Remarkable, Corbyn’s even more deluded than the Murphmeister

Murph always insists that his £120 billion tax gap cannot be entirely closed. He thinks that a bit of it can be but obviously not all of it. Here’s Corbyn:

Detailed analysis conducted in 2014 by left-leaning economist and tax expert Richard Murphy indicates the government loses £120 billion in tax revenues annually. The £120 billion figure is made up of £20 billion in tax debt, £20 billion in tax avoidance and £80 billion in tax evasion.

Corbyn says this revenue could double the National Health Service’s (NHS) budget. He says Britons cannot expect a progressive tax system unless tax laws are robust and enforceable.

The NHS costs £120 billion a year. Jezza is assuming that all of that tax gap can be collected.

Man’s even madder than the Lord High Tax Denouncer.

The box of frogs called and want their reputation back.

21 thoughts on “Remarkable, Corbyn’s even more deluded than the Murphmeister”

  1. Something not adding up here Tim.

    The NHS England budget is < £100m, and the entire UK economy is around £1.8trn

    Not clear from your quoting if it's you or someone else saying the NHS costs 66% of the entire UK economy.

  2. and by the iron law of the internet, any nitpicking on errors contains an error.

    of course I should have said:

    The NHS England budget is < £100bn, and the entire UK economy is around £1.8trn

  3. HMRC only picks the low hanging fruit, the thought it could collect the debts of £20 billion and the £80 billion evaded is laughable it would be the equivalent to the Police stopping all crime for a year

  4. You might be able to get the £120 billion – once!

    The year after you would not get it as the accounting and legal industries would simply devise new schemes to avoid the tax.

  5. A lot is down to overpriced coffee beans.

    Absolutely none of it is because of the interesting arrangements of a left-leaning newspaper. And even less because of politically motivated charities not paying PAYE.

  6. Off topic, but 14 years for fixing LIBOR! Fucking hell, he’s been hung out to dry on that one.

  7. Since nobody has a clue how much tax is lost as a result of evasion, why call it only £80 billion?

    Why not call it £150 billion and it pays for the NHS every year? And yes, if you collect on evasion, you probably collect about the amount evaded year after year by bringing the evaded income into the remit of tax.

    Of course, to collect all the tax evaded, you need to run every financial transaction past a committee of 40,000 experts, chaired by some sort of superman…

  8. £20bn of tax debt annually? What does that even mean? If they collect that debt this year, does £20bn debt appear next year?

  9. So, Murphy claims in the space of an hour that he is the author of much of Corbyn’s economic policy but, to make it clear, he isn’t the author of Corbyn’s economic policy.

    Righto.

  10. ” been hung out to dry on that one.”

    Yes, I thought that immediately. He’d have got less if he’d done away with the compliance officers.

    I’ve anyway suspected that attempting to rig LIBOR probably didn’t have much real effect, so it’s doubly punishing.

  11. Interesting how RM now reconciled to that instrument of neoliberalism, from which he removed his subscription as gone over to the Dark Side they were.

  12. magnusw:

    Not quite right there:

    ‘Murphy is the most dangerous man in Britain, if not the world’

    Fixed it for you…..

  13. I also like the idea that ‘detailed analysis’ has been done by Murphy. He has never been able to defend the figures on a single blog post without resorting to ‘Section 1 of the comments policy’ – The Figure is drawn up on the back of a fag packet (one of the new ones with the graphic images and warnings) and is totally arbitrary….

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