The Daily Mail has joined those giving advance publicity to the TUC report on tax planning and avoidance to be published on Friday. Ir says:
It estimates controversial ‘non-domicile’ rules allow them to avoid about £3.8billion of taxes.
About £3.2billion is lost from ‘income shifting’, typically putting money in a wife’s name. Other loopholes and clever accounting make up the remaining £6billion.
So what did Mike Warburton have to say? This:
[M]any would simply leave Britain if they had to pay more tax.
It’s time to change the record Mike. We’ve heard this response so often it has ceased to be credible: it’s apparent they are not leaving.
And it’s time Mike did something else: which is recognise that in practice those doing much of this are paying less tax then most in this country although they have the greatest capacity to pay. Brendan Barber of the TUC has said:
It looks like tax has become optional for a small group of the super-rich.
And the TUC point out:
[T]he biggest victims are those on the state pension, who could be given a 20 per cent increase with the revenue.
So why are you choosing to be on the side of abusers Mike? Can you provide an answer?
Hint: Don’t try ‘trickle down’ as a partner at a Big 4 firm did at a recent event I attended because we all know wealth is ‘trickling up’ as the gap between richest and poorest is increasing.