27 Sep '12, 9am

The importance of embarrassing Dave Hartnett - blog on this week's great video from @IntrudersAction

All this costs us money: HMRC estimates around £35bn a year is lost from avoidance, while one credible estimate suggest the figure is as high as £120bn – just about enough to close the public spending deficit. The quickest and easiest way to start collecting taxes properly would be to hire more inspectors. This is – in a familiar refrain – precisely the opposite of what the Coalition is doing, with job losses mounting at HMRC. 3,300 jobs have gone already in the specialist compliance and collection team charged with closing the “tax gap”. This effort to reign in costs has, naturally, cost us all a small fortune, with the respected Public Accounts Committee estimating £1bn has already been lost through redundancies . For every £1 “saved” through redundancies, they estimate that £10 of revenue is foregone. If the Coalition wants to save cash, it needs to employ more tax coll...

Full article: http://www.neweconomics.org/blog/2012/09/27/the-importanc...

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