Ritchie really is just quite unbelievable

I offer a post of his from today in its entirety.

When is a tax illegal?

Well, when it’s ruled so by a relevant body.

The EU did that to the UK yesterday. Mark Lee offers a thoughtful analysis here.

So, the UK has made a mistake. And it could cost £20bn – a 10% increase in the deficit – 20% of the cost of the NHS for a year.

To enrich banks.

I think some counter-measure is needed in the public interest. And I know the libertarians will scream and shout. And my answer is that the EU also has a concept of ‘unjust enrichment’. I think that should apply here.

For more than 20 years stamp duty reserve tax has been paid: few objected – and why should they when the charge is eminently reasonable? But HSBC has now. And the UK government has been found to have made an error.

At the very least a time limit for past claims has to be imposed. I really can’t see a significant tax increase to pay tax refunds to banks is going to go down well with any politician right now.

But let’s also go the heart of this: the EU dedication to the free movement of capital is at fault here. Why should there be that right when people do not share it, universally?

As Ritchie himself said just recently:

Let’s translate that: they’re saying “What can we get away with?”

Society cannot be built on this type of fraud. It creates cheats. It creates mistrust. It undermines trust.

Quite, if you cannot trust the government of the country then don\’t we all have some rather large problems*?

But don\’t you just love the manner in which Murphy R. frames the debate? It\’s about what is the popular will, about what politicians would like to do: nothing at all about the point that if we don\’t uphold the law then we are no longer ruled by the law (Cue Robert Bolt\’s Sir Thomas More speech here please…..).

* There are those of us who have known this for a long time but Ritchie still seems unpersuaded.

10 comments on “Ritchie really is just quite unbelievable

  1. Come on, Tim – get with the programme!

    Obviously Ritchie hasn’t got through to you with his ‘New Economics for Mystics’. Remember: Tax law is okay, as long as it transfers money from the naughty rich wealth creators to whatever project Grand Tax Ayatollah Ritchie says so!

  2. As somebody who works in tax, I’ve got to say that ECJ pronouncements on tax are usually very sensible (and favourable to the taxpayer).

    Stamp Duty (whether SD, SDLT or SDRT) is number one on the list of stupid little taxes that will be scrapped when I’m in charge, so if the ECJ have kicked the door in for me, all the better.

  3. PC, VAT and National Insurance are far sneakier and hence worse than Income Tax. Quangista will all be sacked on Day One as well, of course.

    AC1, Stamp Duty is small amounts with big economic cost that can be rolled into other things. VAT is probably the worst tax but it raises half as much again as income tax/corporation tax so in practice it will be phased out over a couple of years rather than scrapped overnight.

  4. More importantly I played Baron Bolligrew in ‘The Thwarting of Baron Bolligrew’ (Robert Bolt ) at school. It was reckoned a masterpiece . Just thought I `d share that

  5. People like Murphy (by whom we have been ruled for quite a while, at least since 1997 and plausibly before) are so convinced of their righteousness that the More/Roper dialogue in AMFAS is as utterly incomprehensible to them as if were dubbed into Albanian. Murphy simply cannot conceive of a limit to the intromission* of his ghastly ideology into the body politic.

    * and I use this in its anatomical sense, because we are being fucked by these people. The UK is a 13 year-old nymphet and Murphy is Roman Polanski.

  6. C’mon, David. Polanski was probably at least more refined and practiced at the form of “oral suasion” that he employed than Murphy has ever
    evinced for the written.

    Just don’t explain it to him–he’s liable to learn something (and then we’ll be in even more real trouble!).

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