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[_V_]

We are told by non-dom owners of newspapers, etc, that it's a tiny amount compared to something else that can be used as a distraction.
It's about £8-10 Billion a year from "non-dom" status of individuals.

https://web.archive.org/web/20131021...ame&issue=1351

If Hector went after the offshore schemes used to reduce/evade tax in the UK, that would generate a lot more, but would deeply upset the right wing and super-rich who rely on "tax the poor" as a means to their end.

[malvolio]

Perhaps someone should focus on the £30/50/65bn "hole" they are trying to fill given it doesn't exist but merely is a gap between projected spend estimates and interest rates and projected growth figures.

Any good accountant could make it disappear completely.

[AtW]

“Hunt May Delay Cuts to Shield UK Economy and Tory Election Hopes

• Chancellor to backload bulk of savings as UK enters recession
• Sunak pledges growth measures so as not to choke off growth

UK Chancellor Jeremy Hunt is expected to delay much of the £55 billion ($65 billion) of savings to fill the hole in the public finances until after the next election in an attempt to protect the economy and shore up Tory support as the country heads into recession.

Hunt will unveil measures to bring the national debt under control in his Autumn Statement on Nov. 17, with around 40% of the savings coming from tax rises and 60% from spending cuts. The bulk will be delivered in the final years of the five-year forecast to protect growth now, two people familiar with the plans said.
“

https://www.bloomberg.com/news/artic...?sref=o1Dqf087

Great - so Labour can win on the basis they will cancel cuts and make “those with the broadest shoulders” pay for it

[DealorNoDeal]

“Hunt May Delay Cuts to Shield UK Economy and Tory Election Hopes

• Chancellor to backload bulk of savings as UK enters recession
• Sunak pledges growth measures so as not to choke off growth

UK Chancellor Jeremy Hunt is expected to delay much of the £55 billion ($65 billion) of savings to fill the hole in the public finances until after the next election in an attempt to protect the economy and shore up Tory support as the country heads into recession.

Hunt will unveil measures to bring the national debt under control in his Autumn Statement on Nov. 17, with around 40% of the savings coming from tax rises and 60% from spending cuts. The bulk will be delivered in the final years of the five-year forecast to protect growth now, two people familiar with the plans said.
“

https://www.bloomberg.com/news/artic...?sref=o1Dqf087

Great - so Labour can win on the basis they will cancel cuts and make “those with the broadest shoulders” pay for it

Not sure what the markets would make of that. I imagine they would be wanting a big wodge of the £55bn now.

[jamesbrown]

How do you delay not increasing all tax thresholds?

Spin.

[AtW]

Not sure what the markets would make of that. I imagine they would be wanting a big wodge of the £55bn now.

Markets get tax increases now, Labour would reverse tax cuts in 18 months anyway

[d000hg]

Perhaps someone should focus on the £30/50/65bn "hole" they are trying to fill given it doesn't exist but merely is a gap between projected spend estimates and interest rates and projected growth figures.

So it doesn't exist except by a quite detailed definition you are able to give?

[Zigenare]

We are told by non-dom owners of newspapers, etc, that it's a tiny amount compared to something else that can be used as a distraction.
It's about £8-10 Billion a year from "non-dom" status of individuals.

https://web.archive.org/web/20131021...ame&issue=1351

If Hector went after the offshore schemes used to reduce/evade tax in the UK, that would generate a lot more, but would deeply upset the right wing and super-rich who rely on "tax the poor" as a means to their end.

Are you suggesting that what the super-rich are doing is illegal?

[malvolio]

Are you suggesting that what the super-rich are doing is illegal?

It's not illegal, it's avoidance. However if you remove the tax advantage they will simply take their residency and taxes back home or to somewhere more friendly, like the Caymans or Malta. It's very doubtful the seriously rich will start paying taxes they don't have to pay.

[vetran]

It's not illegal, it's avoidance. However if you remove the tax advantage they will simply take their residency and taxes back home or to somewhere more friendly, like the Caymans or Malta. It's very doubtful the seriously rich will start paying taxes they don't have to pay.

every multi national I know of manipulates transfer pricing. Luckily these poor companies can get workers subsidised by Gordon B'ruin's in work benefits as many of them make few profits or even a loss.

https://taxjustice.net/faq/what-is-transfer-pricing/

https://www.reuters.com/article/us-b...89E0EX20121015

https://news.bloombergtax.com/transf...state-aid-case