,
3 tweets,
2 min read
Read on Twitter
1/2 Corporation tax cuts have doubled dividends - not boosted investment.
Remember the Osborne & Hammond mantra? They said big companies would invest more if tax on their profits was cut.
Instead dividend payouts have doubled - and investment's been flat.reut.rs/WDByUp
Remember the Osborne & Hammond mantra? They said big companies would invest more if tax on their profits was cut.
Instead dividend payouts have doubled - and investment's been flat.reut.rs/WDByUp
2/2 In 2010, big companies paid 28% tax on their profits. This will be down to 17% next year.
Lost tax revenue is set to exceed £20 billion a year. But there's no sign of an investment boost.
Instead, dividends paid by FTSE100 companies have DOUBLED - to more than £90 billion!
Lost tax revenue is set to exceed £20 billion a year. But there's no sign of an investment boost.
Instead, dividends paid by FTSE100 companies have DOUBLED - to more than £90 billion!
Footnote: Dividend figures are from broker A J Bell who say dividend growth's mainly driven by banks, fossil fuels, drink & tobacco.
ajbell.co.uk/sites/ajbell.c…
On the cost: £16.5bn a year is already being lost. Moving to 17% will cost a further £6.2bn a year.
theguardian.com/politics/2019/…
ajbell.co.uk/sites/ajbell.c…
On the cost: £16.5bn a year is already being lost. Moving to 17% will cost a further £6.2bn a year.
theguardian.com/politics/2019/…
