Much of Europe wants a financial transaction tax (FTT). The reason why is obvious: they need the money. The UK is adamant it will have no such tax. It says it will harm the City of London. Of course that’s not true: it’s the City of London that harms us, but Cameron ignores that fact and in
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It is often said that government income and expenditure were out of synch before 2008. And it is also claimed that it is excessive spending before then that caused the current crisis. Neither claim is supported by data. The following reflects HM Treasury out-turn data to 2009-10 and June 2011 budget data for 2010-11 onwards: The
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Nick Shaxson, author of Treasure Islands,  recorded this very short clip last Friday while in tax haven Luxembourg. It’s a bit of fun – but it does help highlight the contrast between: real businesses that do real things (ArcelorMittal, whatever you may think of them this is in an industry in Luxembourg that was historically
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I wrote about Compass’ Plan B yesterday and will be at a seminar on the subject all this morning. I’m proud to have contributed some of its key ideas, on tax and some other issues and to see The Green New Deal at the core of it. Others d not share that view. The criticism
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The FT has just reported: In a wide-ranging interview with the FT, Yoshihiko Noda, Japan’s prime minister, has called for clarification about a string of controversial payments made by cameramaker Olympus, saying the furore threatens to tarnish Japan’s reputation as a rules-based market economy. There are moments when I just quietly despair at the stupidity, gullibility or
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This letter was in today’s Observer: It is now clear that plan A isn’t working. Wave after wave of economic figures from HM Treasury, national and international economic institutions such as the OECD, the IFS and the IMF have all concluded that the British economy is faltering. The UK jobless total is now at its highest
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It’s been a gruelling few weeks. I’m absent with my sons today. Sometimes one just needs to go and play but since people often ask if I’m silent for more than a couple of hours – that’s why!

I resigned from the electoral register of the Church of England this morning. It’s hardly a big deal for them. But it was the only way I could find to register a personal protest at the failure of St Paul’s.

At the April 2009 G20 summit in london the big news was the supposed end of tax havens. I know: I was there. And it hasn’t happened. The OECD used the mandate it had been given and in the mot extraordinary act of accommodation and even promotion of tax haven abuse deemed that any tax haven that had signed
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