I’m still not convinced we are out of recession here in the UK, its all manipulated figures and smoke and mirrors. Yesterday I read that the Eurozone is still in recession as its GDP falls by 0.2%. But it’s not just the small EU countries fuelling this, Frances economy shrunk and Germany’s is practically stagnating.
It does seem that in many countries austerity isn’t working, even here in the UK despite the press spinning figures to say differently. Cutting services here in the UK has caused people hardship rather than helping because the costs the government have cut haven’t really saved them any money.
Many people still think that collecting taxes owed is a better idea and to halt tax breaks for the rich and big business. Recently tax breaks were given to movie studios producing films here in the UK, somewhere which hasn’t been popular over a number of years. These breaks will work and once companies are established here they can be removed. Tax breaks for big corporations already established can be removed, there is no need to let large companies such as Starbucks and Amazon not pay full tax liabilities, close the loopholes, these companies aren’t going anywhere. Offer, establish, remove, simple as.
Small companies need better tax breaks as well; they can’t compete with the bigger businesses that have favourable payment options with the HMRC. They get more pressure of banks and government red tape costs them money not to mention big business suppliers not paying their invoices on time, leading to the use of invoice factoring to recoup monies owed albeit at a loss.
We have to make all business viable rather than just looking after the select few who take politicians out for dinner; otherwise we can’t make any money to get out of this mess.