24 Jul '12, 4pm

Tax avoidance has become its own economy - valued at £13tn, it dwarfs the collective value of all UK assets

Tax avoidance has become its own economy - valued at £13tn, it dwarfs the collective value of all UK assets

The companies that make millions of pounds each year from enabling individuals and corporations to avoid tax are not "cowboys" as suggested by the Treasury. From banks to accountancy firms and corporate lawyers, some of the biggest businesses in the world are part of the fabric of global tax avoidance. These companies are not moral entities that we can shame into paying their fair share; they exist to maximise their profits and those of their clients. Nor should we equate the small sums of money lost to HMRC through cash-in-hand transactions with the billions of pounds deliberately funnelled out of our economy each year through systematic corporate tax avoidance. They may be morally similar but their economic impact is worlds apart.

Full article: http://www.neweconomics.org/blog/2012/07/24/forget-plumbe...

Tweets

How Aussies are adapting to the carbon tax

How Aussies are adapting to the carbon tax

greenbiz.com 25 Jul '12, 3pm

This month, Australia introduced a carbon tax that will require about 300 mining, energy and other industrial firms to pay...

Tax avoidance is an issue of economic inequality

Tax avoidance is an issue of economic inequality

neweconomics.org 27 Jul '12, 3pm

We need to move this idle wealth sitting at the top into the hands of those more in need and into more productive use. Tax...

Ford C-Max Energi plug-in hybrid priced at $33,...

green.autoblog.com 24 Jul '12, 11am

C-MAX Energi Becomes America's Most Affordable Plug-In Hybrid as Ford Cuts Hybrid Technology Costs by 30 Percent C-MAX Ene...