Quote:
Originally Posted by joeysteele
Even if Labour won and increased corporation tax as to their plans,it will still be lower than it was in 2010.
Something has to be raised to pay for other vital things needing funding too.
It is this govt.reducing corporation tax,just one issue, that has helped cause the problems and left the need now for even more austerity.
Austerity which should have been in place for only 5 years but now to run for at least 12 years,not just 5.
Pointless cutting things like corporation tax then see no benefits from doing so really across the UK.
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Exactly.
Its only being raised from 19% to 21% and 26% for the very large companies. 26% isn't high. Its just bringing it closer to other European countries and like you say, its still lower than it was in 2010.
Having CT bellow the basic rate of income tax, as it is now, makes it incredibly easy to avoid tax. What Corbyn is doing is beating the tax avoiders (something we can’t afford not to do)
Low CT gives companies no incentive for investment. The only people its good for are bankers and landlords (oh hang on a minute, I'm a landlord
) Raising CT will encourage investment which will increase growth and that in turn will increase salaries and encourage investment and economic stimulus.
Being a landlord aside, I'm delighted about Corbyns plans on CT because when its as low as it is now, it slows down the rest of the economy. It really has become a big problem.