Firstly, sorry for the low levels of blogging recently. I am working on a new site, waiting for some outside developers. Secondly I am working on completely new Revision Guides for the new economic syllabus coming out soon.
It meant I didn’t do much blogging around the general election – which is perhaps a blessing in disguise. It still annoys me it is so hard to separate fact from political spin (e.g. Government spending under Labour government)- but that’s life.
I do try to be ‘balanced’ – though I’m not sure how good a job I do…
I genuinely think George Osborne has been a bad chancellor. Everything seems motivated from a political standpoint, not an economic standpoint.
Having said that – I feel very relieved that at last I have found something that Osborne has done that seems a good policy.
Diverted profit tax
This is a scheme to put a punitive 25% tax on companies who are considered to be artificially routing profits overseas. A very good example is Amazon.com – making £5.3bn of sales in Britain but routing it through Luxembourg to avoid British tax.
It seems to be working with Amazon finally giving up their obvious tax avoidance. (Guardian article)
- Diverted Profit tax at gov.uk