Thursday 20 January 2011

Just imagine...

There are some subjects on which the Murdoch press is on incredibly shaky ground. For some reason known only to Dominic Mohan, the Sun's editor, he's decided to dedicate an editorial to exactly one of those topics:

Taxing times

CONGRATULATIONS to Her Majesty's Revenue and Customs. They hope to recover up to £3billion from tax dodging accounts over the next five years. And that's JUST from tiny Liechtenstein.

Just imagine how much they would net if they managed to claw back ALL the money stashed in illegal accounts around the world.

It would be enough to pay off a big part of the debt that is making life tough for almost everyone.

Yesterday's jobless figures, showing the total soaring 49,000 to 2.5million were causing "huge concern".

So with bankers sticking two fingers up to the rest of us again over massive bonuses, it's hardly surprising that - for once - we are all cheering the taxman.

Yes, just imagine! The leader does rather hedge its bets: it talks of both tax dodging accounts and illegal accounts. While outright tax evasion is illegal, tax avoidance itself is not. Tax avoidance is something News Corporation, the Sun's parent company has in the past been incredibly proficient at: from around 1988 to 1999 Rupert Murdoch's main British holding company paid no net corporation tax, saving a total sum of around £350 million. Were Murdoch to be generous and magnanimous enough in this country's hour of need to turn over a similar amount, it would at the least ensure that some of the harshest cuts being made, such as the withdrawal of the education maintenance allowance, could be either curtailed or dropped entirely. After all, we are - for once - cheering the taxman!

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