Why we don\’t need The City

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!

4 thoughts on “Why we don\’t need The City”

  1. The top 1% of earners pay 25% of all the income tax. Make them go away too – we don’t need their stinking cash either.

    But look on the bright side: when they are all gone there will be no poverty. Relative poverty, that is.

  2. “Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.”
    Winston Churchill

  3. “Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston was wrong on that, its irreducible quality is hatred of the Tories (or local equivalent).

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