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Do you think there will be a Deal or No Deal?

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Stanley Road said:
It depends if the 12% is enough of a gain enough to offset a 300% salary overhead.

As i have said, i have lost more than one job where companies have moved for tax incentives and cost reduction.

I often wonder why every company doesnt move operations to eastern Europe. we have recently dine that and my last company too.

Would.a japanese registered company have full access to the single market if it moved there?
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I think its a matter of finding the right local professionals. Sure you can move labour intensive companies to Eastern Europe but can you do the same on lets say financial services? Would bankers be happy to swap the likes of Paris, Frankfurt or London to lets say Sofia or Bucharest? Hmm I doubt it. Under such conditions they might be swayed to other cities who can offer the same magic London does while still having unrestricted access to the single market (Paris?)

I cant answer about the latter because I honestly do not know. What I think is that a company need to commit itself to a certain amount of investment in a EU country (including people employed) to justify access to the single market + it need to commit itself to EU standards. I dont know the details though
 
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There are lots of factors to consider and if you move for low tax and lower salary bill then it makes perfect sense.

I dont think low corp tax in the uk is a bad thing, i said that 60 pages ago.

Maybe the govt doing feck all is better
 
And what ive seen of multinationals here in holland taking advantage of the tax break, is that these companies locate to Hoofddorp, Amstelveen and such.

Nothing glam about
 
Even if lowering the tax rate is a good idea, it's still something you could have done within the EU isn't it? Now you just have to do it to stay in the game? Hardly ideal.
 
Mozza said:
You don't seem to understand that countries competing to cut corporation only leads to one winner, the corporations. It's a beggar thy neighbour approach.
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Well we all need jobs right, no-one is against the way big corps act than me.

What do you want post Brexit, jobs or mad max uk? What do you want the govt to do post exit? Do you actually want the UK to do well?
 
Stanley Road said:
Well we all need jobs right, no-one is against the way big corps act than me.

What do you want post Brexit, jobs or mad max uk? What do you want the govt to do post exit? Do you actually want the UK to do well?
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You can achieve growth without competing on corporation tax. You might gain short term by cutting but everyone looses in the end
 
I find it odd*that the Brexiteers, who were very big on sovereignty a few months ago and especially when Obama offered his opinion on Brexit, have gone awfully quiet following Trump's opinion that Farage should be a British ambassador. Very odd indeed.

*Not really.
 
Dobba said:
I find it odd*that the Brexiteers, who were very big on sovereignty a few months ago and especially when Obama offered his opinion on Brexit, have gone awfully quiet following Trump's opinion that Farage should be a British ambassador. Very odd indeed.

*Not really.
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It's shockingly rude and inappropriate from Trump, and very disrespectful to the current ambassador. Perhaps Mrs May should send Trump some suggestions of who she'd like for ambassador to the UK?
 
Penna said:
It's shockingly rude and inappropriate from Trump, and very disrespectful to the current ambassador. Perhaps Mrs May should send Trump some suggestions of who she'd like for ambassador to the UK?
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Trump calling to influence UK politics through Twitter just highlights the bizarre reality that we are now living through.
 
Penna said:
It's shockingly rude and inappropriate from Trump, and very disrespectful to the current ambassador. Perhaps Mrs May should send Trump some suggestions of who she'd like for ambassador to the UK?
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Can the UK truly afford not obeying to the US now?
 
Stanley Road said:
Ireland managed ok
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Ireland is a country of 5 million people. The UK is a country of 60 million people.

https://www.oecd.org/tax/revenue-statistics-united-kingdom.pdf
https://www.oecd.org/tax/revenue-statistics-ireland.pdf

Irish revenue from taxes on corporate profits : € 4,273m
UK revenue from taxes on corporate profits : £ 43,517m

It should be pretty clear to see how Ireland can drop corporation tax to a low rate, and make up the revenue from multinational companies.

But for the UK to do the same, they would have to attract at least 10 times as many multinational companies as Ireland did.

Not to mention that both Ireland and the UK's corporate tax revenues make up the same percentage of the total; 8%. But Ireland's tax revenue as a percentage of GDP is smaller. 33% compared to 29%

If the UK halved their corporate tax rate, and took every single Irish company, we'd still probably not break even.
 
rcoobc said:
Ireland is a country of 5 million people. The UK is a country of 60 million people.

https://www.oecd.org/tax/revenue-statistics-united-kingdom.pdf
https://www.oecd.org/tax/revenue-statistics-ireland.pdf

Irish revenue from taxes on corporate profits : € 4,273m
UK revenue from taxes on corporate profits : £ 43,517m

It should be pretty clear to see how Ireland can drop corporation tax to a low rate, and make up the revenue from multinational companies.

But for the UK to do the same, they would have to attract at least 10 times as many multinational companies as Ireland did.

Not to mention that both Ireland and the UK's corporate tax revenues make up the same percentage of the total; 8%. But Ireland's tax revenue as a percentage of GDP is smaller. 33% compared to 29%

If the UK halved their corporate tax rate, and took every single Irish company, we'd still probably not break even.
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Still, lots of countries do it but you don't want the UK to do anything, great
 
The UK has already gone against the US by joining the AIIB, which was criticised severely by the US as being part of the UK's "constant accommodation" to China. I think the UK has decided that, at least economically, the future lies in the East. Later, it will try to square the circle, no doubt.
 
rcoobc said:
Ireland is a country of 5 million people. The UK is a country of 60 million people.

https://www.oecd.org/tax/revenue-statistics-united-kingdom.pdf
https://www.oecd.org/tax/revenue-statistics-ireland.pdf

Irish revenue from taxes on corporate profits : € 4,273m
UK revenue from taxes on corporate profits : £ 43,517m

It should be pretty clear to see how Ireland can drop corporation tax to a low rate, and make up the revenue from multinational companies.

But for the UK to do the same, they would have to attract at least 10 times as many multinational companies as Ireland did.

Not to mention that both Ireland and the UK's corporate tax revenues make up the same percentage of the total; 8%. But Ireland's tax revenue as a percentage of GDP is smaller. 33% compared to 29%

If the UK halved their corporate tax rate, and took every single Irish company, we'd still probably not break even.
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There are also international agreements in place between the G 20. Renaging on these will rub other states up the wrong way, but given that the Brexiters still think they can have their cake and eat it, it is not suprising.
 
Penna said:
It's shockingly rude and inappropriate from Trump, and very disrespectful to the current ambassador. Perhaps Mrs May should send Trump some suggestions of who she'd like for ambassador to the UK?
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Well Obama stuck his nose into UK politics and made some idle threats whilst trying to manipulate a vote, why is Trump the demon now?
 
Stanley Road said:
Still, lots of countries do it but you don't want the UK to do anything, great
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Lots of countries is a stretch and most of these countries are small and don't redistribute the wealth.
 
Penna said:
Yes we can, and Mr Trump has a steep learning curve to negotiate where diplomacy is concerned.
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So lets say that Trump decides not to offer the UK a free trade deal. What happens? The UK is struggling with the EU to get the deal it wants. The US won't offer it, India had made it quite clear that any possible deal will be directly linked with freedom of movement (and its a tough cookie that even the EU struggles to crack), Canada had stated that the UK is at the back of her own queue. What happens next?

Trump doesn't like trade deals. He made that pretty obvious. He only needs 1 excuse to pull the plug out of a potential deal with the UK and guess who will be suffering the most?
 
Stanley Road said:
Still, lots of countries do it but you don't want the UK to do anything, great
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On the flip side of what I said, Ireland has a higher GDP per capita, so part of my argument doesn't ring true.

It's not that "I don't want the UK to do anything", but reducing the corporation tax isn't a silver bullet that certain people (pro-market?) tend to argue.

The UK is a country full of paradoxes. Tax is too high, but we're losing money. Spending is too high, but councils are battered for funds. Leaving the EU will hurt our GDP, so we've done it at the worse possible time.

What I really think is that, the additional tax rate is still too high. Corporation tax really pales in comparison (most multinational companies barely pay it anyway).
 
Corporation tax, income tax, capital gains tax, VAT, National Insurance contributions, stamp duty etc etc etc are nothing to do with the EU.
These are all fixed by the National Governments.

The Government will chase after easy targets, those that do pay their taxes but they will try to squeeze as much as they can out of them. They won't bother with the big corporations because it's too much trouble and don't want to upset them.

All this is government inefficiency. Stop blaming everyone else.
 
Paul the Wolf said:
Corporation tax, income tax, capital gains tax, VAT, National Insurance contributions, stamp duty etc etc etc are nothing to do with the EU.
These are all fixed by the National Governments.

The Government will chase after easy targets, those that do pay their taxes but they will try to squeeze as much as they can out of them. They won't bother with the big corporations because it's too much trouble and don't want to upset them.

All this is government inefficiency. Stop blaming everyone else.
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Well, they are a bit to do with the EU.
 
Paul the Wolf said:
The levels of those are not set by the EU - all countries have different rates
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JPRouve said:
Not really, they are at the discretion of each countries. Now due to the single market the VAT is bracketed.
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Yeah, but they are a bit to do with the EU.
The EU sets the broad VAT rules through European VAT Directives, and has set the minimum standard VAT rate at 15%
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France and Germany behind plans for 'common EU corporation tax'
France and Germany want to see common basic corporation tax rates across the EU, according to reports
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http://www.telegraph.co.uk/news/wor...hind-plans-for-common-EU-corporation-tax.html

The EU certainly has much to say on VAT.

Coporation tax - they are looking at.
 
rcoobc said:
Yeah, but they are a bit to do with the EU.


http://www.telegraph.co.uk/news/wor...hind-plans-for-common-EU-corporation-tax.html

The EU certainly has much to say on VAT.

Coporation tax - they are looking at.
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The EU has nothing to do with it. France and Germany aren't the EU and both countries want to propose their plan to the EU members.

Edit: We are in a single market so yes we have common rules but the rates are at the discretion of the countries and when it comes to the standard rate no one is close the limit.
 
Silva said:
The EU wasn't setting our tax rates.
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EU membership does influence tax rates actually, ,most notably that of VAT.


NinjaFletch said:
You're still dancing round the issue that, whatever you think, you've thrown your lot in with people who want migration down and not to change where it's come from.

The only solution is to pull a bait and switch on Leave voters but you accuse 'remainers' of all sorts of things when they come close to doing that so it is a bit rich if you won't flesh out how such an unpalatable idea to your fellow leavers will become acceptable.
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I think we can reduce the numbers, as i have explained previously, just not to the 10,000s. Yet at the current rate of increase net immigration will soon pass the 350,000 mark, which is a significant amount irrespective of your PoV. It seems rather silly, therefore, that government intervention should be viewed as extremist. And even if you're an advocate for continued freedom of movement, honesty ought to compel you to argue for many billions in tax rises to alleviate the inherent pressures created by such numbers. Of course the electorate may then decide that those costs are too steep.

What is neither sustainable nor good governance, is a status quo which leaves matters up to market forces and short-termism (from politics/business).


Jippy said:
I'm not accusing you of being a bigot for a second, you're clearly a very intelligent guy. It just saddens me that the immigration issue is ripping our country in two. Even my own family ffs.
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I didn't think you were accusing me personally, although it is a lazy form of reasoning common to a few others in this thread. 40% of London voted Leave for crying out loud, so it is clearly more complicated than some like to perceive it. I've had enough arguments with family and friends about immigration over the years, and it rarely remains a quiet discussion.
 
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