Ritchie does like to tell us that rents in the economy are a very bad thing. So it’s interesting to see him endorsing the idea that the law should be used to specifically create a rent for Ritchie:
I have long agreed with them.
I was pleased to note this in their ten suggestions:
Tax Dodging: Procurement must be used, as part of massively stepped up efforts to tackle tax dodging and tax avoidance, here and in developing countries. This could bring in much-needed billions for the public purse. There should be pre-qualification disclosure of company taxation policies, not just of illegal tax evasion. Country by country reporting should be a condition and companies registered in tax havens should not be eligible. Public bodies should be able to evaluate a tender on the basis of which company pays tax or not, with penalty clauses for tax evasion and aggressive tax avoidance, post contract. Assessment of bids could make use of the Fair Tax Mark and/or other similar checks developed in future that monitor companies’ tax behaviour, locally and globally.
I think this is essential. Only then will behaviour really change.
All bidders on all public contracts must have the Fair Tax Mark. Won’t that create a lot of business for Ritchie, director of the Fair Tax Mark? And create it by law too!
But, of course, rents in the economy are a bad thing. So Ritchie tells us.