{"id":396,"date":"2015-11-02T00:00:00","date_gmt":"2015-11-02T00:00:00","guid":{"rendered":"http:\/\/slacc.wpengine.com\/index.php\/less-is-more\/"},"modified":"2015-11-02T00:00:00","modified_gmt":"2015-11-02T00:00:00","slug":"less-is-more","status":"publish","type":"post","link":"https:\/\/slacc.co.uk\/index.php\/less-is-more\/","title":{"rendered":"Less is more"},"content":{"rendered":"<p>\n\tIn order to increase tax revenues&nbsp; the Treasury is faced with a conundrum:<\/p>\n<ul>\n<li>\n\t\tTo increase rates of tax charged and hope that this does not prove to be a disincentive to increase profits and investment, or<\/li>\n<li>\n\t\tTo decrease rates of tax charged and hope that this proves to be a stimulant to business growth.<\/li>\n<\/ul>\n<p>\n\tThe Financial Secretary, David Gauke, recently made the following remarks at an international tax conference:<\/p>\n<p>\n\t<em>&ldquo;The results we are seeing on the ground since we started cutting Corporation Tax have been very encouraging. We&rsquo;ve seen business investment increasing &ndash; with a record number of inward investment projects last year &ndash; and some early signs of improvements in productivity&hellip;<\/em><\/p>\n<p>\n\t<em>And, interestingly, we&rsquo;re also seeing Corporation Tax receipts strengthening.<\/em><\/p>\n<p>\n\t<em>Between 2010 and 2014 &ndash; that is, during the time that we cut the headline rate from 28% to 21% and cut the small companies rate &ndash; annual receipts increased by 12%.<\/em><\/p>\n<p>\n\t<em>And if you strip out the financial services sector (where receipts have been heavily affected by losses built up in the financial crisis), Corporation Tax receipts rose by 16% between 2010 and last year.<\/em><\/p>\n<p>\n\t<em>That&rsquo;s a real terms increase in receipts over a period where the headline rate has been cut by a quarter.&rdquo;<\/em><\/p>\n<p>\n\tSo maybe less is more?<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>In order to increase tax revenues&nbsp; the Treasury is faced with a conundrum: To increase rates of tax charged and hope that this does not prove to be a disincentive to increase profits and investment, or To decrease rates of tax charged and hope that this proves to be a stimulant to business growth. The [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-396","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=396"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/396\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}