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

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Recent Comments

  • User AvatarStephen Campbell 1st Sep - 2:16pm
    Thousands of people die in car accidents every year. We've done all we can to make things safer (seat belts, drink driving laws, speed cameras),...
  • User AvatarT-J 1st Sep - 1:54pm
    OK, great, but I still believe that a strong showing for No will see all these worthy plans simply shelved or kicked into the long...
  • User AvatarAdam Corlett 1st Sep - 1:52pm
    On pensions, we do need to be more careful in recognising that they are deferred income and that we shouldn't tax money both going into...
  • User AvatarEddie Sammon 1st Sep - 1:51pm
    No other comments on the idea of giving men a lower net income for the same gross salary as women? Promoted by saying it will...
  • User Avatarsimon 1st Sep - 1:46pm
    "Yes the sensible thing for the Conservatives, in view of their poor showing in the Daily Mail opinion poll for Clacton, would be to refrain...
  • User AvatarNigel Cheeseman 1st Sep - 1:44pm
    Daisy, much of what you say I can agree with and, as others have said, it sounds similar to what the other candidates are saying....