Why becoming a tax haven would be bad news for Britain
No wonder 82% of all Singaporeans live in state-owned housing, most of which is flats.
Spud, is, is he not, the one who keeps saying that there must be much more social housing?
Something which it appears tax havens can provide?
8 Many tax havens have a staggering debt problem
Running a tax haven is expensive. Local people have to be kept happy and that costs money, which these places don’t have. Singapore has national debt of more than 100% of GDP, which is much more than the UK.
Doesn’t Spud tell us that there should be much more government debt? And from the Singapore page on this:
Is it fiscally sustainable for Singapore to have such a high level of debt?
The answer is ‘Yes’.This situation is fiscally sustainable. This is because these reports only look at gross debt. Taking into account our assets, we have in fact no net debt
In Singapore’s case, we do not borrow to spend. We instead invest all borrowing proceeds. All borrowings are thus backed by assets. What we earn in investment income from our assets is more than sufficient to cover the debt servicing costs. The Singapore Government in fact has a strong balance sheet with assets well in excess of our liabilities.
That’s the Curajus State in action isn’t it? Government borrowing to invest in the economy?