We are currently losing billions and billions of pounds in Corporation Tax every year because other countries have lower tax rates. Amazon, Starbucks etc pay no CT at all.
Ok so lets look at things differently. Big corporations pay their taxes in countries where the %age is advantageous to the company ie why pay 50% here when they can pay 40% elsewhere (not the real figures).
What George needs to do is make those companies want to pay their taxes here.
So surely if we set our corporation tax at 30% then the big boys will be falling over themselves to pay taxes here. Not only that but other companies who don't have offices in the UK will also want to take advantage of the lower tax rates.
OK so we will not get all the taxes we should now get, but we will get a lot and possibly a lot more on top. 30% of something is better than 50% of nothing.
It’s a win win situation, No?
So now I have sorted this out can I be the next Chancellor of the Exchequer, well I have more qualifications than George ‘the Nob’ Osborne.