There is no evidence that profits are disappearing from the UK, as a proportion of UK GDP.
Well, actually, yes there is. Or alternatively, no there isn’t:
Therefore, we are in a situation in which we not losing the profits; what we are losing is the ability to capture those profits in corporation tax, which is something quite different.
Our evidence of the profits in the UK economy is the UK GDP figures. And those Google (and whoever else) profits being booked in Ireland simply are not part of UK GDP. They’re part of Irish. Profits which are part of UK GDP are well captured by our current method of corporation tax.
So, great, he starts out by not understanding GDP accounting.
actually, higher‑tax societies flourish better.
They do? Evidence of that would be nice.
Things like the Fair Tax Mark to which FTSE 100 companies have signed up—and I should declare an interest, as I am a director—are indicating a new temperament in taxation.
Three companies and a teapot mark a sea change in opinion do they?
Richard Murphy: Tangible assets, real assets that create wealth, not intangible assets, which are legal fictions, are what we are looking for.
That’s brave. IP has no value now, eh?
If a company decides that it is better to have a call centre in Delhi, then it should clearly be making a tax contribution to India, for the fact that India is supplying it with trained people. That is perfectly fair.
Corporation tax is a rental payment to the State for its slaves now, is it?
Anyone else want to have ago?