Osborne’s tax avoidance failure reveals the facts about Coalition policies
What bad luck for George Osborne to get two sums wrong in the same week!
The first sum was a simple times-table question; a school pupil asked him to multiply seven by eight and he couldn’t do it.
The second sum was more serious because it was a sum of money. Rather a lot of money. £1.9 billion, in fact.
The Boy had claimed that around £3 billion in extra tax had been recovered from “high net worth individuals” – tax avoiders – after investigations by HM Revenue and Customs.
Unfortunately, errors in the way HMRC’s performance targets were set meant that these improvements were… well, “overstated” is how the Huffington Post described them.
This meant that, when HMRC said it exceeded its target for tax compliance in 2010-11 by £1.9 billion, in fact it had only just hit its target. The…
View original post 537 more words