The UK government is duplicating efforts on Swiss accounts
Monday, 1 November, 2010 Leave a comment
I hate being taken for an idiot then treated like one again and again and again! But, I am a voter, have a brain and a conscience. So I should be used to it by now I suppose.
Here is another example of the pathetic focus upon creating a "smokescreen" or taking credit for all the things that the Coalition liked about what the previous Government did and rubbishing the things that they now don’t…even when we were in favour at the time.
The mentality is all about "looking like they are doing the right things" in an attempt to convince people (particularly rating agencies) that they are serious about the task in hand…EVEN THOUGH FOCUS UPON SHORT TERM RESULTS WITHOUT DUE CONSIDERATION OF A WORTHWHILE AND SUSTAINABLE STRATEGY HAVE CONTRIBUTED GREATLY TO THE MESS WE ARE ALL IN…thanks to a lethal combination of – you guessed it – Politicians and Bankers!!!
In an effort to look tough on tax avoidance, the UK government is trumpeting the agreement that it has signed with Switzerland to begin negotiations to make Britons pay tax on their Swiss bank accounts. In reality, the EU Savings Tax Directive is already set up to do that, demonstrating that the government’s sabre-rattling offensive is populist and misguided.The declaration of intent between the UK and Switzerland to start negotiating on tax issues follows meetings between the British Chancellor of the Exchequer, George Osborne, and the Swiss finance minister, Hans-Rudolf Merz. Formal negotiations are expected to start in early 2011.
However, the UK chancellor seems to have overlooked the fact that there is already an agreement that levies tax on all UK nationals\’ bank accounts in Switzerland. It is called the EU Savings Tax Directive and has been in place since July 1, 2005.