Jump to content

Nice to see the House of Lords telling as it is.


CliveH

Recommended Posts

Another one from the "Pinks"

...............................

 

Finance Act slammed by Lords for complicating tax rules

 

The Finance Bill 2013 received Royal Assent and became the Finance Act 2013 yesterday (17 July) after its second reading in the House of Lords.

 

By Emma Ann Hughes | Published 08:39 | FT Adviser

 

Peers have questioned why the tax system is getting ever more complex and if enough is being done to force multi-nationals to add more to the nation’s coffers, during the second reading of the Finance Bill.

During the second reading of the Finance Bill in the House of Lords, Baroness Wheatcroft, said the coalition government needed to go a lot further in simplifying tax.

 

She said since the Office of Tax Simplification was created in July 2010, tax has not become much simpler.

 

Baroness Wheatcroft said: “The latest edition of Tolley’s Tax Guide now runs to 16,220 pages.

“The individual guides on income tax, corporation tax and capital gains tax each run to more pages than War and Peace. There must be progress that we can make there; I would like to think so.”

Lord Davies of Oldham used the second reading to question whether the coalition government was directing the cash in its coffers in the right direction.

 

He said: “The IMF made clear to the government what could be done with investment.

 

“It said that £10bn in social housing could produce circumstances in which 400,000 houses could be built and 600,000 jobs could be created. What have the government done on that front? Nothing that any of us could notice.

 

“Meanwhile, this Finance Bill also causes affront to our people. This is not only over the question of how strongly it will address the issue of corporate taxation for the multi-nationals and those who do not pay their proper tax.

 

“How can one talk about fairness in our society when millionaires are singled out for the top-rate tax cut, and when hedge funds get a cut on their investment position as a result of the Bill?”

 

……………..

 

Quite!

 

Link to comment
Share on other sites

In many ways i wish that that were true Dave.

 

But the trouble is that Farage is more than a bit of a wet end and once you get him off the obvious topic of the UK's relationship with the EU, you realise what a lightweight he is.

 

And as for the Hamiltons - best thing Ukip could do would be to politely show them the door and close if firmly behind them once they were out.

 

I am not against the EU - as a trading block it makes sense and has worked well. It is failing now due to the stupidity of some who want a United States of Europe with the single currency the Euro.

 

The EU also works well by way of giving all EU citizens certain rights over the excesses of their own local governments. We have seen many an appalling decision in the UK Courts overturned at European Level.

 

The best example from my professional viewpoint was the EU telling the UK that it was NOT ok to discriminate against part-time employees re pension scheme membership. UK law was proved to be unfair and discriminatory and was changed.

 

Many Many people in the UK have reason to be thankful for the "Oversight" that the EU has on our "establishment".

 

Sadly what has happened now is that via the Euro we are up against an even bigger "establishment".

 

It is the Euro that need to go!

 

Not the EU.

 

 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...