Showing posts with label "tax avoidance". Show all posts
Showing posts with label "tax avoidance". Show all posts

Thursday, 12 April 2012

Green Party Election Broadcast - Vote Green on 3rd May

This is the Green Party of England and Wales election broadcast for the local elections and the London Mayoral election on 3rd May this year - the London election is held using the Alternative Vote system; people can vote Green with their first preference and still have their vote counted if they make a second choice in the unlikely event that the Green candidate does not win outright in the first round. :-)

Largely under-reported if not entirely unreported by the main-party obsessed media is the fact that the decision by the Mayoral candidates and subsequently signals from the Government that leading politicians and candidates should publish their tax records came after a challenge from the Green Mayoral candidate, Jenny Jones, during a debate on the BBC2 Newsnight programme. This is something of an innovation for supposedly transparent British politics and can be seen in the second video below.






Wednesday, 21 March 2012

The Repugnance of George Osborne

"I regard tax evasion and – indeed – aggressive tax avoidance – as morally repugnant," Mr Osborne said. 


And so, today, in his latest national Budget, Chancellor of the Exchequer George Gideon Osborne (whose personal fortune is valued at around £4 million) handed the very richest in society a huge tax cut - a 10% reduction from 50p in the pound to 45p on earnings above £150,000 per year - on the spurious grounds that because it was allegedly so high, it deterred our wealthy compatriots from paying their tax. So, by creating perhaps the biggest piece of tax avoidance in history, he has legitimised their non-payment - balancing the cost of doing so by freezing age-related tax allowances for pensioners - greedy old sods that they are (in George's universe, not mine dear reader!).

George is worried that the rich may desert us and go elsewhere. You might wonder where, exactly. Tax havens, George warns - except the British Government, more than any other in the world, could act to end the curse of these pirate enclaves where multinationals and the very richest individuals move their money to avoid contributing a fair share to the societies they live in - seven out of the fourteen non-sovereign tax havens  belong to the British Crown, but our neoliberal Government is doing precisely nothing about the exemptions legally enjoyed by these. This although the havens deprive the UK Treasury of somewhere between £2 billions and £12 billions in lost revenue every year. 

Yes, this is the logic of the new moral crusader in 11 Downing Street, hoisting high the flag of fiduciary purity on his crusade against the repugnant and immoral. Time for us all to pay our way. And if the billionaires don't magically cough up more tax on a lower tax bill (????), well, we'll just slash another £10 billion off the beleaguered welfare budget, ignoring the needs of an increasingly larger elderly population.

Yes, this is the logic of the moral crusader who preaches the virtues of contributing to the common purse while quietly "aggressively avoiding" a huge tax bill himself.

This is the George Osborne who has allegedly avoided paying at least £1.6 million in taxes himself  by means of a Trust Fund that will benefit him personally and family members - however aggressively or not he has done this, we will never know. That is a secret between him and his accountant.

Tuesday, 20 December 2011

Imagine

The British tax authorities were accused by MPs yesterday of conniving with big businesses to help them avoid paying their tax. The biggest culprit appears to be Vodaphone - there are claims they have had up to £8 billions in tax written off by Her Majesty's Revenue & Customs - they deny this, but whatever the truth, they have been given a whole 5 years to pay £1.25 billion in long overdue, unpaid tax - with no interest to pay!

The head of the HMRC meantime, has enjoyed on average of one meal per week with the owners of the very businesses he is meant to be chasing up to pay their tax. I'm sure it was always a very tense soup course. We should be thankful that the activist group UKuncut is pursuing legal action to make big business pay its taxes - though it looks like it will be in for a long haul.

In total, HMRC has written off around £27 billions of tax due but not paid by corporations in the UK. Worse still though it that when you take into account the tax lost through legal but highly unethical methods like moving money offshore, the loss to the Treasury rises to around £75 billions or even more. This includes the family trust fund of the Chancellor of the Exchequer, George Osborne, so no conflict of interest there.  To put into context, the Government annual deficit for the current year could be cut by nearly 60% if these grasping spivs were made to cough up their due. But somehow they are excused on the basis that it would be damaging to the nation if enforcing their tax payments drove them away - apparently we would no longer have the benefit of their presence.



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