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Why do people oppose the Northern Powerhouse? watch

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    (Original post by kimkarsd)
    Scotland has been legally distinct since 1707.
    And less than 20 years after getting a parliament had pushed for independence.

    Point proven I think.
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    (Original post by JamesN88)
    Although the practice goes against my principles, the North would probably be better off getting full fiscal autonomy and then becoming a tax-haven to swipe bussiness from London.
    The question is how low they would need to go and whether it would actually lead to enough in the short term to succeed, especially with talk of the cutting of Corp tax nationwide being accelerated to 15%. At 15%, especially when coupled with brexit, Ireland loses out, but we're talking about the North.

    What has to be remembered is that there is more than just the tax rate, depending on yje industry infrastructure, for instance, also matters. You also have the cost of moving to consider and other such things. Having a lower rate may entice if all else were equal, but all else isn't equal.

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    (Original post by Jammy Duel)
    The question is how low they would need to go and whether it would actually lead to enough in the short term to succeed, especially with talk of the cutting of Corp tax nationwide being accelerated to 15%. At 15%, especially when coupled with brexit, Ireland loses out, but we're talking about the North.

    What has to be remembered is that there is more than just the tax rate, depending on yje industry infrastructure, for instance, also matters. You also have the cost of moving to consider and other such things. Having a lower rate may entice if all else were equal, but all else isn't equal.

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    Yeah you're probably right.

    Just an off the cuff idea that wasn't really thought through properly on my part.
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    (Original post by JamesN88)
    Although the practice goes against my principles, the North would probably be better off getting full fiscal autonomy and then becoming a tax-haven to swipe bussiness from London.
    I'd rather not lead a race to the bottom.

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    Can someone convince me that the Northern Powerhouse isn't a complete waste of time and money?

    Investment is all well and good but I don't see businesses choosing anywhere else but London to operate in.
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    (Original post by BasicMistake)
    Can someone convince me that the Northern Powerhouse isn't a complete waste of time and money?

    Investment is all well and good but I don't see businesses choosing anywhere else but London to operate in.
    The idea of giving Northern cities more autonomy was good in principal but in reality it was just a way for the Tories to reduce funding to labour areas while giving them more power, so that people would blame labour, not the Tories for shortfalls.

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    (Original post by Bornblue)
    I'd rather not lead a race to the bottom.

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    Is anything not a race to the bottom to you?

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    (Original post by Bornblue)
    I'd rather not lead a race to the bottom.

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    More of a **** you to Westminster - aka the govt of London and its commuter belt.
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    (Original post by JamesN88)
    More of a **** you to Westminster - aka the govt of London and its commuter belt.

    We can do that in other ways than reducing the tax burden that corporations contribute. Corporation tax is already very low.
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    (Original post by BasicMistake)
    Can someone convince me that the Northern Powerhouse isn't a complete waste of time and money?

    Investment is all well and good but I don't see businesses choosing anywhere else but London to operate in.
    It depends on the firm.

    London is where multinational firms put their HQ's because it has a large and skilled labour force plus they can afford to invest in facilities there.

    For small business and manufacturers it's less important to have the most skilled accountants and lawers in the world near you and more important that you have a large number of consumers and low costs, hence places like Manchester become more attractive and are mainly competing with the secondary European cities.

    Moral of the story is that Deutche Bank is never going to relocate to Leeds, but it's entirely possible that an Indian or Chinese car manufacturer might.
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    (Original post by kimkarsd)
    does it make sense to oppose development?
    when it is not the best value for money yes, it does make sense to oppose development, as more development could be done elsewhere
 
 
 
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