THE Croydonian looks at the evil bankers:
Well, “Large banks accounted for about 30 per cent of the UK’s corporation tax receipts last year, according to a study by PwC“. FT 14/8/8
I make CT receipts £51.3 bn, and 30% of that is £15.4 bn. Here is a list of 2008 spending, take your pick. You could have half the defence budget, or tertiary and secondary education spending at central government level or a quarter of old age pension spending.
And that’s before income tax, business rates etc etc.
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Posted: 8th, October 2008 | In: Money, Twitterings Comments (3) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
Comments
October 9th, 2008 at 10:09 am
That probably depends on the employees…
Croydonian, you really need to increase your cynicism levels when embarking into these waters; at the moment you are displaying worrying signs of naivity.
The vast majority of tax in this country is paid nowadays by the poor bloody infantry via PAYE; thanks to major improvements in tax avoidance and some horrendous decisions in the House of Lords and Strasbourg, corporation tax became a method of channelling money from the pockets of the poor bloody infantry to the pockets of extremely rich people.
OK, became yet another method of channelling money from the pockets of the poor bloody infantry to the pockets of extremely rich people.
Banks can’t become tax exiles because they have to have presences here if they want to do business here; banking law compels that. And they want to do business here; they’ve made a lot of dosh.
Other large groups can and do become tax exiles because it’s a globalised economy which rewards greedy people who want to have all the amenities of a civilised country without doing anything to pay for those amenities.
Does any of this sound familiar?
AS in, how did we reach the worst financial crisis since the Great Depression?
I commend to you a piece in the Forums I wrote entitled:
‘How do 377 people take down 116,000 people?’
a week or two back.
http://www.anorak.co.uk/forums/topic.php?id=1837
Actually, I might ask Anorka to put it out front since it can stand as a blue print on how the financial markets could take down the entire world…
October 9th, 2008 at 8:23 am
I am well aware of that, but the employees do, don’t they?
October 8th, 2008 at 10:26 pm
I wouldn’t want to be picky, but the Croydonian’s take on the taxation of companies would be a trifle more convincing had s/he realised that companies don’t pay income tax…