Tag Archives: opinions

I have no trouble with the passing of the Csars 100 years ago. Russia deserved better. A way had to be found to involve the people in their government.

Instead the revolution caused more misery and suffering. As is the way with most violent revolutions the revolutionaries unleashed a tyranny on those who disagreed, and a pogrom of those they did not like. The small independent farmers were wiped out. Religions were suppressed. Dissidents were tortured, imprisoned or killed.  A revolution born of war fatigue ended Russian involvement in the First World War, but the Communist government  then hurled Russia into even greater losses through  killing many of her own in internal mass murders. They followed this with a major commitment to war with Germany in the 1940s.

The revolution peddled the myths of Marxism, whilst the revolutionaries battled each other over how far they should spread their power and message abroad. The proletariat were told they would inherit the earth. Instead they lost their remaining freedoms, drafted into industrial labour, placed in rented flats and made to live and work as the state dictated. The production machine was heavily slanted to making armaments, at the expense of consumer items for the public. The favoured few at the top of the single ruling party lived and worked  in the palaces of the Csars and in modern luxury whilst most Russians were denied cars and consumer goods that became common in the west as the century advanced.

Russian literature is so often the story of struggle and of  the secret service, of torture and autocratic rule. Living standards fell well behind western ones whilst freedoms were also denied. It is strange that various western intellectuals thought the Communist system superior and were prepared to write for it or even to fight for it or spy for it. In my youth I developed a passionate dislike of the Communist message and its social consequences. I saw the USSR shoot people who tried to leave the eastern bloc, whilst anyone in the west was free to go and live in the USSR if they chose. I noted that even the most ardent pro Communists amongst the intelligentsia usually opted to stay safely living in the freer west

I have received the enclosed letter from Councillor Charlotte Haitham Taylor, the Leader of Wokingham Borough Council. Councillor Haitham Taylor explains that the council is taking steps to provide relief to businesses in Wokingham affected by the reg… read more

I noticed in all the BBC allegations about use of tax havens they of course made no mention of why it is that most UK collective investment fund investments are now made through Dublin or Luxembourg.

The EU invented the passported investment fund that can be easily used throughout the EU  called UCITs – Undertakings for collective investments in transferable securities.  These have replaced many of the domestic UK unit trusts that savers used to use.  88% of these vehicles are established in either Dublin or Luxembourg rather than in London which remains the principal centre for investment expertise.

One of the reasons behind this dominance by two of the smaller world centres is the favourable tax regime. In Ireland overseas  investors in the funds pay no Income tax, CGT, Subscription tax, Corporation Tax or Redemption tax to the Irish authorities. Obviously holders of the units do pay income tax on the dividends and CGT on the gains in their country where they are registered to pay taxes. UK investors large or small pay Income tax on dividends and CGT on gains in any offshore fund they hold anywhere in the world, unless their gain is below the taxable threshold or unless they hold the investment in a pension fund or ISA which are tax exempt. Ironically given the coverage it is the smaller savers who can more easily use sensible tax avoidance schemes like pensions and ISAs to avoid tax on their holdings.

In Luxembourg  too there is a  very favourable tax regime to encourage the establishment of UCITs. Dublin has proved more attractive because it also offers a very low Corporation Tax rate of 12.5% if the sponsor company for the UCIT also wishes to move there.

It is curious how Labour and the BBC concentrate on favourable tax regimes in UK offshore centres but not in these two larger EU locations. I see nothing wrong with the approach of the Irish or Luxembourg authorities who have successfully competed with a tax and services offer which has attracted a lot of  business away from London and other large centres. I do detect bias in the recent treatment of tax avoidance stories.They have been unwilling to point out up front that offshore funds do not allow UK citizens to avoid tax on their investments, and do not point out the huge volume of offshore funds generated by EU policy favouring places other than London within the EU.

I understand the interest in the various stories about actual and alleged misconduct by MPs at Westminster. I have no intention of writing about them and will  not  be publishing any comments about individual cases. I do not know the rights and wrongs of individual cases and have no wish to get in the way of any enquiry or legal process.

If criminal wrongdoing has taken place it must be prosecuted. If an MP has behaved unprofessionally but not criminally then there needs to be an apology and some recognition of the error. If an MP is falsely accused they deserve a fair and independent process to clear their name.

The Prime Minister and Leader of the Opposition are working together to produce a new procedure for anyone working at Westminster to pursue a complaint about another MP or staff member. This needs to be done with due process  in a way which ensures it will be properly examined independently, with judgement and arbitration as needed. Staff members need protecting against any predatory MP, and MPs need to be able to dismiss any  false allegations in a timely and convincing way.

I have received an update from the Minister on what the Government has done to improve access to superfast broadband.

● Superfast broadband is now available to more than 94 per cent of UK homes and businesses, up from 45 per cent in 2010.

● Since 2013, more than 4.5 million homes and businesses have superfast broadband available for the first time thanks to the Government’s Superfast Broadband Programme.

● We are reaching thousands more properties every single week and on track to reach 95 per cent of the UK by the end of the year.

● We have announced that up to £645 million is to be made available to help take superfast broadband coverage to 98 per cent of the nation over the next few years. Together with other planned delivery, it is estimated that this could see more than 900,000 extra UK homes and businesses gain access to superfast speeds at the end of this year alone

● Up to £56 million of this funding will help take superfast speeds further across Wales. This will build on the 650,000 Welsh homes and businesses that our rollout has already reached.

● And up to £78 million of this funding will help take superfast speeds further across Scotland. This will build on the 800,000 Scottish homes and businesses that our rollout has already reached.

● We have pledged to ensure that 100 per cent of the UK will have access to affordable, fast and reliable broadband by 2020. The success of the Government’s superfast broadband rollout programme will help us reach the final 5 per cent.

● We are investing £1.1bn in digital infrastructure to support the next generation of fast and reliable mobile and broadband communications for consumers and businesses. The National Productivity Investment Fund (NPIF) will invest the money by 2020-21, with a focus on priority areas that are critical for improving productivity: economic infrastructure, housing and R&D.

● We are investing £200 million to fund a programme of local projects to test ways to accelerate market delivery of new full-fibre networks. The first stage of a £200 million Local Full Fibre Network scheme to help bring the UK’s fastest and most reliable Gigabit connectivity to businesses, communities and public buildings was launched on 3 September.

● We have announced a £25 million ‘5G Testbeds and Trials’ competition to select projects for funding in 2018-19 to support the next generation of digital infrastructure. Part of the £740 million National Productivity Investment Fund (NPIF), it will help to ensure the UK’s position as one of the world’s leading countries in the development of 5G technology by attracting inward investment to the UK, creating new opportunities for businesses and improving productivity.

● We are introducing 100% business rates relief for operators who install new fibre on their networks. The move will incentivise operators to invest in the broadband network, increasing speeds for both businesses and homes.

● And we have provided immediate assistance for those people living in the hardest to reach places with the slowest internet speeds. More than 10,000 rural homes and businesses have already used our Better Broadband Subsidy scheme to get a huge boost to their broadband speed.