Thursday, February 12, 2009

£25 billion tax lost every year: Radical Reform needed

My thanks to Tony at Aurea Mediocritas for this
the amount of tax lost to avoidance and planning ...is estimated here that £25 billion annually is lost from tax avoidance. This is made up of £13 billion p.a. from tax avoidance by individuals and £12 billion p.a. from the 700 largest corporations.

That's every year. Half a Green New Deal.

There is rising anger in the country over the fact that the banksters have screwed up, and we the taxpayers will be bailing them out with higher taxes for decades to come.

Anger can be destructive, or can be channeled into constructive change.

The BNP is probably dreaming of a right wing coup. Equally, the Left is probably dreaming of a revolution. Of the two, the BNP is more likely to succeed, because they have more sympathisers in the police, the forces and the Establishment.

For Greens, the constructive way forward has to be to plan for Radical Reform - of the electoral system, of Parliament, of the economy, the tax system, the benefit system (Citizens' Income) and of the financial system.

3 comments:

weggis said...

Tell me you don't avoid Tax where you can. I effing do. I take great delight in it!!!! Especially with my CAF account.

DocRichard said...

I do not think you have a team of accountants creating offshore companies, nor do I think your avoidance runs into billions. AFAIK. Maybe I underestimate your status. There is a clear need for reform of the taxation system to bear down on corporate avoidance.

TonyD said...

Weggis,

I would also hope that if you discovered that the organisation you were supporting in order to gain your tax relief was also supporting the laundering of money on behalf of drug cartels, organised crime syndicates and tinpot dictators fleecing their already impoverished fiefdoms, that you might consider an alternative approach.