We should turn Britain into a tax haven
Hat tip: Interesting comment piece in The Times today [paywall] from Mark Littlewood, Director General of the Institute of Economic Affairs and founder and former blogger here at LV.
In his article he argues that rather than bash wealth-generating companies we should attract them by cutting and simplifying tax. He makes a point that we have been thinking over here..
“Last year the Prime Minister appeared to understand the benefits of these footloose multinational companies. He promised to “roll out the red carpet” to French entrepreneurs and companies seeking to flee the astronomical taxes planned by the new Hollande administration.”
“Moreover, a centrepiece of the Government’s economic strategy has been to cut corporation tax to 20 per cent by 2015, to encourage companies to relocate to these shores. For the UK to embrace a competitive tax environment is smart economics, apparently. It’s just that we don’t seem to much like other countries doing the same — and more successfully.”
A mixed message, that’s for sure.
Tags: Britain, tax avoidance, tax haven