Labour to bring an end to PFI

[JohnD]

Even the tax-dodging buy-to-let landlords are getting away with it

"For a hint of what this means in practice, look to Newham. The London borough runs a property licensing scheme and has 27,000 registered landlords on its lists. But when it gave HMRC the names of those landlords for some simple analysis it was found that almost half (13,000) are not registered for self-assessment.

This doesn’t necessarily mean all of them are not paying tax on their rents. Small amounts due can be collected via PAYE and some properties will be owned by companies or trusts and separately accounted for. But even if you make allowances for this and assume that, say, 10,000 rather than 13,000 landlords are not properly declaring rent, there is clearly something of a problem here. "

http://www.msn.com/en-gb/money/pers...-find-the-net-is-closing/ar-AAqgzfy?li=AA54rU

A good thing too.

Now we also need to block up the rat-holes used by the likes of Starbucks, Amazon and the Daily Mail. Our government should be made to do that. It's strange how sympathetic they are to billionaires.

"Perhaps if every riding school, garage, landlord, personal trainer, café owner, dog walker and builder (you can get a sense of which professions dodge most here on HMRC’s deliberate defaulter “name and shame” list) had their data analysed by Connect, the UK’s obscene deficit might look very significantly smaller."

Defaulters' list
https://www.gov.uk/government/publi...ddd/current-list-of-deliberate-tax-defaulters

 

[Roger928]

Google, Amazon, Apple and IBM make billions operating in the UK. Don't you think they should pay tax on it?

All those companies already pay tax in the UK.
How much extra do you expect them to pay in order to fund comrade corbyns spending spree?

 

[JohnD]

What rate of tax do you think they pay?

 

[transam]

No worries Corbyn will send a working party to Venezuala & seek advice from his mates who are running the country

They should be able to advise his economic team on where to get the money from for student loans , PPI & all his other commitments

Perhaps he is mates with bill gates

 

[^woody^]

What you mean is:

"If we allow billionaires and multinationals to be tax dodgers, where would the billions come from then for all these jobs and services?"

The answer is in the question.

Why do you think notorious tax-dodging billionaire Richard Branson has moved himself and almost all his companies - even the one that sucks the cream off the NHS - to the British Virgin Islands?

Are you surprised that the boss of the Daily Mail, and his company, pay no tax?

Google, Amazon, Apple and IBM make billions operating in the UK. Don't you think they should pay tax on it?

I pay tax.

Don't you?

That's a nonsense arguement. If corporations and taxpayers are taxed heavily, then they just move out of the UK and there is even less tax revenue. As you allude to, that's what the likes of Branson have done already. That won't pay for Corbyn's utopia.

Further, your argument that Amazon et el make billions but pay no or little tax is also flawed, as you are implying that they are tax dodging - which is illegal. They pay what the law requires them to pay.

 

[SirGalahad]

Where would the billions come from then for all these jobs and services?

Bearing in mind we are already billions in debt

The PFI obligations are about £200bn on a capital amount of £60bn. The Government pays about £10bn a year.

Also many of the PFI are financed by hedge funds and foreign investors.

As to where to get the money. Well that's a good question. First you need to understand how money is created in our economy - we have a system where banks create money backed by debt. So debt as you mention is a key element of our current economic system. As long as banks can create money supply there will be debt - both government and private debt.

But lets say in our current situation how do we raise this money? The Government can raise taxes and or sell bonds. With the low rate of interest then the bond route would be best.

But you have to stop thinking that government finances and economics is simply an extension of personal finances and economics- it is not.

Please read about how money is created in the economic system to realise why we will always be in perpetual debt.

 

[JohnD]

That's a nonsense arguement. If corporations and taxpayers are taxed heavily...

No.

Fairly.

 

[SirGalahad]

That's a nonsense arguement. If corporations and taxpayers are taxed heavily, then they just move out of the UK
Further, your argument that Amazon et el make billions but pay no or little tax is also flawed, as you are implying that they are tax dodging - which is illegal. They pay what the law requires them to pay.

You have answered your own argument very well. If there is project fear then it is that companies will be taxed out of the UK - that is such a pernicious falsehood.

Amazon turnover is £6.3bn - it will just walk away from that?


https://home.kpmg.com/uk/en/home/me...x-rate-is-unlikely-to-be-enough-to-encou.html

"consistently concluded that companies want stability, predictability and certainty, both in economic (including tax) and political terms. "

The rate of tax is one parameter but to say it is the most important one is simply wrong.

To add to this - Warren Buffet was quoted on Trump tax cuts that they would have little benefit - what was more important to companies was lowering the cost of healthcare.

 

[JohnD]

you are implying that they are tax dodging - which is illegal. They pay what the law requires them to pay.

The laws should not be constructed for the benefit of sponging freeloaders, even if they are multi-trillionaire corporations.

 

[SirGalahad]

Laws which corporations through lobbying help to formulate. Why was Cameron so dead set against more transparent laws with regards to tax avoidance.

It shows how well the corps and the media have brainwashed some on here who argue for the billionaires to remain untaxed through loopholes whilst they complain about taxes they have to pay.

 

[^woody^]

It's ironic that the last time Labour wanted to give us the good things, it created the PFI monster that Labour now says it wants to abolish.

 

[^woody^]

The laws should not be constructed for the benefit of sponging freeloaders, even if they are multi-trillionaire corporations.

And when the sponging freeloaders are those draining the social security system and living their lives on benefits, is that to be include in the plan?

 

[noseall]

And when the sponging freeloaders are those draining the social security system and living their lives on benefits, is that to be include in the plan?

Yes, unless you would rather shoot our chavs.

 

[noseall]

It's ironic that the last time Labour wanted to give us the good things, it created the PFI monster that Labour now says it wants to abolish.

Ironic yes. Surprising - no. It's a positive move, that even though orchestrated by their own party, Labour recognise when things are not working. Excellent move by Labour. Not afraid, unlike U-turn Theresa and her coalition of chaos. Wishy-washy Tory ****s.

 

[^woody^]

Yes, unless you would rather shoot our chavs.

That's not quite as radical as buying back a PFI contract, but yes it should be on the table.