This one’s for the Center for Freedom and Prosperity, I think.
Jersey has issued its Economic Digest for 2007. It is a fascinating document. These are some of the highlights:
· In 2006 Jersey’s total GVA increased by 7%, the largest real-term increase seen for at least eight years;· the profits of the Finance sector rose to more than £1,310 million, an increase of 25% on 2005 [...]
Christmas is about the birth of a child, and for many the focus is on children.
In that case I make this Christmas offering for reflection:
I think the conclusion is obvious.
So I ask a question: how can those who argue for low taxes live with their consciences?
And thanks to TJN for the graph.
I received a seasonal press release from KPMG this morning. It said:
Under an innovative new agreement announced today, KPMG staff in the UK who use the firm’s American Express Corporate Card to pay for their business expenses will be helping to raise funds for KPMG’s charity of the year, currently Help the Hospices.
Under the agreement, [...]
The Financial Reporting Council issued a press release on Monday. It said:
Recent months have seen dramatic liquidity challenges for financial institutions and there are indications that these conditions are affecting the availability of credit to companies more generally. Financial reporting issues are now coming to the fore because a substantial number of UK listed companies [...]
The Treasury issued this press release on Northern Rock this morning:
HM Treasury today confirms that the guarantee arrangements for Northern Rock plc described in HM Treasury’s announcements dated 20 and 21 September 2007 and 9 October 2007 are being extended, at the request of Northern Rock plc, to the following unsubordinated wholesale obligations, whether now [...]
KPMG have issued a report saying:
Cyprus, Ireland, and Switzerland are the top three countries in a league table of European tax systems, compiled by KPMG International, in which major business organizations across Europe assessed the attractiveness of their domestic tax regimes.
This was based on:
more than 400 interviews of tax professionals in multinational companies across Europe. [...]
Swissinfo has reported:
The 300 wealthiest people in Switzerland have assets totalling a record SFr625 billion ($571 billion) - over a quarter of the country’s gross domestic product (GDP).
It’s true that the rich just get richer in tax havens. But it’s also true that three things follow:
1) Local people do get poorer. They pay the taxes [...]
I have been subject to some fairly predictable verbal assaults from some in the financial services industry over the last few days, especially but not solely in Jersey.
Sane people I know read what is said and dismiss the comments as being simple abuse, and not worthy of further consideration. I’m not sure I agree. Abuse [...]
I find it disturbing to read that the Guardian can report that:
The Treasury has stepped up efforts to avoid having to nationalise Northern Rock by asking Goldman Sachs to create a financing package for a private rescue of the ailing bank.
Let’s be clear; the Northern Rock business model has failed. As the FT has dramatically [...]
