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.... . Democrats have also criticised Mr Mnuchin's claim that economic growth would create enough new tax revenue to cover the corporate tax cuts. ... [Read full article on BBC ]
Wednesday 26th of April 2017 12:20:53 PM
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.... He's also proposed an amnesty period when corporations holding cash overseas can repatriate the money at a discounted rate. But the main way they say it will be paid for is through increased economic growth - this spurs tax revenue. ... [Read full article on BBC ]
Wednesday 26th of April 2017 03:35:41 PM
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.... So one of three things is going to happen: first, Trump’s plan may indeed lead to a doubling of the US growth rate and be self-funding, although recent economic history suggests otherwise. Second, the president will have to find cuts in spending to balance the loss of tax revenue. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 03:33:00 PM
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Latest Finance News related to Tax Revenue

In the small print image
Source : BBC [Read Article] Wednesday 26th of April 2017 03:35:41 PM
.... He's also proposed an amnesty period when corporations holding cash overseas can repatriate the money at a discounted rate. But the main way they say it will be paid for is through increased economic growth - this spurs tax revenue. ...
Voodoo Reaganomics won't save Trump on the Hill | Larry Elliot image
Source : Guardian [Read Article] Wednesday 26th of April 2017 03:33:00 PM
.... So one of three things is going to happen: first, Trump’s plan may indeed lead to a doubling of the US growth rate and be self-funding, although recent economic history suggests otherwise. Second, the president will have to find cuts in spending to balance the loss of tax revenue. ...
Trump seeks tax windfall for business image
Source : BBC [Read Article] Wednesday 26th of April 2017 12:20:53 PM
Presidential challenge image
Source : BBC [Read Article] Thursday 20th of April 2017 03:10:40 PM
....The IMF says that fiscal dynamics could easily derail, if for example economic growth is a lot weaker than expected. What it means by that is that the debt burden could rise quite rapidly if weak economic growth undermines tax revenue. ...
Labour plans clampdown on 'sweetheart deals' to close £36bn tax gap image
Source : Guardian [Read Article] Friday 14th of April 2017 11:01:09 PM
....“This government has a simple message for those who avoid tax: you must pay what you owe and we will make sure you do. “After thirteen years of Labour doing nothing we have led the way on tackling tax evasion, avoidance and non-compliance, securing an additional £140bn in additional tax revenues since 2010. ...
Donald Trump’s tax holiday 'would help top US companies save $300bn' image
Source : Guardian [Read Article] Wednesday 12th of April 2017 04:00:25 AM
....Ana Arendar, Oxfam’s head of inequality, said: “These companies have deepened their use of tax havens and increased efforts to build influence to push for even greater tax breaks than they already have. Corporate tax dodgers cheat the US out of approximately $135bn in unpaid tax revenues every year and poor countries out of an estimated $100bn annually. ...
Bank of England orders financial firms to draft Brexit contingency plans image
....Worries about a hard Brexit that leaves UK-based financial firms with little access to the EU have forced many companies to unveil plans to move jobs out of London. That in turn has prompted warnings about a blow to tax revenues for the exchequer and to the UK’s economic growth prospects. ...
North Sea oil and gas industry cost UK taxpayer £396m in 2016 image
Source : Guardian [Read Article] Tuesday 4th of April 2017 12:25:40 PM
.... Another study said the cost could be as high as £75bn. In total, the oil and gas sector has contributed about £190bn in tax revenues since the 1960s, not adjusted for inflation. ...
Up to 100,000 UK jobs at risk as Merkel and Juncker ally warns on euro clearing image
....”. The Liberal Democrats’ treasury spokesperson, Susan Kramer, said: “The hard Brexit chosen by this government is set to take a wrecking ball to the UK financial sector, threatening thousands of jobs and billions of pounds of tax revenue. ...
A ‘jobs miracle’ that leaves millions worse off | Observer editorial image
.... Insecure employment also carries huge costs for the state. The TUC estimates the cost of low-paid self-employment and zero-hours contracts to be £4bn a year in foregone tax revenue and spending on tax credits and benefits. ...
Aberdeen wrestles with hard choices as independence looms again image
Source : Guardian [Read Article] Saturday 18th of March 2017 03:59:43 PM
....The North Sea oil industry has been a cash cow for the UK Treasury since the early 1980s. Now that it is largely spent, both as a reservoir of flammable carbon and as a source of tax revenues, an independent Scotland would need to look elsewhere for growth. ...
Ikea drivers living in trucks for months image
Source : BBC [Read Article] Wednesday 15th of March 2017 12:00:20 AM
.... . "There is a road safety risk, and the Treasury is losing a fortune in tax revenue. ...
The Scottish economy has strengths – but could it make a success of independence? | Larry Elliott image
.... According to estimates made last year by the Institute for Fiscal Studies, Scotland will have a budget deficit of more than 9% of GDP this year, more than three times as big as that for the UK. As the IFS noted, Scotland is insulated from the consequences of its spending being higher than its tax revenues because the UK government hands Edinburgh a block grant each year that covers non-devolved items such as defence and social security. ...
We will all need a stiff drink to swallow Hammond’s austerity image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
....Yes, the Conservative party that for a long time believed the state had no role to play in industrial policy is now rediscovering the wheel – but has dismissed Michael Heseltine, who did not need to rediscover it. And the Treasury is placing great emphasis on the importance of “productivity” – ie the supply side of the economy – to provide the future growth on which higher living standards and tax revenues ultimately depend. ...
It’s not true that the top 1% pay 27% of tax | Letters image
Source : Guardian [Read Article] Friday 10th of March 2017 06:14:35 PM
.... No – this is wrong. The top 1% of earners pay 27% of income tax, but income tax raises just 27% of the UK’s total tax revenue. ...
Landlord tax: How to beat new buy-to-let charges coming in NEXT month  image
Source : Daily Express [Read Article] Friday 10th of March 2017 04:44:00 PM
....“While commercial loans are available to non-incorporated landlords they tend to be a source of funding more commonly used by limited companies looking to expand their property portfolios, so we’d expect to see this trend develop as the year plays out. “However, we know that the Treasury is concerned by the drop in tax revenues as a result of businesses across the economy incorporating to reduce their tax bills, and the Chancellor hinted at a review into the matter during his Autumn Statement last year. ...
The shameless Tories have betrayed the self-employed – and themselves | John Harris image
.... They need help with parental leave, new insurance models that will cover them as and when they fall sick, a more optimistic understanding of their retirement than is provided by wafer-thin private pensions, and a breakthrough on the widespread problem of self-employed people finding it chronically difficult to access mortgages. But most of that stuff will cost, which gets us back to the same point: sooner or later, not least because rising self-employment seems to go hand-in-hand with falling tax revenues, the new economy will demand that the great distant behemoths who make so much money out of changing work practices will have to cough up (as much as anything to ensure that the rest of us can afford their services). ...
Budget tax rise image
Source : BBC [Read Article] Thursday 9th of March 2017 01:40:23 PM
....Average wages for self-employed workers were lower last year than in 1994-95, research from the Resolution Foundation suggests, although it also says that the rise in self-employment was driven by higher earners. The Treasury is missing out on some tax revenue as a result. ...
Institute for Fiscal Studies backs National Insurance increase image
Source : BBC [Read Article] Thursday 9th of March 2017 01:00:13 PM
....". He added that as more workers became self-employed and "incorporated" by starting up their own companies, it would reduce tax revenues for the government. ...
Budget 2017: NHS, families, cars - your questions answered image
Source : BBC [Read Article] Wednesday 8th of March 2017 05:14:18 PM
....What a good question. Some economists argue that low tax rates in fact lead to higher tax revenues, as tax payers become less inclined to dodge the tax in the first place. ...
Chancellor's budget to build up Brexit reserves, not tackle NHS crisis image
. Philip Hammond is expected to use Wednesday’s budget to announce that tax revenues will be used to build up a reserve to deal with uncertainties arising from Brexit, rather than increase spending on the health service. ...
Fixing America's failing infrastructure won't be easy, despite Trump's pledge image
....Even with gas taxes set to increase in some states, ITEP’s report noted some problems inherent in such a system of revenue collection. Not the least is that vehicles are, on average, 17% more fuel efficient than in 1990, cutting into fuel tax revenue. ...
London loses out in business rates revamp image
Source : BBC [Read Article] Saturday 4th of March 2017 12:07:28 AM
.... . In the 2004-5 tax year London's taxes - including income tax, corporation tax and stamp duty - accounted for 25% of Britain's overall tax revenue. ...
Germany overtakes UK as fastest-growing G7 economy image
Source : Guardian [Read Article] Thursday 23rd of February 2017 03:21:32 PM
....A strong economic backdrop has helped Germany post a record budget surplus of €23. 7bn in 2017, fuelled by higher tax revenues, rising employment and low debt costs. ...
Booming gig economy costs £4bn in lost tax and benefit payouts, says TUC image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:01:36 AM
.... It’s punching a massive hole in the public finances too,” said TUC general secretary Frances O’Grady. “Zero-hours contracts and low-paid self-employment are costing the economy billions every year in lost tax revenues. ...
Can post-Brexit London survive as Europe's cultural and financial capital? image
.... London, after all, is a city whose electorate diverged strongly from the rest of the country and while its EU nationals were unable to vote in the referendum, many of them work in sectors crucial not just to London’s economy, but to the UK as a whole. As successive mayors often point out, London generates a huge surplus to the Treasury, and is responsible for almost 30% of the national tax revenue. ...
Corbyn’s wage cap plan labelled unworkable but keeps pay on agenda image
Source : Guardian [Read Article] Tuesday 10th of January 2017 08:05:41 PM
....“If you’re saving for a pension, this is bad news: the value of your savings will suffer as British firms become less productive, starved of global top talent. If you rely on the NHS or other public services, this is bad news: tax revenues will fall as these highly-paid executives move abroad. ...
Labour 'finds £2.6bn black hole in Treasury's tax avoidance measures' image
Source : Guardian [Read Article] Friday 23rd of December 2016 07:00:09 AM
....“In this year’s autumn statement, we announced over 30 measures that will tackle avoidance, evasion and aggressive tax planning, which will raise £18 billion over the next five years. This builds on action already taken to secure £130 billion in additional tax revenue through tackling avoidance, evasion and non-compliance since 2010. ...
MPs are right to question Bank of England's monetary policy image
Source : Guardian [Read Article] Thursday 22nd of December 2016 01:26:00 PM
.... Monetary policy has been hyperactive while fiscal policy – tax and spending – has been sucking demand out of the economy. The theory behind austerity was that monetary stimulus would generate the growth and the tax revenues to enable the government to fix the hole in the public finances. ...
Computer error blamed for HMRC blunder in Scotland image
Source : Guardian [Read Article] Monday 19th of December 2016 06:54:44 PM
....But Scottish Labour’s Westminster spokesperson Ian Murray said the error raised serious questions about HMRC’s capacity to administer the new tax powers. “It is vital that businesses and taxpayers have all the information they need so that such errors are not repeated and that any disruption to taxpayers and future tax revenues is minimised. ...
What the US economy doesn't need from Donald Trump | Joseph Stiglitz image
Source : Guardian [Read Article] Monday 19th of December 2016 11:19:56 AM
....Large tax cuts and large expenditure increases inevitably lead to large deficits. Reconciling this with Trump’s promise to reduce the deficit will probably entail a return to Reagan-era magical thinking: despite decades of proof to the contrary, this time the stimulus to the economy brought by tax cuts for the rich will be so large that tax revenues will actually increase. ...
Airbnb a solution to middle-class inequality, company says image
Source : Guardian [Read Article] Tuesday 13th of December 2016 01:01:57 PM
....Last Wednesday, Airbnb released its “policy tool chest”, presenting local governments with options for how they can benefit from home sharing. It followed legislation passed in New Orleans that directed a portion of tax revenue to the construction of affordable housing. ...
Our problem isn’t robots, it’s​ ​the​ ​low-wage car-wash economy | Paul Mason image
.... Third we have to redistribute wealth downwards instead of upwards. If Theresa May’s government was actually listening to Carney (instead of trying to undermine him as in reality), they should scrap Philip Hammond’s austerity targets, raise tax revenues, shut down tax havens and take decisive measures to end the creation of low-wage, low-productive jobs. ...
Keynesian economics: is it time for the theory to rise from the dead? image
Source : Guardian [Read Article] Sunday 11th of December 2016 12:52:51 PM
.... Governments committed themselves to maintaining demand at a high enough level to secure full employment. They recycled the tax revenues that accrued from robust growth into higher spending on public infrastructure. ...
Uber is treating its drivers as sweated labour, says report image
Source : Guardian [Read Article] Friday 9th of December 2016 01:51:59 PM
....He said ordinary taxpayers were suffering because companies in the gig economy, where people do predominantly short-term, casual work, were failing to carry a fair share of the risks of business. “This is what has blown a hole in the government’s projections for tax revenue. ...
McDonald's to scrap Luxembourg tax structure image
Source : Guardian [Read Article] Thursday 8th of December 2016 05:11:31 PM
.... In October last year, G20 leaders agreed a radical overhaul of international tax rules designed to stamp out such loopholes. The Organisation for Economic Co-operation and Development, a thinktank for developed economies responsible for drawing up the revisions, has estimated that, even on conservative assumptions, large global businesses were shifting profits and eroding the tax receipts of economies around the world at a cost of $100bn-$240bn (£65bn-160bn) a year – equivalent to between 4% and 10% of global corporation tax revenues. ...
Opec doesn’t hold all the cards, even after its oil price agreement image
Source : Guardian [Read Article] Saturday 3rd of December 2016 04:00:26 PM
.... That in turn has cost jobs, hit tax receipts and blown a hole in Scotland’s public finances. Scotland’s deficit ballooned last year as its share of North Sea oil tax revenues collapsed to £60m from £1. ...
Pension age may be about to rise again, says former minister image
Source : Guardian [Read Article] Monday 28th of November 2016 12:01:14 AM
....Willis Towers Watson said that if the decision had to be about how to take money off the public rather than whether to do so, “later retirement may appear more palatable than higher tax rates for (often) the same people”. It added: “Later working can boost economic output and tax revenues, too. ...
Of course the forecasts are bad: no one has a plan for Brexit image
Source : Guardian [Read Article] Sunday 27th of November 2016 07:00:54 AM
.... Thanks to the combined impact of the financial crisis and the austerity programme, the OBR had already revised downwards its estimates of the country’s productivity and the growth of productive potential; this revision took place between last November’s autumn statement and the March budget. Then came the referendum, and the net result of feverish work going on at the OBR since then is that the fallout from Brexit – indeed, from the very prospect of Brexit – is that the outlook for productivity growth has been revised downwards again, with all that this implies for living standards and the tax revenues that go to finance public spending. ...
The backpacker tax is a textbook case of how not to develop policy | Greg Jericho image
....75 in tax, or $13 cash-in-hand?. This would not only reduce the tax revenue, it would undercut the wages of Australian workers and place holiday workers outside the system – thus, ripe for exploitation – something the Fair Work ombudsman has already found happens in abundance. ...
Chancellor's looser finance targets highlight weaker UK economy image
Source : Guardian [Read Article] Thursday 24th of November 2016 08:00:28 AM
....The OBR heaped much of the blame for its forecast of a widening deficit on a dip in GDP growth next year and 2018, higher inflation and weaker earnings. In its lengthy report, it also explained how a shift by thousands of workers into low-paid self-employment and the UK’s continuing story of low investment and low productivity had denied the Treasury vital tax revenues. ...
Brexit will blow £59bn hole in public finances, admits Hammond image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 08:39:09 PM
....The Office for Budget Responsibility (OBR) announced that there would be a cumulative £122bn of extra borrowing over the next five years, with £59bn of that as a direct result of Brexit. Other factors included weaker-than-expected tax revenues, and policy changes, including Hammond’s decision to spend more on infrastructure. ...
Brexit uncertainty will hold UK GDP growth back, says OBR image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 07:14:25 PM
.... “Our net inward migration assumption is unchanged since March, but we would have increased it by about 80,000 a year in the absence of the referendum,” said Chote. Such an increase in net migration “would have boosted tax revenue by more than it would have raised spending”, he said. ...
Government borrowing falls on record October tax take image
Source : BBC [Read Article] Tuesday 22nd of November 2016 10:38:31 AM
....British Chambers of Commerce (BCC) head of economics Suren Thiru also said the size of the UK's budget deficit could limit the scope for growth-boosting measures in the Autumn Statement. "The chancellor faces a major fiscal headache over the next few years, with slower than expected growth likely to further restrict the UK's ability to generate sufficient tax revenue and achieve a substantial reduction in the deficit. ...
Could legalising cannabis boost Treasury? image
Source : BBC [Read Article] Monday 21st of November 2016 08:31:06 PM
. Legalising cannabis could net the Treasury £1bn a year in tax revenue, a report backed by some MPs has claimed. ...
Tricky situation image
Source : BBC [Read Article] Sunday 20th of November 2016 11:43:54 AM
....While Brexit has done far less immediate economic damage than the Treasury and others predicted, the tax receipts nevertheless aren't rolling in as quickly as hoped. At the last Budget, the economy was expected to grow at an increasingly rapid clip, drawing in tax revenues for the Exchequer to bring the deficit down. ...
Trump is right: Nafta is a disaster. But US workers aren’t the big losers | Felicity Lawrence image
.... The poor got poorer. If the new trade had generated much greater tax revenues for the Mexican government, or indeed for the US government, they might have been able to mitigate the effects, but transnationals park their profits offshore in tax-haven subsidiaries. ...
Strong-arm Apple and tax China bigly: a guide to Trump's possible tech policies image
.... It is standard for global businesses to exploit loopholes that allow them to register profits in countries with lower corporate tax rates, though that means the profits (and taxes that go with them) don’t come back to the US. The US government has already said it would like that tax revenue back, and Donald Trump says he has ways of making it happen. ...
Maternity leave should be extended at cost of £2.1bn, says CBI image
Source : Guardian [Read Article] Wednesday 26th of October 2016 11:01:05 PM
....5bn shopping list of measures, including lengthening maternity leave from nine months to a year to bridge the gap with the earliest date from which parents can claim childcare support. The CBI’s call for a “more flexible approach” to Britain’s public finances, with significant spending on infrastructure projects and cuts to business taxes, follows growing concerns inside the Treasury that tax revenues are falling and growth is slowing, limiting Hammond’s room for manoeuvre as he plans the next five years of government spending. ...
Europe's 'unfair' Apple tax ruling sparks US anger image
Source : BBC [Read Article] Tuesday 30th of August 2016 06:27:57 PM
.... ". "By forcing their member states to retroactively impose taxes on US companies, the EU is unfairly undermining our ability to compete economically in Europe while grabbing tax revenues that should go toward investment here in the United States," he said. ...
FTSE 100 dips as Glencore shares slide image
Source : BBC [Read Article] Wednesday 24th of August 2016 08:33:52 AM
....68% respectively. South African-focused stocks fell after the country's currency, the rand, was hit by rumours that South Africa's finance minister, Pravin Gordhan, could face charges in relation to an alleged rogue unit at the state tax revenue service. ...
DVLA disputes £400m revenue loss following abolition of tax disc image
Source : Guardian [Read Article] Thursday 18th of August 2016 02:39:38 PM
....In November 2015, the Department for Transport warned that the number of untaxed vehicles observed on the roads was “much higher” in 2015 than when previously surveyed in 2013, “following changes in the licensing system”. At the time it estimated that this surge in evasion could cost £80m a year in lost vehicle tax revenue, which the department said was “higher than in any year since at least 2007”. ...
Firms giving advice on aggressive tax avoidance could face large fines image
Source : Guardian [Read Article] Tuesday 16th of August 2016 11:01:16 PM
....Jane Ellison, the financial secretary to the Treasury, will on Wednesday open a 12-week consultation over new proposals of governance which will be outlined to the industry. “People who peddle tax avoidance schemes deny the country of vital tax revenue and this government is determined to make sure they pay. ...
Economic visions image
Source : BBC [Read Article] Monday 8th of August 2016 09:17:43 PM
....Mrs Clinton's policy for jobs growth is a little more specific. She has called for increasing jobs training - in part paid for by tax revenue from wealthier Americans. ...

Families affected by fracking to get share of money earned under new Theresa May plan
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.... . Communities could get up to 10 per cent of the tax revenue generated from exploratory fracking in their area thanks to the new fund, meaning up to £10 million for eligible communities, however the amount families could receive is yet to be set. ...

£78 billion: The cost to the taxpayer of poverty in the UK 
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Source : Telegraph [Read Article] Monday 1st of August 2016 08:02:39 AM
....2 billion - or £1 in every £5 of public spending - went on areas including healthcare, schooling and policing. A further £9 billion is either spent on benefits intended to alleviate poverty or in lost tax revenue, the report, entitled Counting the cost of UK poverty, said. ...
Poverty costs UK £78bn a year, Joseph Rowntree Foundation says image
....Julia Unwin, the foundation's chief executive, called for "real action", saying: "Poverty wastes people's potential, depriving our society of the skills and talents of those who have valuable contributions to make. This drags down the productivity of our economy, hinders economic growth, and reduces tax revenue. ...

HMRC cuts could lead to 'collapse' in service and should 'chill the blood' of taxpayers, MPs warn
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....It is now aiming to answer 90 per cent of calls, and expects the average waiting time to fall below five minutes, the PAC reported. MPs called on HMRC to examine what impact its "poor level" of service was having on tax revenue. ...
Chancellor may 'reset' economic policy in Autumn Statement image
Source : BBC [Read Article] Friday 22nd of July 2016 07:39:08 AM
...."We don't know how much, it might be a recession, it might just be a slowdown. That will mean there will be less tax revenue coming in and Mr Hammond is going to have some really tough choices to make in the Autumn Statement. ...
DVLA revenue falls £93m since paper tax disc scrapped image
Source : BBC [Read Article] Wednesday 20th of July 2016 03:32:33 PM
. Road tax revenue has fallen by £93m in the year following the abolition of the paper tax disc, Driver and Vehicle Licensing Agency (DVLA) figures show. ...
Troubled times image
Source : BBC [Read Article] Saturday 9th of July 2016 11:50:45 PM
....It is roughly the same size as it was at the turn of the century. That has made it harder to generate the tax revenue needed to keep the government's debt burden down. ...
'Golden chance' to rethink Scots economy image
Source : BBC [Read Article] Saturday 9th of July 2016 03:46:05 PM
.... That would mean a reduced state exposure to the risks carried by RBS. Sir Nicholas repeated his warnings of the 2014 independence plans being over-optimistic about tax revenue, particularly from oil production. ...
UK economy increasingly reliant on London tax, report finds image
Source : BBC [Read Article] Thursday 7th of July 2016 09:38:10 AM
....The UK's economy has become increasingly reliant on the taxes paid by Londoners over the last decade, a new report has found. Think tank Centre for Cities said the capital generated about 30% of the UK's tax revenue in 2014-2015, a rise of 5% compared to 2004-2005. ...
Get ready for more market reaction to Brexit image
Source : Guardian [Read Article] Sunday 26th of June 2016 05:04:10 PM
.... On his way out, Hill has warned the City to prepare for an era in which the French and Germans write the financial rules. Would the UK government, whatever its makeup, be prepared to accept that outcome if it can secure tariff-free access to EU markets for, say, the country’s carmakers? Nobody knows, but the toe-to-toe negotiations could come down to such hard choices, all of which carry heavy implications for the Treasury’s tax revenues. ...
The overselling of financial transaction taxes image
Source : Guardian [Read Article] Monday 6th of June 2016 09:35:06 AM
.... The problem is that trading will likely collapse in many areas, and many financial trades will be executed in other countries. If economic growth is affected, eventually other tax revenues will fall, and if government bonds are covered, borrowing costs will rise. ...
Austerity is far more than just cuts. It’s about privatising everything we own | Aditya Chakrabortty image
....But without getting rid of prize assets, Osborne’s austerity programme falls apart. At a time when tax revenues are more weak stream than healthy flood, those sales bring much-needed cash into the Treasury and make his sums add up. ...
Brexit to give jobs BOOST: 200,000 MORE people in work if Britain leaves EU, MEP claims image
....” Mr Redwood added: “If we remain in the EU, we will be putting our world-beating City under threat. "It currently generates £45billion for the UK economy, making vital contributions in terms of jobs and tax revenue. ...
How big tobacco lost its final fight for hearts, lungs and minds image
Source : Guardian [Read Article] Sunday 22nd of May 2016 08:00:37 AM
.... There was no evidence that it would discourage young people from smoking, as the government insisted. Rather, it would encourage the counterfeiting of cigarettes, because non-branded packets would be easier to make, something that would deprive the Treasury of much-needed tax revenues. ...
Jeremy Corbyn calls for new economics to tackle 'grotesque inequality' image
....McDonnell said the party must aspire to be another great reforming government when it returned to power. “The last Labour government relied too heavily on tax revenues from financial services, and too heavily on off-balance sheet spending through the private finance initiative,” he said. ...

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