Daily Archives: June 4, 2017


The Three Most Important Facts About Tory Economics

1) From 2010 to 2017 Corporation Tax in the UK reduced drastically from 28% to 19%

The UK now has notably lower corporate tax rates than most other large developed countries

On top of which HMRC has a particularly accommodating attitude to corporate tax avoidance.

2) But the corporations have not put any of the cash from this massive tax cut into investment


3) Rather all of the corporation tax giveaway has gone straight into the pockets of the rich, through massive executive pay increases and shareholder dividend increases.

I am sorry I could not find a more up to date version than 2015 of that chart, but it has got no better, and it illustrates well how since 2010 the corporation tax rate cuts in the UK – the green line – have resulted in a ludicrous explosion of dividends to earnings compared to international norms.

So the Tory corporation cuts have done nothing to help the wider economy at all, but simply lined the personal pockets of the already rich. It has almost no effect in stimulating the wider economy, and to reverse the cuts in corporation tax to pay for public sector investment is both prudent and likely to be effective in boosting economic growth.

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Amber Rudd Prevents Independent Candidate Questioning Arms Sales to Saudi Sponsors of Terrorism

In this hustings clip, independent candidate for Hastings and Rye Nicholas Wilson is linking the Manchester bombing to Tory support for arms sales to Saudi Arabia. Home Secretary Amber Rudd can be clearly seen writing a note, passing it to the chairman and speaking to him. He then immediately intervenes to stop Wilson speaking and takes the microphone from him.

I don’t have the name of the chairman who looks like a corrupt, overfed, complacent, Tory, Church of England vicar straight out of Trollope. But as soon as I get his name, I will publish it.

UPDATE

What is happening to the understanding of democracy in this country? I just got a call saying the Residents’ Committee of the apartment block where I live were instructing me to remove the SNP poster from my balcony (It is a small A3 poster). My reply was extremely rude, I am afraid, and I have now put up a second poster.

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An Unpopular View

I expect some criticism for saying this. But allowing terrorism to disrupt our democratic processes incentivises terrorists. Personal attention seeking, and the idea that their self-sacrifice will have an impact on the world, is part of the deranged psychology that motivates suicide bombers. To suspend the election campaign again following another dreadful terrorist attack, actually will boost the prestige of the act in the eyes of their supporters and potential future terrorists. If we react in this way, we are promoting the chances of a wave of such attacks every time we have an election.

I abhor and condemn last night’s attack and am dreadfully sorry for all victims, dead and injured, and for their family and friends. But it would serve the memory of the dead better if we reacted by continuing calmly with our democracy, and showed that their killers cannot win, cannot affect us.

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