RE: Support a tax on excessive wealth4 Aug 2025 12:52
In my view the taxation issue is that the UK leads the world in tax avoidance and other frankly quite shady financial practices by effectively outsourcing the dodgyness to offshore financial centres, specifically set up for that purpose. See Netflix on The Spiders Web .
Domestically owned businesses aren't playing on a level playing field with larger corporations which minimise their legal tax liabilities through tax avoidance schemes. Compare and contrast a family owned coffee shop and an international brand. See how various tactics are used to effectively export the taxable profit to a more favourable domicile. This is why the high street (what's left of it) is increasingly a bland replication of the same outlets characterised by a low wage, insecure employment, proceduralised work practices, highly "brand penetration", devoid of any character and as a workplace a moronic drudge.
Real value added industries have been demolished and outsourced to low wage, low worker welfare countries and it seems only now that the security of the means of production has become an apparent problem that needs addressing (CREM is just one example). Are any Tshirts made in UK ?
All this La-La land economics, fuelled on consumer debt of a train of money printing (albeit electronic money, as the 1844 Bank Charter Act limited uncontrolled paper money printing, but it largely has the same malign effect, well understood.