Rentaquote Ritchie

Tax accountant Richard Murphy, who helped expose tax avoidance by Starbucks, said: ‘The reality is that much of this will never be paid.

‘They are never going to stop spending money on infrastructure, which means they will probably never pay tax. Companies like this have to say when and if they will ever pay tax.’

This in response to this information from Thames Water:

Thames Water sparked fury yesterday when it announced it will not pay corporation tax for up to a decade.

Well done. Murph’s response to a company stating when it will pay tax is to demand that a company must state when it will pay tax.

9 comments on “Rentaquote Ritchie

  1. They won’t pay tax because “they are never going to stop spending money on infrastructure”. Well that’s just fucking disgraceful isn’t it. Well done Ritchie for bringing that to our attention.

  2. and why aren’t they paying tax? presumably because they’ll be running at a loss for tax purposes either a) because they’re losing money or b) because they’re making huge investments. The LHTD really does remind me of the “Tim Robbins” puppet from Team America: World Police. From 27 seconds or so into this…

  3. Richie is nothing more than a pedantic creep, his infatuation with the various varieties of tax “tree” prevents him from seeing the economic “forest”.

    If you’ve avoided corporation tax by reinvesting profits, then ultimately that reinvestment will be used to pay for materials and work which in turn generates tax.

    What he fails to see is that tax is best applied whenever goods and services are transferred between parties, therefore the more transfer that goes on the more tax is generated, and reinvestment into the UK is a far more beneficial concept than squirrelling it all away, a.k.a. “permanent offshore investment”.

  4. I have to say, reading this gave me a genuine LOL moment, at this plum-

    ‘They are never going to stop spending money on infrastructure, which means they will probably never pay tax

    The bastards, spending money on infrastructure. Is there no evil too evil for them? I mean fucking hell, Ritchie’s a Keynesian. Should he be fucking delighted at infrastructure? Isn’t infrastructure what every Keynesian wants for every Christmas?

    Or does he literally believe that only State-funded infrastructure is only really infrastructure, and if it’s privately funded it’s some kind of evil anti-infrastructure? We have a right to know.

  5. Can we all please write to Anglian Water to demand they stop spending money maintaining and improving their infrastructure in the hope that in a few years Downham Market sewers start to overflow with shit and piss and that this odious fuckwit contracts cholera and hepatitis.

    The man needs repeated kickings.

  6. Does raise a wider question though. If all this “infrastructure spending” happens partly because the tax system pushes spending in that direction, is it likely that said spending is not actually the most efficient allocation of capital?

  7. Rising population, global warming, floods etc – I for one very much hope some companies are spending on infrastructure! Leave it up to government and it would be a long time coming… and cancelled by next government due to policital spat.

  8. No doubt Richie will soon be looking at the scandal of some businesses which buy ‘stock’ and pay ‘wages’ which is an obvious ploy to reduce profits and so avoid tax.

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