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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  • User AvatarHelen Tedcastle 21st Apr - 9:54am
    daft ha 'p' orth " All that said, it disappoints me that RE syllabi may be entirely ‘locally determined’ (why??)." The original idea (in 1988)...
  • User AvatarRC 21st Apr - 8:36am
    We could follow this with a Mili-bland flavoured ice-cream, which changes flavour every week according to its audience and melts down on the first contact...
  • User AvatarRC 21st Apr - 8:28am
    @Steve Comer "but we’re unhappy with the Lib Dems nationally" That's because they've absorbed all the constant misinformation and distortion they've seen in the media...
  • User AvatarJohnTilley 21st Apr - 7:21am
    Roland Your throw away complacency about "a few nuclear reactors" is staggering. In terms of this discussion you might want to read this from the...
  • User AvatarManfarang 21st Apr - 5:01am
    daft. Anthropology? E.E. Evans Pritchard. Witchcraft, Oracles, and Magic among the Azade.
  • User AvatarManfarang 21st Apr - 4:45am
    Paul Red-Eggs at the Co-op, nest eggs at the Co-op bank. Maybe not.