Taxing wealth fails
[Re: These politicians are wrong. A tax on wealth would be bad for Britain, yesterday]
It’s interesting that Andrew Sentance’s article makes the same point as the one by Andrew Haldenby, but from a different angle. The truth they both reveal is that low tax economies have faster growth, greater productivity gains, and stronger increases in living standards. And we should also remember that wealth taxes have been tried elsewhere, and have most often been abandoned. Frankly, we should not be distracted by new tax innovations, but should work harder to reform the taxes we already have. Income tax must be flattened to make it fairer and less open to avoidance.
David Peddy, managing director of Surgical Instrument Group Holdings
Ignore the unions
[Re: TUC’s plan to ban business in the public sector is outdated, yesterday]
Andrew Haldenby interprets the unions’ distrust of public sector innovation as an anti-business attitude. But unions are neither for or against business. They simply don’t understand it. Union members work disproportionately in the public sector – the only part of the economy willing to put up with their antics. But taxpayers can’t afford to stump up for high salaries or generous working benefits. Haldenby suggests we shouldn’t allow the unions to get in the way of change. But, union leaders can’t do anything about reform. They’re irrelevant, and we can ignore their tub-thumping after the nuisance of a strike or two.
It’s a move in the right direction to cut red tape and health and safety bureaucracy. It should save companies millions.
I salute Michael Fallon’s plan to cut red tape for business. But most of it comes from Brussels, and can’t be touched.
Volunteers for London 2012 made the Games. They should wear their uniforms with pride. Thank you Games Makers.
Good news on union membership. In 2011, it was down 143,000 from 2010. Now only 26 per cent of employees are union members.