Get your reaction in firstSmart moves in
Are UK businesses showing a bit more savvy? According to the
Office for National Statistics, redundancies rose to 138,000 in the three months to July, up 28,000 from the previous quarter.
While this was not good news for the people concerned, it may indicate that companies are taking steps earlier to ‘downsize’ where necessary to avert bigger financial problems later on.
Also, a leading debt collection agency has just told me that they have witnessed an intake of bigger commercial debts lately, and they’re being passed over to third party collection at a much earlier stage (i.e. when they are only a few weeks rather than a few months overdue.) This change in buyer habit suggests companies are thinking more about cash flow protection and less about the commission they have to pay to the collection agency.
Let’s keep our fingers crossed that this indicates that Corporate UK is showing a bit of savvy in these most turbulent of times.
Martin Williams, MD, Graydon,
Politics of tax
Tax has been very much the topic for the Lib Dems in Bournemouth – from proposals to cut taxes for low earners to new policies on how to tackle tax avoidance.
Francesca Lagerberg, chair of the tax faculty’s technical committee, spoke on the subject of ‘How to make tax fair’ alongside Kate Green of the Child Poverty Action Group and Vince Cable. It was standing room only which gives you some idea of the importance and engagement of delegates on this subject.
Michael Izza, chief executive ICAEW, ICAEW.co.uk
If the British public realised just how much of their hard earned income was being taken in one form or another by government, there would be a mass revolt. Unfortunately there is no comprehensive research showing how much of the income of a typical household goes back to the government. Such research is long overdue!
What is needed is a straightforward simple system which is fair, understood and transparent and which encourages businesses and wealth creation. This then needs to be coupled with a social security system that protects those who cannot protect themselves and encourages personal responsibility.
Politicians then need to be held accountable for the promises which they make to the electorate.
Carol Barrie, tax partner,
RSM Bentley Jennison
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