Posted 3 Dec 2012 by Walaa Idris
Sometimes I shudder at the stupidity of some politicians and commentators, who think it’s a good idea to provoke public opinion against multinationals to grab the headlines while putting pressure on them. All along forgetting that the same corporations they are vilifying for their ‘clever’ taxation, do employ hundreds of thousands of British workers, pay hundreds of millions in national insurance, business rates and even corporation tax …., while doing nothing illegal!
These politicos seem to have conveniently neglected, first, to see that cooperation taxes around the world are dwindling as a tax, and secondly, most countries attract big multinationals by offering them low and favorable cooperation taxes! They do it because they know the overall financial gain surpasses the corporation tax revenue. It pains me to see our politicians falling over themselves to preach the gospel of morality, talk about ‘not the letter of the law but the spirit of the law’ ……
When the real moral issue here, should be how to generate growth and prosperity in the country, not drive away those who create businesses and invest in our economy!
You have to be blind not to see that in recent years’ corporate tax headlines do have an effect in where big companies move and relocate to. Driving away those who naturally stimulate our economy by creating sustainable jobs with organic growth is kamikaze economics.
If our tax system is flawed then legislate and fix it. If our taxman is lazy then motivate and educate him, but don’t take the easy way out, the headline grabbing personal gain solution at the expense of everyone and this country. That is simply shameful!
Especially when it comes from a group of people who they themselves don’t fully follow the spirit of the law with regards to using the public’s money for their own expenses!