Anglo-German relations
Posted by Christie Malry on November 5, 2012 at 10:48 pm
The shorter version: Men make soothing words about stuff they can't control.
However, this bit is interesting:
Britain has the lowest rate of corporation tax in the G7, and has cut its rate by more than any other G20 country over the past two years (from 28% in 2010 to 22% by 2014). In the last year, around half of the £136bn of taxes paid in the UK by the biggest businesses, came from foreign-owned businesses; while inward investment created or safeguarded more than 100,000 jobs.
This isn't a very well written paragraph. Because the UK raises nowhere near £136bn of corporation tax. Do they mean £36bn (which very approximately what corporation tax actually does raise... well, a couple of years ago, anyway)? Do they mean £163bn (which is the total tax contribution of British business according to the CBI)?
What do they mean?
It's the old total tax contribution trick, surely? PWC comes out with a figure like this every year.
That's what I thought too. But I could only find a figure for the FTSE100 from PwC, which was a lot lower than what the Future article quoted. Wish they would hyperlink to their sources...