The Lib Dems need to demand that banks pay UK profits at 28% corporation tax. No excuses. If they want any of this 28% back the banks must appear at a MP meeting in the house of commons and explain what tax loopholes they are using to avoid paying tax. Then those loopholes should be closed.
Barclays and other companies cannot be allowed to get away with paying 1-2% tax. If this tax was paid at 28% the cuts can be reduced.
Osborne should wipe the tax free credit built up by banks. Normally any losses they make can be used to reduce taxes paid on profits for up to 5 years. He promised he would do something before the election and he should make good on that promise.
Banks should be banned from doing any business with the UK government or any public sector body if they run any tax avoidance or evasion schemes and services.
Accounting firms should also be banned from all UK government and public sector contracts if they continue to offer tax avoidance schemes and services.
There needs to be a ban on uses foreign companies to buy UK homes to avoid UK stamp duty. These apartments are being bought by bankers with bonuses and even the sellers of the properties are advising how to avoid UK stamp duty.
UK banks should be forced to declare what interest rates they are borrowing at and why they have raised fixed mortgage and business lending rates so high. They should also be forced to explain why they need to charge anywhere from £500 to £2000 to sign someone up for any type of mortgage when the costs of administration are a fraction of this.
The Lib Dems also need to demand all tax avoidance and evasion and tax fraud is stopped with changes in the law and the budget and the tax authorities should not face any staff losses which will stop them stopping tax not being paid.
It is not just banks avoiding or evading tax. All business that does this needs to be stopped now to help reduce the cuts by stopping them not paying tax they should be.
The tories claim the UK is broke but they can afford trident and have suddenly found money for military intervention in Libya when even the Libyans want no troops from the UK or elsewhere.
The tens of billions in avoided and evaded tax must be collected now. If the Tories do not change the law they should pull out of power straight away.
Many will say the guardian avoids tax but this only shows that they know tax is not being paid everywhere. ukuncut and the guardian have good sections on tax not being paid that should be.
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