Tag Archives: public accounts committee

Opinion: Get real about corporate tax

Companies currently pay corporation tax in the country where they are incorporated. A campaign is under way, in the Guardian, and the Commons Public Accounts Committee, that companies should instead pay tax where they make their sales. The proposal has populist appeal, but is impracticable.

Many companies, including UK companies, make export sales without costly incorporation in each sales country. If a US coal producer sells 1m tonnes of coal to UK powerplants for £100m, and makes £5m profit, it submits accounts in the US for tax authority scrutiny, and pays US tax on the £5m. Should this profit be …

Posted in Op-eds | Also tagged , , , and | 29 Comments

Opinion: Should we be selling state assets to reduce debt and create jobs?

One of the unexpected by-products of the controversial privatisations of the 1980s was the discovery of shockingly poor real estate management by state bodies – a rare glimpse of a problem only brought to the surface when the need for proper balance sheets arose.

UK government departments and agencies have since been shown to exhibit appalling asset management, as any sweep through Public Accounts Committee (PAC) or National Audit Office (NAO) reports will demonstrate – stories of unused land & buildings, ‘forgotten’ landholdings, leases on punitive terms, opaque sale of land at below market prices. Government departments also own very large …

Posted in Op-eds | Also tagged and | 6 Comments

LibLink… Paddy Ashdown: Defence cuts? Why, they’ve barely started

In today’s Times (£) Paddy Ashdown argues that the Ministry of Defence is “no longer fit for purpose.”

Ashdown says that the current government are not making enough progress with addressing the Ministry’s problems: the large annual deficit, bureaucratic blunders and project overruns and puts them down to a lack of political direction.

Here’s an excerpt:

The dust is now settling on the Strategic Defence and Security Review, published last October. And what it reveals is that the deeply painful cuts already announced are not going to be enough to balance the books. There will have to be more — there may

Posted in LibLink | Also tagged , and | 6 Comments
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  • User Avatarmalc 1st Nov - 12:01am
    The bookies now have the LibDems at odds on - 5/6 - to get less than 25 seats at the next GE - I doubt...
  • User AvatarSesenco 31st Oct - 11:55pm
    For me, the most telling observation about the Rochester & Strood byelection thus far is that Labour, if it is to form the next government,...
  • User Avatarmalc 31st Oct - 11:47pm
    The best odds on the parties to win Rochester: UKIP 1/11 Tories 10/1 Labour 80/1 Greens 500/1 Britain First 750/1 LibDems 1000/1
  • User AvatarRoland 31st Oct - 11:27pm
    @Stuart, I get your point of view and broadly agree with your assessment of the news worthiness of a public figure's sexuality. However with respect...
  • User AvatarPeter Chegwyn 31st Oct - 11:21pm
    Paul - There are 13 candidates declared so far in Rochester but no 'Bus Pass Elvis' as yet. It's generally accepted that there's a margin...
  • User AvatarEddie Sammon 31st Oct - 10:44pm
    On the subject of George Osborne. He's gone up in my estimations. It's not really political, more personal. All politicians are human and if you...