FT.com / UK / Politics & policy – ‚ÄòWhat banker wants to be in the UK?’. The FT notes: Bankers were fuming. One investment banking chief said the “contract between government and business is broken”, and warned that up to 40 per cent of the City’s activities were “mobile” and would move overseas to more
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FT.com / In depth – Tax dodgers face fresh Treasury clampdown. Lots of accountants government bashing in this FT article, like this: The Treasury also unveiled plans to extend its disclosure regime by requiring tax planners to register lists of clients taking up certain schemes. Francesca Lagerberg, head of tax at Grant Thornton professional services,
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Most things are clearer after a night’s sleep. I finished broadcast comments on the PBR after 10 last night (Radio 4’s The World Tonight about 11 minutes in) so it was a long day. What does the PBR look like this morning? The most important point by far is that there are no serious cuts:
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Alastair darling said the PBR included £5 billion of anti-avoidance measures. The trouble is the PBR report makes no mention of such sum in its detailed calculations – page  10 – where I can find £480 million at most. Which means he must think the Code of Conduct for Banks and the measures on offshore
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I’ve just read the draft legislation on this, available here. It’s good. It covers obvious tricks e.g. disguised employments and loans. It also has a very targeted anti-avoidance provision. The definition of a bank works – as does that of an employee, I suspect. But the real sting in the tail is that not only
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Having spent the PBR tweeting furiously – which seemed to be picked up on over a wide audience – now is the time for first, calm reactions. So, good news first: Spending is to continue; The young and those over 50 are to get special support to find work This is to be paid for
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Labour opens new front in battle with the City | Politics | The Guardian . Two policies I’ve helped promote look like getting prominence in the PBR today. As tghe Guardian notes: Alistair Darling will use tomorrow’s pre-budget report to impose a one-off tax on this year’s bonus round, but No 10 will further step
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FT.com / UK – TUC seeks tax relief cuts for the wealthy. The chancellor could raise £10bn a year by capping the amount of tax relief that can be claimed by those earning more than £100,000 a year at £5,000, Brendan Barber, Trades Union Congress general secretary, said yesterday. The move, he believes, would make
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This letter was in the Telegraph this morning: SIR – With the pre-Budget report due on Wednesday, the Government must put in place measures that secure the recovery. There are signs that the decline in gross domestic product and employment are reversing, but we must not risk a “double dip” recession by slashing public spending
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