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14 May
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27 Mar
If it wasn’t bad enough that our treasurer didn’t drop corporation tax when businesses were threatening to move, he’s now attempting to force out even bigger companies. For example: HSBC, Vodafone, Astra Zeneca, Glaxo Smith Kline, BAE Systems, British American Tobacco, Shell and BP.
All these companies may move if the treasury abandons its ideas of more tax on foreign income. This warning came when Shire’s move meant the company will pay a tax rate of 12.5% in future, rather than the 28% in the UK.
A spokesman for Glaxo confirmed that its new chief executive, Andrew Witty, attended the meeting.
“We believe that the UK business environment has to be realistic so it doesn’t impair our ability to compete globally.”
In my view it seems the treasury wants the UK to go into recession, surely with the credit crunch in place and the banks not lending you would encourage businesses, not ship them out?
25 Mar
One of the largest banks in England has said that they’ve seen 0.9% decrease in house prices, with higher expected falls in Wales and the West Midlands. Economists have long said that house prices will, eventually, fall. House prices were due to drop, but they couldn’t have started to at a worse time.
The fall in house prices is due to two things: One, the banks aren’t lending any money out so no one is able to buy a new mortgage, and two, the recent movement of large firms such as Yahoo has lowered employment so people are simply having to stay where they are. There’s a simple solution to all of these problems, force the banks to lend money. Forcing the banks to lend money would, of course, help mortgage lending: it won’t help the government pick up any brownie points, but who cares. Personally I think banks should be forced to give out loans at the previous rates, fair or not fair?