Cut tax to create jobs

THE Commission on Taxation proposed to leave the current rate of corporation tax unchanged at 12.5%.

As this appears to be very attractive in encouraging multinationals to set up here, maybe the Government should do more to capitalise on this tax by linking it to employment. If it was to leave the 12.5% rate as standard, but reduce this rate further by, say, 0.5% for every 500 people a company employed here, then it would go along way to reduce the numbers of unemployed.

It would certainly help create the kind of jobs (highly skilled, highly paid) that the Government is trying to attract, as it is these types of businesses that are making huge profits – profits that a tax cut of even 0.5% would more than cover the cost of employing people. We have the talent, we have the need, now let’s create the means.