Don’t chuck money at foreigners

It is wrong to hand public money to overseas firms to expand their UK operations

SHOULD THE GOVERNMENT increase taxation on British companies in order to pay large sums to foreign companies? The question may seem silly. Of course the government should not increase taxation in this way, not least because in many cases the British and foreign companies are competitors. However, discussion of these matters is not in the least silly. All too often in modern Britain, politicians and civil servants lose the plot and do things that are against the national interest. In his March Budget, Jeremy Hunt, the Chancellor of the Exchequer, upset many people in the business world by raising the standard rate of corporation tax from 19 per cent to 25 per cent. But he had to do something about the public finances. The budget deficit is forecast to have…

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The Critic (Digital) - 1 Issue, April 2023

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