City firms contributed £32.5bn to the tax coffers in the year to March 31, 2009, it emerged today – less than half the £67.8bn they brought in two years earlier.
The amount generated this year is still enough to pay for the entire public security budget – including police, fire brigade, law courts and prisons – or a sizeable chunk of the £79.9bn a year spent on education.
We don\’t need none of that stinking tax revenue, do we?
At the peak of the market, in 2007, City firms contributed about 13.9% of the total UK tax take, according to a report by PricewaterhouseCoopers and the City of London Corporation, released in February this year. The contribution plunged to 7.5% in 2009, according to Guardian calculations.
Off with their heads, the lot of them!