O/T Are any of our more outrageously right wing contributors...

[John2]

First thing we should do after Brexit is cut corporation tax.

What do you mean?

It's already been cut for big companies from 30% in 2007 to 19% in 2019.

Next year big and small companies will pay a flat 17%.

How low do you want to go, don't you think we should be charging bigger companies higher rates than the little businesses?

Edit: I'd also point out we have one of the smallest rates in the developed world, and HMRC estimates next years tax cut will cost the government over £6bn in revenue.

[great_fire]

Low corporation rates got some big companies to move to Ireland, EU got arsey about it as usual and are forcing them to increase it so we should step in and grab that business.

[Silly-miller]

Never understood right wing and left wing just sounds stupid to me.

Iv always been a neutral voter I vote for what party at the time I believe in the most

[Pattylallacks2]

Never understood right wing and left wing just sounds stupid to me.

Iv always been a neutral voter I vote for what party at the time I believe in the most

So you are a midfielder?

[gm_gm]

What do you mean?

It's already been cut for big companies from 30% in 2007 to 19% in 2019.

Next year big and small companies will pay a flat 17%.

How low do you want to go, don't you think we should be charging bigger companies higher rates than the little businesses?

Edit: I'd also point out we have one of the smallest rates in the developed world, and HMRC estimates next years tax cut will cost the government over £6bn in revenue.

I think you have misrepresented the facts again John, the £6bn will be the assumed loss not taking into account revenue generated from the lower rate which will enable investment which in turn will see VAT, income tax, NI and possible higher forecast revenue from Corp Tax if profits increase as a result.

Stick to ******* and leave economics to those who know

[ragingpup]

I think you have misrepresented the facts again John, the £6bn will be the assumed loss not taking into account revenue generated from the lower rate which will enable investment which in turn will see VAT, income tax, NI and possible higher forecast revenue from Corp Tax if profits increase as a result.

Stick to ******* and leave economics to those who know

Ah yes. The good old 'trickle down' and effect, so tried and proven to work in the last 40 years... Look around the streets, look at the list of counsels struggling to manage on their huge cuts. Works dunnit

[KerrAvon]

Ah yes. The good old 'trickle down' and effect, so tried and proven to work in the last 40 years... Look around the streets, look at the list of counsels struggling to manage on their huge cuts. Works dunnit

It's got nothing to do with 'trickle down' raging. It's simply that lower taxes encourage more businesses to choose to be based and taxed within the UK, which encourages them to employ and invest in the UK and to use UK businesses for support services such as legal and accounting.

Increased economic activity benefits everyone.

gf is correct that large numbers of companies have chosen to be based and taxed in Ireland, which has very low CT rates. In the late noughties, some British companies rebased there. This link is from 2008:. https://www.nytimes.com/2008/09/05/b...ess/05tax.html

In 2009 the UK government changed the taxation of profits earned overseas and from 2010 onwards UK CT rates were lowered. The effect of that has seen some businesses returning to the UK from Ireland and a number of American companies choosing to operate from, employ people in and pay tax in the UK.

The trick is setting a tax rate that optimises growth and tax revenues - encouraging the golden goose to lay more eggs as opposed to slaughtering it for short term gain.

gf is wrong to say that the EU has stopped the Irish government from setting low taxes. The Irish are in bother for allegedly treating the taxation of Apple in a different way to other companies.

You talk a lot about the last 40 years. May I ask how old you are and what you remember of the time before that?

[ragingpup]

It's got nothing to do with 'trickle down' raging. It's simply that lower taxes encourage more businesses to choose to be based and taxed within the UK, which encourages them to employ and invest in the UK and to use UK businesses for support services such as legal and accounting.

Increased economic activity benefits everyone.

gf is correct that large numbers of companies have chosen to be based and taxed in Ireland, which has very low CT rates. In the late noughties, some British companies rebased there. This link is from 2008:. https://www.nytimes.com/2008/09/05/b...ess/05tax.html

In 2009 the UK government changed the taxation of profits earned overseas and from 2010 onwards UK CT rates were lowered. The effect of that has seen some businesses returning to the UK from Ireland and a number of American companies choosing to operate from, employ people in and pay tax in the UK.

The trick is setting a tax rate that optimises growth and tax revenues - encouraging the golden goose to lay more eggs as opposed to slaughtering it for short term gain.

gf is wrong to say that the EU has stopped the Irish government from setting low taxes. The Irish are in bother for allegedly treating the taxation of Apple in a different way to other companies.

You talk a lot about the last 40 years. May I ask how old you are and what you remember of the time before that?

So the increased economic activity doesn't 'filter' down into improved economic benefits for people and services?

[KerrAvon]

So the increased economic activity doesn't 'filter' down into improved economic benefits for people and services?

Having jobs tends to be a good thing for people. Companies choosing to pay taxes in the UK makes money available for public services. These things are obvious.

You didn't answer re: your age. You have mentioned that you have a young child. My guess is that you hadn't been born in the golden age that you believe existed before 1979 or were so young as to have no meaningful memories?

[Exiletyke]

Having jobs tends to be a good thing for people. Companies choosing to pay taxes in the UK makes money available for public services. These things are obvious.

You didn't answer re: your age. You have mentioned that you have a young child. My guess is that you hadn't been born in the golden age that you believe existed before 1979 or were so young as to have no meaningful memories?

It's the companies choosing not to pay taxes in the UK despite deriving huge incomes from the UK that should concern us