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 AvatarP. J. 20th Sep - 5:26pm
    @Sheila Gee 2. Only when Brexit has ‘bedded in’, in about a decade from now. I would infer from this that you would hope that...
  • User AvatarGlenn 20th Sep - 5:09pm
    Paul. It's not refuted by anything you say.
  • User AvatarCaron Lindsay 20th Sep - 4:53pm
    @TCO: The people who are in the Awkward Squad are some of the finest liberals I have ever come across in my life. They give...
  • User AvatarPaul D B 20th Sep - 4:42pm
    Dav, you need to read your (rather old) article a bit closer. People were asked how they would best describe themselves, and not surprisingly only...
  • User AvatarGlenn 20th Sep - 4:12pm
    Paul DP I don't think it as anything to do with going backwards and seeing as in 1970s the referendum resulted in a vote to...
  • User AvatarPeter Hirst 20th Sep - 3:24pm
    I agree Neil and it was good to hear you speak at Conference. Community is one of our distinctive qualities. How do you make it...