Wednesday 27 October 2021

Budget: Some Suggestions For Sunak.

 Okay, here's some suggestions for the Chancellor regarding the budget. We all know that after spending squillions on propping up pandemic-affected people, he needs to raise some cash.

The first one would be to start charging people to Enter the country. This has a two-fold effect. The first is to raise much-needed cash, the second is to reduce the numbers travelling to the UK from abroad, thereby helping reduce emissions.

I suggest £25 per tourist arriving in the UK. £50-100 for every business traveller entering the UK. That should get them making more Zoom calls rather than travelling on jets. People entering the UK on private aircraft will be charged a blanket charge of £100 per person. Aircraft on medical missions will be exempt.

£5000 for anyone entering illegally, charged to the last country they travelled from. If the country refuses to pay, then legal entrants from that country will be charged pro-rata to cover illegal immigration from that country, based on a formula to cover the expected annual immigration.

I expect a lot less French people in the UK Sorry Percy!

Successive governments have endorsed the Inland Revenue IR35 rules introduced by the Blair Government that treats self-employed contractors working under certain conditions as "disguised employees". It's now been law for some time that contractors working for companies exclusively, using company equipment, wearing company uniforms, driving branded vehicles, etc. will be treated as employees for tax purposes. Therefore they are liable to pay full PAYE tax levels rather than the reduced tax payable by a self-employed person. 

In the same vein, it's about time companies were brought under similar rules.

I would introduce changes to legislation regarding head offices and corporate tax payment. ALL companies trading in the UK will be treated for tax purposes as if they have a head office in the UK.  Those with offshore head offices will be expected to pay full UK corporation tax as if they have a head office in the UK. Offshoring and paying reduced corporation tax in other countries will be outlawed.

It's only fair that companies benefitting from the patronage of the UK public should then repay the UK public by paying corporation tax in the UK. Many big-tech companies have usurped the high street over the past decade and they need to step up and start to pay their fair share of the revenue that has been lost from the high street.

Cigarettes duty to be increased by %5.

Beer and Spirits to stay the same.

Fuel Duty to stay the same.

Electric cars will now be liable to pay full VED and electricity used for transport will attract a new duty, which will be used to introduce new or improve existing charging infrastructure where private companies are unable to compete. It will in part be used to create a fund for councils to draw from in order to improve supply infrastructure to street lamps or completely new wiring, with the intention of providing adequate infrastructure to install chargers on normal streets.

The initial rate of VED for electric vehicles will be £2 per KWh.

The duty on electricity used to charge a vehicle will be £1 per KW.

These rates will be under constant review as the duty from fossil fuelled transport reduces and electric powered transport replaces it.

Fuel Cell hydrogen technology is still in it's infancy, so Hydrogen Gas used for transport will still be exempt from fuel duty. Hydrogen fuel cell vehicles will be exempt from VED as well. 

Work is under way to provide incentives for companies installing Hydrogen fuel filling infrastructure. 


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