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Oh Dear - Brown Tax Grab backfires

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    Oh Dear - Brown Tax Grab backfires

    http://news.bbc.co.uk/1/hi/scotland/4537660.stm

    Oil giant Shell has cut its plans for North Sea exploration, blaming Chancellor Gordon Brown's tax hikes for the move.
    The company had planned to hire three drilling rigs, but has decided to reduce the number to two.

    Shell said it took the decision after a review prompted by the chancellor's decision to increase a charge on profits from 10% to 20%.

    The Treasury said the charge compared favourably with tax regimes abroad.

    However, the Scottish National Party warned that the move would cost jobs in Scotland.

    Leader Alex Salmond said: "The chancellor's tax grab on the North Sea was a crude attempt to hide the black hole he has created in Britain's finances, and the cost is now being felt here in Scotland.

    We are disappointed by the government's recent decision and we are continuing to evaluate the impact that the proposals might have on our business

    Shell spokeswoman

    "This decision by Shell will have a knock-on effect throughout the North Sea supply chain.

    "It will cost jobs and threaten the viability of many oil-related businesses in Scotland."

    Mr Brown announced the tax rise in his pre-budget statement earlier this month.

    A Treasury spokesman said: "The decision was made against a backdrop of a structural change in the price of oil and increased profits for the oil companies.

    "It now reflects greater fairness for the British taxpayer on what is clearly a national resource and yet still compares favourably with other international tax regimes."

    #2
    What all businesses should do is this - print full amount of tax is part of the selling price so that everybody knows how much business gets and how much Govt gets - say my receipt for diesel should read:

    BP: £10
    GBrown: £44

    Ideally each receipt should show change in tax comparing to previous few years, thus highlighting any stealth taxes that were introduced recently.

    IMO this should have status of law. Upon my election as an MP I promise to put this Bill forward.

    Comment


      #3
      The Labour manifesto, "A manifesto for enterprise, skills and science" [sic], states at the top of its summary:

      Labour is the party of business

      I wonder whose?

      Comment


        #4
        Originally posted by stackpole
        The Labour manifesto, "A manifesto for enterprise, skills and science" [sic], states at the top of its summary:

        Labour is the party of business

        I wonder whose?
        It's none of yours...

        Spod - In "Homeland Security" mode!

        Comment


          #5
          Originally posted by stackpole
          The Labour manifesto, "A manifesto for enterprise, skills and science" [sic], states at the top of its summary:

          Labour is the party of business

          I wonder whose?
          Tough on crime, tough on the causes of crime ...
          An ethical foreign policy ...
          An integrated transport policy ...
          Joined up government ...

          And:

          Labour is the party of business ...

          And last, and least:

          Every one a winner.

          Fungus

          Comment


            #6
            Originally posted by Treasury
            "The decision was made against a backdrop of a structural change in the price of oil and increased profits for the oil companies.
            Labour is the party for business - unless that business wants to make profits.

            It now reflects greater fairness for the British taxpayer on what is clearly a national resource...
            I hadn't realised that the UK oil industry was nationalised.

            ...and yet still compares favourably with other international tax regimes."
            Obviously not, according to Shell.

            Comment


              #7
              Mwahaha

              "However, the Scottish National Party warned that the move would cost jobs in Scotland. "

              Good, that'll ******* teach them to vote for pigs in red.
              Why not?

              Comment

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