Government cuts tax bill for big companies, unsurprisingly

30 January 2014

tax The Government, in their infinite wisdom, have cut the tax bills of loads of our biggest companies by around a quarter in 2013. Politicians think this will cut our debts. Everyone else thinks this is an example of a two-tier rule book.

While companies like Google and Apple make insane amounts of cash, they pay very little tax in the UK, and a group surveyed (which includes some of the biggest UK companies) said their corporation tax bills fell 26%, on top of hefty drops in previous years.

David Cameron has said that this is a bid to encourage businesses to come over here and invest and create jobs.

The 100 Group, including most businesses that appear on the FTSE 100 Index of major businesses, had a tax bill of £6 billion pounds in a survey conducted by PricewaterhouseCoopers (PwC). The 100 Group's tax bill has steadily dropped since 2006, when members paid £12.6 billion in corporation tax.

A spokeswoman for the finance ministry said: "Our major corporation tax reforms, part of the government's long-term economic plan, are supporting jobs, growth and investment, and playing a critical part in delivering a sustainable economic recovery."

Does that make you feel better?

TOPICS:   Tax   Economy

7 comments

  • Swagged J.
    get rid of the trolley.
  • Merkin G.
    I've come round to it now, it gives me a sense of safety and home, I'm comforted by the fact that whatever crap they write there will always be one constant sitting just to the right of the screen.. No I've changed my mind again - GET IT OUT Satan's Trolley
  • John h.
    I hate it.
  • Craig
    And what has Nigel Mansell to do with this story?
  • Merkin G.
    He's got TAX tattooed on his face Craig
  • hypocrite j.
    Yeah Craig you fuckwit.
  • Trolley B.
    Get me out of here

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