Posted by Christie Malry on January 12, 2013 at 12:44 pm
From his speech today to the Fabians:
Where major corporations are located in Britain, sell in Britain, make profits in Britain but do not pay taxes in Britain.
Which major corporations, Ed? Because I think you'll find that a company that's located in Britain, sells in Britain and makes taxable profits in Britain does pay taxes in Britain.
There may well be companies that are located in Britain, sell in Britain but don't make taxable profits in Britain. Such as Starbucks. There may even be companies that are located in Britain, sell in Britain and appear to be profitable in Britain but don't have taxable profits in Britain because of the legitimate use of tax reliefs such as capital allowances on plant & machinery purchases, R&D tax credits or brought-forward losses.
Or there may be companies that sell in Britain, make profits in Britain but aren't located in Britain. Such as Amazon.
It's improper for the leader of a major political party to insinuate that major corporations aren't fulfilling their responsibilities without firm evidence that this is, in fact, the case. So where's the evidence, Ed?
Or is this just Miliband idiotically finding himself drawn to the latest populist bandwagon like a moth to a flame?