http://news.sky.com/skynews/Home/Busine ... 9824?f=rss

There's so much spinning going on there (from Sky News alone), that I've awarded it this:

Weird that these creeps who "earn" millions can't get by paying 40% tax (even 50%) but the rest of us who earn a relative pittance are good to pay a "real" tax rate of around 60%+

Funny old world.


Godbye & Good riddance I say!!!

If I was told I'd pay extra tax on my bonus I'd consider moving as well.

It's only the banks we bailed out ( & the ones that caused the problem) that should be hit with the punishment

The objective is, supposedly, to stop the investment houses and banks settling into the same old destructive spiral brought about by chasing short term gain, at the the cost of longer term catastrophy.

The problem is, taxing them to death will just continue to drive them abroad, where they can continue to do as they please; in all likelihood, with less regulation.

Collective responsibility seems to be a hard notion to grasp, when each of them are just focussing on thier next trade.

Rather than taxing them, how about more stringent (global) regulation and harsh penalties for destructive practice?

Sounds like all politicians. Perhaps someone should regulate them too.

Doesn't mention in the article, that they have to spend over half of the year outside the UK to be exempt from UK tax. If they work half a year in the UK and half a year in another country, they have to pay tax in both places, then submit 2 tax returns and claim one of them back again.

That means, for 2009, it is too late. If they move next year, then they will be double taxed until they can prove they are living abroad, then they'll have to go through the process of claiming back the tax from the UK. It also means they can't come back for extended holidays, otherwise they might get clobbered.

I think you have described to motive force behind the politicians too. They can never see past the next General Election.

So, whats the answer? Adopt the American two term limit, in the hope that we will, at least, get four years of sensible governance out of eight?

I think the problem would be that the figurehead might change, but the party policy of retaining power, at all costs, would remain.


Yes, but the city folk who are in a position to move abroad probably have the means to ride it out for the first year, knowing they will be creaming it in from there onwards. Must be nice.