TAXMAN FAILS TO COLLECT £35 BILLION – Yesterday meebal.com published an article on the earning differences between those working in the private and public sector. The article clearly showed that having a public sector job certainly pays more and in fact even if you are incompetent you are likely to receive a nice big bonus with added job security.
So what this got to do with the taxman failing to collect £35 billion in taxes owed? The answer is obviously; they are all public sector workers and therefore it is irrelevant if they don’t perform as per the job description.
Yes, despite our perceived outrage over large corporations legally avoiding paying tax, such as Google, Starbucks and Amazon, our own tax collects can’t even balance the books by getting firms to pay up what is duly owed – that’s after any amount that they have managed to legally avoid.
We’re about to witness yet another Public Accounts Committee (PAC) circus as the heads of HM Revenue and Customs (HMRC) is about to be hauled over the coals in order to explain why 7 per cent of all tax owed still remains unpaid despite public anger.
In other words the taxpayer is going to fork out vast sums of money to the PAC panel in order to ask questions where no real answers will be provided and therefore no solutions found.
It is of course a complete and utter farce and waste of taxpayer’s money but that’s never before bothered any public sector worker and certainly not any Minister or MP we know of.
HM Revenue and Customs has of course freely admitted its incompetence in failing to close the tax gap and whilst the public will no doubt be beside itself with rage this will continue to be the case as Britain’s national debt rises beyond £1.4 trillion – some 508 per cent above its national income.
Yes Britain is broke to the point that a bailout could be necessary within the next 5 years or less. In fact when Italy announced bankruptcy its national debt was approximately 314 per cent over its national income and twice the amount of debt Greece had accumulated.
Considering these facts you might think that Government would employ people who are indeed capable of tackling the issues of tax avoidance and indeed tax evasion.
Now you might be thinking that the HMRC would be a little embarrassed at the scale of their failings but unfortunately you would be wrong. According to the HMRC they think they are doing a sterling job for the amount owed in unpaid taxes has actually fallen over the last six years.
Even David Gauke, the Exchequer Secretary, came out to boast that the tax gap continues to fall, noting that the vast majority of businesses and individuals pay their taxes on time.
Is the HMRC or David Gauke actually attempting to justify a £35 billion hole in the Treasury’s finances? It would appear so but it shouldn’t come as much of a surprise to the bewildered taxpayer’s for they should by now expect nothing less than incompetency – we’ve certainly been subjected to it long enough.
Again the other national media news corporations are pointing the finger at Google, Starbucks, Amazon and other large corporations who have avoided paying tax.
Yes in part we can agree that these companies shouldn’t be allowed to avoid paying tax but once again the public appears to be ignorant to the fact that these corporations are only playing by the rules that the Government wrote.
Actually that’s not exactly true. You see Government officials are not capable of writing such complex tax legislation and so therefore they pay top accounting firms such as KPMG to do the job.
Who employs the likes of KPMG? Yes you’ve rumbled it…the large corporations. Yes the level of incompetency is staggering.
Considering Britain’s current national debt any slight rise in interest rates would almost certainly prevent the Government from being able to repay the debt. As such Britain will become bankrupt and we doubt very much if the average British citizen has the faintest idea of what that would mean for Britain and its society.
Here’s a video you need to watch; and we mean you need to watch it, for you are about to witness and finally understand how Britain’s financial system works and the damage welfare, along with other social measures, has done, and continues to do, to our once proud and prosperous nation.