…..including an increase in the absurdly low rates of corporation tax paid by big business in this country.
Umm, what absurdly low rates are those?
The UK (in 2006) got 4% of GDP from taxes on corporate income. The OECD average is 3.9%. EU 15, 3.4%.
So our \”absurdly low\” rates are higher than Sweden (3.7%), Germany (2.1%), France (3.0%) are they?
Oh, and he insists that companies should pay more corporation tax because they benefit from having an educated workforce:
We all benefit from a well trained workforce
There are externalities in economics – some are costs. Some are benefits. This is a massive benefit.
Employers need to contribute to that – heavily
But, as we also know from the economics of taxation, from tax incidence, it isn\’t the employers that pay corporation tax, is it? Companies certainly don\’t and in a small open economy like ours, we in fact know that it\’s the workers, in the form of lower wages, which pay more than the majority of that economic burden.
See the errors which ignorance of basic economics can lead you into?