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Corporate Tax Restructuring For British Companies In A Downturned Economy

Comment 6th July 2010

This small island nation is continually swamped by foreign made goods which we could manufacture here in Britain. To turn the economy round for this nation we need to be tougher on those who would spoil this nation and it’s economy for their own profit.

Those who import parts or whole goods which we in Britain could manufacture, must be taxed at the highest rate to deter companies from continually flooding this country with cheap imports to the detriment of local manufacturing.

Such companies would be cheap textile and clothing importers, foreign car dealers, amongst many others.

I propose we institute a three band tier of taxation for companies depending on what industry they are in.

LOWEST BAND.

This would apply to British companies manufacturing all goods within the British Isles.

SECOND BAND.

This would apply to those companies who import some of their product, like certain parts to make a product, from abroad to be manufactured here.

HIGHEST BAND.

This would apply to companies who import all their product from abroad, such as importers of foreign cars and motorbikes, television and electronic goods, which flood our shops to the exclusion of British made goods.

Those foreign manufacturers who want to get around this would have to set up manufacturing here in Britain and employ a British workforce, then they can sell their goods here and pay the lowest band of taxation.

Stimulation of local manufacturing sector in Britain is now overdue – successive governments have done nothing to redress the balance. With this severe downturn in our economy the time to act is upon us. It would improve employment, balance of payments deficit, and imbue into the British people new hope for the future.

We in Britain are a sovereign nation and within it’s borders we can do as much as we please – we will not interfere with import tariffs – we will create a new income tax structure within Britain, to lessen the importation of cheap goods on our market – and we have every right to do so.

British manufacturing in this nation will once again reign supreme like it did in Victorian times when we got used to seeing labels saying: “Made In England”.

V.A.T. could be reduced or scrapped on British made goods, but left in place or even raised on foreign made imports.

Those companies who used to dump foreign made goods on the British public for their own profit, would soon find they are making no profit at all.

EXEMPTIONS

Tax exemptions for the highest band who need to import essential equipment or machinery, such as needed in hospitals, could be granted.

UNEMPLOYMENT

We have 2.5 million people unemployed and more coming out of our schools all the time and every effort must be made to close our doors to unnecessary imports ruining our manufacturing base. This proposal is such a way to achieve it. No time should be lost in implementing it. Procrastination will not solve it – action will!

 

Why does this matter?

This document was emailed to all m.p;s for discussion.


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