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Go Back   Armchair General and HistoryNet >> The Best Forums in History > Current Events > Europe

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Europe Issues of modern Europe. .

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  #31  
Old 30 Apr 12, 04:23
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Of course it is. But the alternatives are to raise other taxes or cutting spending even faster, both of which are probably politically impossible at the moment.
Understand fully mate and I also understand that my role play is outlandish but at the same time the price of fuel here is also a big kick in the crotch to the health of this economy.

Sure we will never have tax free oil but at the same time I think we can both agree that the government does not do all it can to lower the strain.

OK so 27 billion, a lot of bread to be sure, we want (i assume) lower fuel duty.
Where else could the government hit to eat into that figure.

I smoke, they can hit me first, lets say another 10p on a pack of 20 as a start,

What else?

I think anything where we have a choice is good, with oil, all must pay either via the pump or shopping cart.

I also wonder if lower fuel duty would make our hauliers and other such industries better able to compete and therefore more profitable/taxable.
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  #32  
Old 30 Apr 12, 10:03
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I smoke, they can hit me first, lets say another 10p on a pack of 20 as a start,
10p on a packet of 20 cigarettes would bring in about 230 million a year, assuming no increase in smuggling.

If you allow for the fact 21% of cigarettes consumed in Britain don't have duty paid, any increase is likely to increase the rate of smuggling and raise little extra money.

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I also wonder if lower fuel duty would make our hauliers and other such industries better able to compete and therefore more profitable/taxable.
To some extent. But fuel duty really is a cash cow for the government and there isn't any easy way to replace it.

The priority must be to get finances under control before cutting taxes dramatically. The alternative is to end up like Greece or Spain, paying such high interest rates on government debt we have to raise taxes even more to compensate.
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  #33  
Old 01 May 12, 07:15
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The priority must be to get finances under control before cutting taxes dramatically. The alternative is to end up like Greece or Spain, paying such high interest rates on government debt we have to raise taxes even more to compensate.

Or Gideon could stop his obsession with cutting the rate of Corporation tax.
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  #34  
Old 01 May 12, 08:00
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Or Gideon could stop his obsession with cutting the rate of Corporation tax.
Corporations find it very easy to avoid tax by moving parts of their operation offshore. See the recent stories about Apple, Amazon etc.

Ireland takes in a lot of corporation tax because they have a low rate. The last few years saw a lot of companies leave Britain for lower tax regimes abroad. Reducing corporation tax will probably boost revenue, not reduce it. (The OBR is forecasting the overall tax take will rise by 28% by 2016, corporation tax will rise by 32%)

Even after all the cuts in the corporation tax rate have been implemented, we will still have the 12th highest effective rate in the G20.
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  #35  
Old 02 May 12, 13:03
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Originally Posted by Hop View Post
Corporations find it very easy to avoid tax by moving parts of their operation offshore. See the recent stories about Apple, Amazon etc.

Ireland takes in a lot of corporation tax because they have a low rate. The last few years saw a lot of companies leave Britain for lower tax regimes abroad. Reducing corporation tax will probably boost revenue, not reduce it. (The OBR is forecasting the overall tax take will rise by 28% by 2016, corporation tax will rise by 32%)

Even after all the cuts in the corporation tax rate have been implemented, we will still have the 12th highest effective rate in the G20.

true, anything that gets companies to move or stay here will have its kick backs, going to do a bit of research on the issue, im sure motoring groups must have put forward atleast a few decent proposals.

Fully agree on the cutting of the defecit, its the main reason I voted for them as naff as its been for our armed forces etc, but then again the cuts needed were never going to be happy.

One areaof ring fencing I could never get my head around though was foreign aid, dont get me wrong, I dont want to see the worlds poorest suffer for the sake of my fuel price etc but at the same time I do not think I am alone in thinking that pound for pound the foreign aid budget does as little goods as british students drugs budgets to help the worlds poorest.

Not saying get rid of it as I know it greases a lot of wheels but it should have been ear marked for a 20 ish percent cut like other department budgets imho.
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