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    Building and heating materials group Wolseley has announced plans to set up a new holding company in Switzerland in order to reduce its corporate tax bill.
    The firm, which generates 81% of its revenues overseas, said the new company would help the group "achieve a competitive corporate tax rate".
    Wolseley also reported revenues for the year to the end of July of £13.2bn, down from £14.4bn a year earlier.
    However, losses were reduced to £328m from £766m a year ago.
    This was largely due to a fall in operating costs of £353m and a stronger trading performance in the second half of the year.
    Firms that have left the UK to save tax

    • Informa
    • WPP
    • Shire Pharmaceuticals
    • Henderson Group
    • United Business Media
    http://www.bbc.co.uk/news/business-11416320

    Now, this is why the United Kingdom needs a more competitive tax policy. We need to not only keep large businesses here, but we also need to attract more businesses to our shores from other parts of Europe and the world.

    Less tax, means more business, means more jobs, means more government revenue means lower tax/money for spending.
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    (Original post by Teaddict)
    Building and heating materials group Wolseley has announced plans to set up a new holding company in Switzerland in order to reduce its corporate tax bill.
    The firm, which generates 81% of its revenues overseas, said the new company would help the group "achieve a competitive corporate tax rate".
    Wolseley also reported revenues for the year to the end of July of £13.2bn, down from £14.4bn a year earlier.
    However, losses were reduced to £328m from £766m a year ago.
    This was largely due to a fall in operating costs of £353m and a stronger trading performance in the second half of the year.
    Firms that have left the UK to save tax

    • Informa
    • WPP
    • Shire Pharmaceuticals
    • Henderson Group
    • United Business Media
    http://www.bbc.co.uk/news/business-11416320

    Now, this is why the United Kingdom needs a more competitive tax policy. We need to not only keep large businesses here, but we also need to attract more businesses to our shores from other parts of Europe and the world.

    Less tax, means more business, means more jobs, means more government revenue means lower tax/money for spending.
    I agree with you in principle, however I gave up preaching this point of view a long time ago.

    You're banging your head against a brick wall, trust me.

    The champagne socialists have infected the minds of the masses. Everybody just expects free handouts now at the expense of somebody else.
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    But, but, if we tax all the rich people and businesses they won't have the sense to leave. That's what the lefties say!
 
 
 
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