If all the companies in the UK paid their correct amount of Corporation tax then not only would we not have a deficit but possibly a surplus.Virtually every middle to large company in this country is legally avoiding tax.Some liablities are reduced from £4-5million to just a few hundred thousand.With Multinational corporations, the figures is yet to be fully disclosed.No government has ever attempted to close the loophole. Too many fingers in the pie. Most companies could reduce the tax liability a different way, by giving staff salary increases, but as most people in the private sector will already know, pay rises are either non existent, pay cuts or minimal and far between.Nothing new, people in the media industry in London are lucky to have had any sort of pay rise in the last 12 years and generally work far longer hours than 12 years ago to boot.CEO's,directors and shareholders do better than they ought from this cosy deal.So those in the public sector are a lot luckier than they might think.
Anthony Waller ● 5490d