Thank God for the rich, Part 2.

[k4blades]

I was reading the other day about Jaguar Landrover.
Back in 2008, owned by Ford, they faced being closed down, bankrupt, going the same way as General Motors, which would have resulted in thousands of jobs losses in the UK. No other car firm was interested, and Ford wouldn't put the much needed investment into the company.
Fortunately the Tata corporation came to the rescue and bought JLR.
Now they are making a staggering profit in a turnaround that has left the motor industry shocked. Massive sales and profit growth has come mainly from China, but also great figures have been seen in the USA and Europe, far better than other car manufacturers. Billions have been invested with new models in the pipeline not only securing thousands of jobs, but leading to more people being taken on, and plants going into 24hr production for the first time.
All this because a billionaire, a foreign billionaire, decided to invest in the UK.

Based on such examples as this, can anyone possibly agree that we should have a tax regime that discourages rich people from coming here.

[Fly]

Is this relevant. Isn't this like someone moving their assets abroad to save paying tax in 'their' country.
http://www.telegraph.co.uk/news/uknews/law-and-order/9512294/Abramovich-saves-his-fortune-in-court-battle-as-oponent-accused-of-hiding-his-assets.html

[Pete]

Without wanting to state the blindingly obvious -  in 2008 we had a Labour government and Mr Tata obviously wasn't worried about our tax laws then.

Maybe he had a lot of time for the British working man.

[k4blades]

Not really the same. Abramovich spends his money on a few prima-donnas, for his own pleasure, but not of any great significance to this country.
Tata invested in a dying business, pouring a fortune in that saved jobs, and a British brand. Also, I stand to be corrected, but I think the tax situation in India, Tatas home nation, is a lot more favourable than here.
(incidentally, he has a reputation for philanthropy, and often uses his personal money to help others, which in India, is much needed).

[k4blades]

Without wanting to state the blindingly obvious -  in 2008 we had a Labour government and Mr Tata obviously wasn't worried about our tax laws then.

Maybe he had a lot of time for the British working man.

True, apparantly he is a "friend" of Labour, and has made large donations to them. I 'm not bothered about that as long as he has created jobs, pays his tax, etc.
(Though we have a socialist President in France, and have you seen whats happening to their economy....I shouldn't laugh...)

[k4blades]

Incidentally, Pete;
"British Working Man"

All the talk before the Olympics about whether it was worth the cost, looking back now, we showed the world just how good we can do things, and on time, etc, in this country so hopefully, that will bring more investors into the country. (Though the stadium was probably built by the polish?) 

[Pete]

France? Olympics? Polish? Lets stay on topic please - British tax laws.

[chesterfieldchris]

POST DELETED AT USER'S REQUEST

[Fly]

Is this relevant. Isn't this like someone moving their assets abroad to save paying tax in 'their' country.
http://www.telegraph.co.uk/news/uknews/law-and-order/9512294/Abramovich-saves-his-fortune-in-court-battle-as-oponent-accused-of-hiding-his-assets.html

So my point is slightly credible ?

[Pete]

@ CC Seems to be par for the course. More money to be made in a country with one of the most oppressive regimes on earth and a crime and punishment record straight from the Middle Ages. I even read that women aren't allowed to drive without a male chaperone in the car.

[chesterfieldchris]

POST DELETED AT USER'S REQUEST

[Pete]

Good man!

Why would anyone want to live anywhere but here?

[chesterfieldchris]

POST DELETED AT USER'S REQUEST

[Pete]

I know what you meant.

As a matter of fact I got mixed up recently - went out with odd shoes on...