Wednesday, March 23, 2011
Corporation Tax - Raise in Bank Levy - HUGE Con by Conservative Government.
Listening to the chancellor gloating about reducing corporation tax, again have just spotted a huge con. He said that he is reducing corporation tax but is raising the bank's levy to off-set the lower corporation tax. This is a colossal sleight of hand by the chancellor, Barclays bank in 2009 made billions of pounds in profit yet it paid just £113 million pounds corporation tax. So it really does not matter how much corporation tax is lowered, if there remains loopholes in which banks like Barclays can use to pay less corporation tax, it matters NOT what corporation tax is set at!
Posted by Gracie Samuels at 1:29:00 PM