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 AvatarT-J 20th Dec - 2:40pm
    The incentivisation Richard Dean speaks of has two sides. One is the incentive to work in order to improve one's situation. Systems like our present...
  • User AvatarPeter Chegwyn 20th Dec - 2:12pm
    Dave G Fawcett is correct in saying there are still areas 'outside the bastions' where we continue to win council seats against the national trend....
  • User AvatarTsar Nicolas 20th Dec - 1:24pm
    Liberal Al The price of oil and gas are linked so if one goes up in price, so does the other, and vice-versa. If there...
  • User AvatarKen Palmerton 20th Dec - 1:23pm
    My heartfelt thanks to Robin for restarting this discussion amongst Liberals about the Citizens income. Its like stepping back to the 1940s when the Womens...
  • User AvatarPeter Chegwyn 20th Dec - 1:13pm
    Totally agree with David and Nigel. A wonderful tribute by Nick. There was another very moving tribute given at the funeral by Steve Atack which...
  • User AvatarDave G Fawcett 20th Dec - 1:00pm
    'outside the “bastions”, there is no party left either on the ground or at the ballot box.' Theakes, please don't write the rest of us...
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