Elite Tax Haven Details Leaked
Discussion
Mrr T said:
edh said:
One word: productivity.
Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
It's one of the stock answers that the UK economy has a problem with low productivity. It's actually not that simple. French productivity maybe higher than the UK but French unemployment is also much higher than in the UK. Those two facts may be related.Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
As for this being the result of short term view in financial services just does not add up since the investment structure in France is very similar to the UK.
There is no disputing that UK productivity growth has been dismal over the past 10 years. Interested to hear what other explanations you have for it.
Can't be regulation can it? Not if the French and Germans do better than us.
edh said:
Mrr T said:
edh said:
One word: productivity.
Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
It's one of the stock answers that the UK economy has a problem with low productivity. It's actually not that simple. French productivity maybe higher than the UK but French unemployment is also much higher than in the UK. Those two facts may be related.Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
As for this being the result of short term view in financial services just does not add up since the investment structure in France is very similar to the UK.
There is no disputing that UK productivity growth has been dismal over the past 10 years. Interested to hear what other explanations you have for it.
Can't be regulation can it? Not if the French and Germans do better than us.
hyphen said:
edh said:
Mrr T said:
edh said:
One word: productivity.
Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
It's one of the stock answers that the UK economy has a problem with low productivity. It's actually not that simple. French productivity maybe higher than the UK but French unemployment is also much higher than in the UK. Those two facts may be related.Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
As for this being the result of short term view in financial services just does not add up since the investment structure in France is very similar to the UK.
There is no disputing that UK productivity growth has been dismal over the past 10 years. Interested to hear what other explanations you have for it.
Can't be regulation can it? Not if the French and Germans do better than us.
Perhaps we are all too busy selling houses to each other?
El stovey said:
Some of the posts from posters like James B are a fascinating insight into the kind of mindset that helped cause the financial crisis. It would be more amusing if they didn’t hold positions of responsibility in financial institutions but there you go.
It may be better for someone to make £9 rather than £0 when an uncompetitive business ceases to exist. Then again, people might not agree.
edh said:
. It has been the answer for the last 200 years or more.
Really? I thought LVT was the answer to everything. This is so confusing. As an aside I genuinely struggle to understand how the French are more productive than us. I love the French way of life precisely for their love of enjoying life and sitting around eating, drinking and smoking all day and not working. fblm said:
Really? I thought LVT was the answer to everything. This is so confusing.
fblm said:
As an aside I genuinely struggle to understand how the French are more productive than us. I love the French way of life precisely for their love of enjoying life and sitting around eating, drinking and smoking all day and not working.
Agreed, it's a mystery. fblm said:
Really? I thought LVT was the answer to everything. This is so confusing. As an aside I genuinely struggle to understand how the French are more productive than us. I love the French way of life precisely for their love of enjoying life and sitting around eating, drinking and smoking all day and not working.
I always thought it was because GDP figures are essentially made up and that the French civil servants were slightly more creative in their approach than the staid British ones - probably so they could get back to eating, drinking and smoking more quickly. AstonZagato said:
I always thought it was because GDP figures are essentially made up and that the French civil servants were slightly more creative in their approach than the staid British ones - probably so they could get back to eating, drinking and smoking more quickly.
You have to admire how they fit it all in, especially with a couple of mistresses each to satisfy.AstonZagato said:
fblm said:
Really? I thought LVT was the answer to everything. This is so confusing. As an aside I genuinely struggle to understand how the French are more productive than us. I love the French way of life precisely for their love of enjoying life and sitting around eating, drinking and smoking all day and not working.
I always thought it was because GDP figures are essentially made up and that the French civil servants were slightly more creative in their approach than the staid British ones - probably so they could get back to eating, drinking and smoking more quickly. edh said:
hyphen said:
edh said:
Mrr T said:
edh said:
One word: productivity.
Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
It's one of the stock answers that the UK economy has a problem with low productivity. It's actually not that simple. French productivity maybe higher than the UK but French unemployment is also much higher than in the UK. Those two facts may be related.Why does a French worker produce more in 4 days than a British worker does in 5?
Our productivity gap is a major issue, probably due to financial short termism and underinvestment. What drives this? The financial sector.
As for this being the result of short term view in financial services just does not add up since the investment structure in France is very similar to the UK.
There is no disputing that UK productivity growth has been dismal over the past 10 years. Interested to hear what other explanations you have for it.
Can't be regulation can it? Not if the French and Germans do better than us.
Perhaps we are all too busy selling houses to each other?
fblm said:
Really? I thought LVT was the answer to everything. This is so confusing. As an aside I genuinely struggle to understand how the French are more productive than us. I love the French way of life precisely for their love of enjoying life and sitting around eating, drinking and smoking all day and not working.
Productivity is calculated per hour worked. If you have Monday off with a hangover, have a public holiday on Tuesday, go on strike on Thursday then start Le Weekend on Friday then you may as well spend Wednesday doing whatever task is most productive rather than have meetings etc. So average productivity per hour worked is high because the hours spent sitting around being French aren't taken into consideration.Countdown said:
They have an aerospace industry, a car manufacturing industry, a better health service than us, better schools than us....what are they doing right that were not?
The last bit. In all seriousness a good friend of mine went to one of the Grand Ecoles in Paris, he's a derivative trader but he reckoned about half his graduating class went into the french or eu civil service, conversely I don't know a single person from my Uni who did.James_B said:
Alpinestars said:
Doing what? Anyone can go and get a job in Dubai and "double" their salary if there's a job out there.
The last two people who I know who did the move both traded dollar interest rate swaps.Why do you ask?
Dubai’s great for a holiday. I’m not so sure about taking the kids out there to live. Several couples we know have done it when opportunities came up via work. A 2-3 year stint is fine. But I’d worry a bit about the schools. I’m sure they are ok but. The biggest issue was the wives getting used to maids and this pampered life style. I’d find the heat a bit tedious
Edited by Burwood on Sunday 12th November 07:08
James_B said:
Alpinestars said:
Doing what? Anyone can go and get a job in Dubai and "double" their salary if there's a job out there.
The last two people who I know who did the move both traded dollar interest rate swaps.Why do you ask?
To compare the Brits to the French is laughable. I have watched two road gangs from a private company working for a Tory council breast feed their shovels for over two months widening a short stretch of pavement that no on will ever use. The French would have done it in a week, built a stone wall and planted flowers.
There is a debate in parliament about the paradise papers and associated matters this very afternoon
http://www.parliament.uk/business/news/2017/novemb...
http://www.parliament.uk/business/news/2017/novemb...
Interesting interview with David Marchant, the preeminent 'offshore finance' investigative journalist...
https://sputniknews.com/analysis/20171111105901029...
TLDR;
"Appleby is a significantly more credible law firm than Mossack Fonseca. I would expect Mossack Fonseca to have a plethora of sleazy clients. Panama is a sleazy jurisdiction. Appleby is a credible law firm operating in credible jurisdictions, the Cayman Islands is a first-class financial center, as is Bermuda, as are other centers that Appleby operates in including those in the Channel Islands. I would expect Appleby to have bone fide clients and I think this has proven to be the case.
There is a hierarchy in the offshore world, it's a myth that all offshore centers are the same, they're not, just like major countries are substantially different. The US is materially different to Russia, for example. Bermuda and the Cayman Islands are substantially different to St Vincent and the Grenadines or the Seychelles or Mauritius. "
https://sputniknews.com/analysis/20171111105901029...
TLDR;
"Appleby is a significantly more credible law firm than Mossack Fonseca. I would expect Mossack Fonseca to have a plethora of sleazy clients. Panama is a sleazy jurisdiction. Appleby is a credible law firm operating in credible jurisdictions, the Cayman Islands is a first-class financial center, as is Bermuda, as are other centers that Appleby operates in including those in the Channel Islands. I would expect Appleby to have bone fide clients and I think this has proven to be the case.
There is a hierarchy in the offshore world, it's a myth that all offshore centers are the same, they're not, just like major countries are substantially different. The US is materially different to Russia, for example. Bermuda and the Cayman Islands are substantially different to St Vincent and the Grenadines or the Seychelles or Mauritius. "
fblm said:
Alpinestars said:
fblm said:
Alpinestars said:
Whilst I think there is a lack of understanding of havens and tax avoidance, I do think there need to be some rule changes on property held by non residents versus residents. Unlike the likes of Starbucks, Amazon etc, it's hard to see the value that some of the non resident property investors are bringing to the UK, whilst making huge gains and not paying UK tax on those gains like UK resident investors do. Wouldn't surprise me if there is a law change at some point.
It changed in 2015. Since then non residents lost CGT exemption on property. (Eta talking about individuals, no idea about foreign companies)Edited by fblm on Friday 10th November 13:55
Alpinestars said:
fblm said:
Alpinestars said:
fblm said:
Alpinestars said:
Whilst I think there is a lack of understanding of havens and tax avoidance, I do think there need to be some rule changes on property held by non residents versus residents. Unlike the likes of Starbucks, Amazon etc, it's hard to see the value that some of the non resident property investors are bringing to the UK, whilst making huge gains and not paying UK tax on those gains like UK resident investors do. Wouldn't surprise me if there is a law change at some point.
It changed in 2015. Since then non residents lost CGT exemption on property. (Eta talking about individuals, no idea about foreign companies)Edited by fblm on Friday 10th November 13:55
EddieSteadyGo said:
Alpinestars said:
fblm said:
Alpinestars said:
fblm said:
Alpinestars said:
Whilst I think there is a lack of understanding of havens and tax avoidance, I do think there need to be some rule changes on property held by non residents versus residents. Unlike the likes of Starbucks, Amazon etc, it's hard to see the value that some of the non resident property investors are bringing to the UK, whilst making huge gains and not paying UK tax on those gains like UK resident investors do. Wouldn't surprise me if there is a law change at some point.
It changed in 2015. Since then non residents lost CGT exemption on property. (Eta talking about individuals, no idea about foreign companies)Edited by anonymous-user on Friday 10th November 13:55
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff