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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    Reflecting on this a bit, the idea of *financing* fire services via something like a levy on home insurance has a fair amount going for...
  • User AvatarPeter Watson 18th Jan - 12:28am
    @Eddie Sammon "The Commons, and definitely not the Lords, won’t vote for hard brexit." I'm not so sure. A parliamentary vote is likely to be...
  • User Avatarmatt 18th Jan - 12:07am
    @Sesenco "Ask yourself why people with higher educational qualifications overwhelmingly voted Remain. Was it because they were all stupid?" What a nasty condescending attitude.. What...
  • User AvatarValko Yotov 18th Jan - 12:01am
    People calm down. There is a good news - It is a long game. Option 1 - May fails to do any negotiation and we...
  • User AvatarEddie Sammon 17th Jan - 11:45pm
    Thanks Lorenzo. I may do soon-ish. :)
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