Second, will he now realise that supply side reform simply does not work? It has not with the banks.
Supply side reform doesn\’t work? You mean privatising BT didn\’t, allowing telecoms competition didn\’t, allowing airline competition didn\’t? All these are supply side changes. Allowing a private company to run an NHS hospital did not uncover a £1.6 million overspend on stationery? Allowing competition within NHS England did not drive up outcomes while lowering costs in a way that no competition NHS Wales and Scotland did not gain from?
Seriously, supply side does not work? Doesn\’t he realise that all this bleating he does about training unemployed workers is a supply side reform? That, erm, having a state owned investment bank would be a supply side reform?
Third, will he now admit the state can and must pick winners? The Olympics is clear evidence of that.
Crippled Jesu C on a pogo stick. £20 billion on sports day for druggies is an example of government picking winners? The Lord save us all.
Of course money floods to the UK – but that is because our domicile rule makes the UK a perfect tax haven. But these people who come do not add value
Foreigners investing money in the UK does not add value. Discuss.
This will be difficult:
Richard Murphy, a tax campaigner, said: “The single biggest problem our government faces is not having enough tax revenue to fund essential spending.
“One obvious solution is to change the rules on government procurement. As a minimum, anyone offered a government contract must be able to show they’ll pay tax on it in full in the UK and to make sure they do not use tax havens.”
For as Ritchie tells us today:
I and the Tax Justice Network have long argued there is an economy within an economy n the UK – which is that of tax haven UK.
If the UK is a tax haven and you cannot use tax havens then how can you pay tax in the UK?