Comments on: A taxing question – How much business do you want to keep in the UK? http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/ Incisive and topical campaigns and commentary on today's issues and tomorrow's problems Thu, 09 Feb 2012 20:05:58 +0000 hourly 1 By: Mandeep http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3027 Mandeep Thu, 29 May 2008 13:40:03 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3027 The argument about democratic ownership of companies benefitting everybody from corporation tax cuts, made by John in his article fails to declare a vital statistic ! What percentage of the businesses in UK are publicly owned and what percentage are privately held? Where the businesses are publicly held how much of their equity is a free float rather than a few !0's of percentage held by the public and rest held by wealthy family owners or trusts etc. This should give a truer picture of will the corporation tax cuts benefit the masses at large? How many of the small shareholders can truly influence the voting in annual board meetings in reality? Aren't the pensions and fund managers and the brokers and investment bankers who probably vote Tory due to their income percentiles scratching each others backs while voting in remuneration votes at AGM's and giving each other business/benefits, while laying the cost of operations (gentleman's clubs anyone) on the joe blog shareholders who has hardly any clue. The argument about democratic ownership of companies benefitting everybody from corporation tax cuts, made by John in his article fails to declare a vital statistic ! What percentage of the businesses in UK are publicly owned and what percentage are privately held? Where the businesses are publicly held how much of their equity is a free float rather than a few !0's of percentage held by the public and rest held by wealthy family owners or trusts etc.

This should give a truer picture of will the corporation tax cuts benefit the masses at large?

How many of the small shareholders can truly influence the voting in annual board meetings in reality? Aren't the pensions and fund managers and the brokers and investment bankers who probably vote Tory due to their income percentiles scratching each others backs while voting in remuneration votes at AGM's and giving each other business/benefits, while laying the cost of operations (gentleman's clubs anyone) on the joe blog shareholders who has hardly any clue.

]]> By: Rose http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3026 Rose Tue, 06 May 2008 12:14:17 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3026 It can never be explained enough to people, especially in the BBC, that the flatter and simpler the tax regime, the higher will be the take, and the cheaper the cost of collecting it. It can never be explained enough to people, especially in the BBC, that the flatter and simpler the tax regime, the higher will be the take, and the cheaper the cost of collecting it.

]]> By: Bazman http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3025 Bazman Mon, 05 May 2008 21:23:31 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3025 philanthropy? Don't make me laugh! Most philanthropists have never done a days work in their lives. Warren Buffets fortune would support the American health care system for about a year. Buying a watch and having a haircut will not pay a nurses salary. Conservatives need to get real. philanthropy? Don't make me laugh! Most philanthropists have never done a days work in their lives. Warren Buffets fortune would support the American health care system for about a year. Buying a watch and having a haircut will not pay a nurses salary. Conservatives need to get real.

]]> By: mikestallard http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3024 mikestallard Mon, 05 May 2008 19:50:40 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3024 I am worried about knocking big business myself. OK the bosses are in it to make money. So is the Stock Exchange. So, ultimately, is everyone. Would you work for nothing? But making money does not rule out philanthropy. Bill Gates? Large companies have large offices and large staffs. These people need to be paid and they need to eat and buy clothes and things. Where do they do this? Where do they have that haircut or buy that watch? Call this the trickle down effect, or what you will, it has got to happen. I agree very much with the Celtic Tiger idea. But, let's face it, this government is not going to stop fiddling with things it does not understand. It is not going to reform. It really believes in what it is doing. And, of course, what it is doing is going broke fast. Hence the need for taxing everything that moves - and more. I am worried about knocking big business myself. OK the bosses are in it to make money. So is the Stock Exchange. So, ultimately, is everyone. Would you work for nothing?
But making money does not rule out philanthropy. Bill Gates?
Large companies have large offices and large staffs. These people need to be paid and they need to eat and buy clothes and things. Where do they do this? Where do they have that haircut or buy that watch? Call this the trickle down effect, or what you will, it has got to happen.
I agree very much with the Celtic Tiger idea.

But, let's face it, this government is not going to stop fiddling with things it does not understand. It is not going to reform. It really believes in what it is doing.

And, of course, what it is doing is going broke fast. Hence the need for taxing everything that moves – and more.

]]> By: Acorn http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3023 Acorn Mon, 05 May 2008 17:57:09 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3023 Don't forget that as a UK domiciled company, you are required to be also an employee income tax collector; national insurance tax collector and an immigration status inspector. Who was it who said, "... the only purpose of a business is to make profits ..."? Don't forget that as a UK domiciled company, you are required to be also an employee income tax collector; national insurance tax collector and an immigration status inspector.

Who was it who said, "… the only purpose of a business is to make profits …"?

]]> By: Bazman http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3022 Bazman Mon, 05 May 2008 17:40:30 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3022 He means the British car industry, which is quite large and successful. No chance of buying an affordable 5 door family car though. The trickle down effect or the 'sparrows and oats' theory has been disproved time and again. A lot of cash ends up abroad or in banks from these 'entrepreneurs' and Britain ain't called Treasure Island by large companies for nothing. They are here for booty and plunder for sure. When they have destroyed the country they will then declare it bad for business and move somewhere else. Or at least when the grants have been used up. He means the British car industry, which is quite large and successful. No chance of buying an affordable 5 door family car though.
The trickle down effect or the 'sparrows and oats' theory has been disproved time and again. A lot of cash ends up abroad or in banks from these 'entrepreneurs' and Britain ain't called Treasure Island by large companies for nothing. They are here for booty and plunder for sure. When they have destroyed the country they will then declare it bad for business and move somewhere else. Or at least when the grants have been used up.

]]> By: Tony Makara http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3021 Tony Makara Mon, 05 May 2008 17:34:58 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3021 Stuart Fairney, ideally British owned should mean that the company is owned by British entrepreneurs and shareholders. Of course where no corresponding company exists in our country to supply a given niche area then we should remain open to foreign investment, however ideally we should be trying to build our own economy rather than acting as a surrogate for foreign capital, which is open to flight when economic conditions are not favourable. A British economy built by British capital offers more security, but of course where the will and inclination to invest does not come from the British entrepreneur then we shouldn't close the door on those who do want to invest here. My argument is that government must make British investment, particularly in relation to supplying the home market, profitable and free of regulation. Stuart Fairney, ideally British owned should mean that the company is owned by British entrepreneurs and shareholders. Of course where no corresponding company exists in our country to supply a given niche area then we should remain open to foreign investment, however ideally we should be trying to build our own economy rather than acting as a surrogate for foreign capital, which is open to flight when economic conditions are not favourable. A British economy built by British capital offers more security, but of course where the will and inclination to invest does not come from the British entrepreneur then we shouldn't close the door on those who do want to invest here. My argument is that government must make British investment, particularly in relation to supplying the home market, profitable and free of regulation.

]]> By: niconoclast http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3020 niconoclast Mon, 05 May 2008 17:32:21 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3020 The conservatives will propose a corporation tax twice the rate of Southern Ireland's?Why such a niggardly,tokenistic reduction? Reply: You tend to get to lower taxes through stepped reductions. The conservatives will propose a corporation tax twice the rate of Southern Ireland's?Why such a niggardly,tokenistic reduction?

Reply: You tend to get to lower taxes through stepped reductions.

]]> By: Stuart Fairney http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3019 Stuart Fairney Mon, 05 May 2008 14:51:37 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3019 Tony, what is a British owned company? This isn't me being ironic, I would like to know what you mean. Tony, what is a British owned company?

This isn't me being ironic, I would like to know what you mean.

]]> By: Tony Makara http://johnredwoodsdiary.com/2008/05/05/a-taxing-question-how-much-business-do-you-want-to-keep-in-the-uk/#comment-3018 Tony Makara Mon, 05 May 2008 12:41:21 +0000 http://www.johnredwoodsdiary.com/?p=1051#comment-3018 Government should provide significant tax relief to British owned companies and particularly those that look to supply our domestic market. If government makes it profitable to supply the British market then we will be less reliant on imports and less prone to the higher-interest rates needed to shore up Sterling to prevent high-street inflation from entering the country on the back of imports. This is particularly important as far as food is concerned. We are already starting to see shopping bills increase as the cost of EU food imports increases as the purchasing power of Sterling declines. The more we can produce for ourselves the greater our level of food security will be. The Labour government do not understand that to punish profit is to punish incentive. An entrepreneur who can make more money is going to want to invest more, creating more jobs, wares and services. More people working means more people contributing to the economy rather than taking from it. People buying more, saving more, thus adding to the wealth of our nation. On the other hand an entrepreneur who can't make money will not invest, will not have the profit margins that encourage risk, the result being no jobs created and no extra wealth for the economy. The message to entrepreneurs should be, go forth, make money, muliply your wealth, by your wealth others will benefit too. Government should provide significant tax relief to British owned companies and particularly those that look to supply our domestic market. If government makes it profitable to supply the British market then we will be less reliant on imports and less prone to the higher-interest rates needed to shore up Sterling to prevent high-street inflation from entering the country on the back of imports. This is particularly important as far as food is concerned. We are already starting to see shopping bills increase as the cost of EU food imports increases as the purchasing power of Sterling declines. The more we can produce for ourselves the greater our level of food security will be.

The Labour government do not understand that to punish profit is to punish incentive. An entrepreneur who can make more money is going to want to invest more, creating more jobs, wares and services. More people working means more people contributing to the economy rather than taking from it. People buying more, saving more, thus adding to the wealth of our nation. On the other hand an entrepreneur who can't make money will not invest, will not have the profit margins that encourage risk, the result being no jobs created and no extra wealth for the economy. The message to entrepreneurs should be, go forth, make money, muliply your wealth, by your wealth others will benefit too.

]]>