This letter is in the Jersey Evening Post today:
Click on the image for a larger version.
As we suggest, Jersey is still a tax haven: this leopard has not changed its spots.
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As a newcomer to all this I am baffled. If lower tax rates do not attract investment and create jobs why are so many banks and financial firms have operations in Jersey. I mean if the lower tax rates are not needed and don’t work why have them?
They move portfolio funds – shareho,di go etc – but not real investment
Nothing happens in Jersey remember – it’s all just a book keeping exercise
If you want proof look, for the factories, universities and R & D there. You won’t find any
Now that doesn’t mean there are no finance jobs in Jersey: there are. But the world can only afford so many parasites and it had more than enough already
No correlation between low corporate tax rates and economic growth?
One word – Ireland
Utter nonsenae
It was European money that made Ireland
It had nothing to do with low tax
Nonsense. You think all the US corporates would have set up in Ireland if Irish corporate tax rates were 30% rather than 12.5%?
But do you honestly think they add much to the Irish economy either?
That GDP they bring in all flows out again: this is, as Paul Krugman rightly put it, leprechaun economics
Ireland simply permits an abuse whose benefit is elsewhere. It is time it had the self confidence to move on
No Richard, European money did not make Ireland. The European market made Ireland an economic success, that and being free at last of British rule.
http://www.taxjustice.net/2015/03/12/did-irelands-12-5-percent-corporate-tax-rate-create-the-celtic-tiger
That’s a completely wrong interpretation of that chart
The EU money came in
Then the products were made
Then the growth happened
And the tax cuts followed
The chart confirms that
And I know – before the EU made the roads half of Ireland couldn’t export a thing
Trevor please don’the keep repeating this nonsense about Ireland. The American corporates are not there for the 12% tax rates; they are there for the zero tax rates that Ireland let’s them pay by passing on their profits to their tax haven subsidiaries. This is something that Ireland does not allow its indigenous businesses to do hence all the fuss about state aid.
Agreed
Shared on Facebook as a great example of how to swat the trolls.
They fought back in the same edition
But our politicians are foolish.