nordic style tax and state or America, tough choices?
Norway is rich because they have loads of gas and oil, Sweden and Denmark not so much. America has the highest GDP per capita in the world by the way.
I guess this somewhat works both ways though. Wasn't this in response to a question asked, i.e. not a topic chosen to campaign on, and therefore there's a question to be asked about why a question wasn't asked about the economy, education, NHS, tax reform etc etc.
Just trying to provide some context btw - I'm not in favour of repealing the ban on fox hunting.
Fascinating stats, however perhaps also important:
https://en.wikipedia.org/wiki/World_Happiness_Report
Perhaps its the lack of masses of the population living in third world style poverty and/or not regularly losing large numbers of kids to mass shootings or something?
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