It would appear that the creation of Singapore-on-Thames is now the intention of the government. The UK clearly wishes to become an even bigger tax haven than it already is, and a pariah state on the world stage.
‘Ee’s right you know. Talk of the bierkeller, no tea seller outside Mumbai train station talks of anything else. Those Brits, pariahs because they’ve not enacted Ritchie’s tax ideas.
Those in Singapore are wondering too. “So, Ashad, we’re richer than they are, yes?” “I believe you’re right MeiMei.” “And we’ve got a better health care system than they do?” “We do, and it’s vastly cheaper.” “We’re growing faster are we?” “We are.” “We’ve sorted out the housing problem?” “We have and they haven’t.” “So, why wouldn’t they want to become Singapore on Thames?” “It violates the principles of Elynomics.” “Ah, well, yes, that does explain it.”
This is very bad news indeed for tax justice, the cause of beating global tax competition that is dedicated to undermining the right of the democratic state to tax,
Well, he’s got one bit right. Tax competition is indeed aimed at reducing the ability to tax. Monopolies are always damaging and a monopoly of taxation right around the world would be one of the more damaging ones too. Precisely because it would not be possible to vote with ones’ feet.