A Quote by Grant Shapps
To reduce repossessions caused by unemployment, Gordon Brown needs to look at cutting the rate of corporation tax for small companies to 20 per cent and the main rate to 25 per cent, while reducing the rate of employers' national insurance by 1% for the smallest companies.
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Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
Our royalty statement has been minimal and menial. Really. We don't collect more than a per cent of a per cent of a per cent of a per cent of a per cent of a per cent of a per cent. We get maybe the seventh of 1 percent.
Many liberals argue that big U.S. companies don't really pay the top corporate rate. While this is sometimes true, it's mainly because, during recessions, companies lose money, and get a tax loss carryforward that temporarily reduces their effective rate. But during economic expansions, when profits rise, companies then do pay the top rate.
Last year, the journalist Malcolm Gladwell conducted a survey of chief executive officers of Fortune 500 companies for his book Blink. He discovered that while in the US population 14.5 per cent of all men are 6ft (1.83m) or taller, among CEOs of Fortune 500 companies the proportion is 58 per cent. And while 3.9 per cent of American adults are 6ft 2in or taller, almost a third of the CEOs were that tall.
We've been prepared to make the arguments for lowering corporation tax, which is all about encouraging risk takers, encouraging entrepreneurs, and I observe that for the vast majority of the Labour government we had a top rate of 40 per cent income tax. It's now higher, and I think we should look to get to a simpler, lower tax system.
The top 10 per cent of the US population appropriated 91 per cent of income growth between 1989 and 2006, while the top 1 per cent took 59 per cent.
As an economist, the only advice I can give the Modi government is to take some steps that will raise the morale of the consumer and investor. That means income tax abolition and reducing the annual interest rate to nine per cent.
There's not a human being alive I won't talk to. There's a quite simple rule. If you like somebody more than you dislike them you can have a relationship. Once you accept you like 75 per cent but 25 per cent you find irritating for this or that reason, you just have to ignore that 25 per cent.
Putting, say, an 85 per cent income tax rate is unlikely to bring in much revenue.
By 2050, at bio-extinction's current rate, between 25 per cent and 50 per cent of all species will have disappeared or be too few in numbers to survive. There'll be a few over-visited parks, the coral reefs will be beaten up, grasslands overgrazed. Vast areas of the tropics that have lost their forests will have the same damn weeds, bushes and scrawny eucalyptus trees so that you don't know if you're in Africa or the Americas.
If you walk along the street you will encounter a number of scientific problems. Of these, about 80 per cent are insoluble, while 19½ per cent are trivial. There is then perhaps half a per cent where skill, persistence, courage, creativity and originality can make a difference. It is always the task of the academic to swim in that half a per cent, asking the questions through which some progress can be made.
If Europe today accounts for just over 7 per cent of the world's population, produces around 25 per cent of global GDP and has to finance 50 per cent of global social spending, then it's obvious that it will have to work very hard to maintain its prosperity and way of life.
Once we see stars with three times the metal content of our sun, the planet detection rate goes up to 20 per cent.
I often repeat three numbers: 20-23-26. Quebec generates only 20 per cent of Canada's wealth; it represents 23 per cent of the population, but it does 26 per cent of government spending in Canada. That's incompatible with good financial health over the long term.
I have no qualms about saying I am more confident in the medical treatment in America. The breast cancer survival rate is 20 per cent higher than in the UK.
Getting back to 100 per cent is one thing, but working at 100 per cent is something else entirely. And given one of my main goals has always been improving my skill set, to do that, I need to be working out at 100 per cent.
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