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UK Leaves the EU - What happens next?

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From the article...



It's a pretty desperate move which shows just how rattled Osborne is getting.

To put it into context, Corporation Tax receipts for 2014/15 were £43 billion. So a move to 15% would shave about £11 billion off that, every year. That's more than all the money the UK will supposedly get back from leaving the EU!

The reason you drop prices is to increase sales not to take less revenue.
 
The UK will eventually see that it's strengths lie primarily in security. An Island nation one of the biggest economies in the world with massive defence capabilities. A haven for business in the new world order. Businesses will be clambering to have a base here. And we won't be encumbered by EU rules.
 
The reason you drop prices is to increase sales not to take less revenue.

It's not prices it's taxes. You're putting more money back in the pockets of profitable companies ie essentially trying to bribe them into ignoring other negatives and opting to stay.

But a tax cut means less government revenue - and that will have to be made up in other ways...
 
The UK will eventually see that it's strengths lie primarily in security. An Island nation one of the biggest economies in the world with massive defence capabilities. A haven for business in the new world order. Businesses will be clambering to have a base here. And we won't be encumbered by EU rules.

Until we know what deal we'll be able to get we have no idea what the country will be like. We will likely have to follow EEA rules and if we somehow manage to detach one of the four freedoms from that we will likely do that at a price, likely economic. It's important to think about what we know and the options that may be available to us based on our situation, rather than just say 'everything is going to be amazing / terrible'.
 
It's a pretty desperate move which shows just how rattled Osborne is getting.

Untrue. Being a low CT destination for business has been central to Osbourne's plans for years. He has cut it steadily already and previously announced it being cut to 17%.

https://www.gov.uk/government/publications/corporation-tax-to-17-in-2020

Making the UK attractive for business is a good thing. And the announcement now gives us another negotiation point ("ok, we could leave it at 17% if you give us ...")
 
It's not prices it's taxes. You're putting more money back in the pockets of profitable companies ie essentially trying to bribe them into ignoring other negatives and opting to stay.

But a tax cut means less government revenue - and that will have to be made up in other ways...
When you reduce taxes revenue rises. More companies declare and more companies base themselves in a low tax economy as Ireland proved, low taxes equals less desire to avoid payment.
you simply said that by reducing the tax rate it would reduce income. That in my humble opinion is not a very informed view.
 
more companies base themselves in a low tax economy as Ireland proved

Many large US companies base themselves in Ireland not for the low CT rate of 12.5%, but for the fact that Irish incorporated companies don't (or didn't) have to be tax resident in Ireland, but can be instead in a tax haven. This enabled them to implement the Double-Irish arrangement, which meant they paid little or no tax at all.

This is used by Apple, Facebook, Microsoft, Google, IBM, Starbucks etc.

Your read about it on Wiki, if you are interested, which I doubt.

In general though, yes a low CT rate is attractive to business. Ireland has the advantage of a low CT rate and access to the EU market, which we couldn't offer of course.
 
CmgcFq3WEAAs_T1.jpg
https://i.imgur.com/wksbQFN.jpg?1

'Comin' over ere, negotiating our brexit!!'
 
CmgcFq3WEAAs_T1.jpg
https://i.imgur.com/wksbQFN.jpg?1

'Comin' over ere, negotiating our brexit!!'

It's ok, Mr Farage has kindly offered to help.
We will be employing the "insult your counterpart's appearance and then shout increasingly loudly until you are red in the face" style of continental negotiation.
We won't get what we want, but that's impossible anyway so at least we'll show them we're BRITISH
 
lol :
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