Rees-Mogg Spearheads New Campaign Against Global Minimum Corporation Tax

Jacob Rees-Mogg is the face of a new Adam Smith Institute campaign against a global minimum corporation tax, which threatens to undermine levelling up. As Chancellor, Rishi Sunak spearheaded the international campaign for a global minimum corporation tax of 15%, set to come into force this year. And he claims he’s a Thatcherite…

A new report from the ASI published today, however, finds that the policy threatens the very levelling up agenda the current government were elected on; undermining key areas of UK tax policy including investment zones, free ports, business tax credits and the super-deduction policy the Prime Minister so keenly championed. Rees-Mogg adds that the policy will also level down the wider global economy…

“Tax competition between countries keeps rates low and increases prosperity. Agreeing high rates among a cabal of developed nations will keep the world poorer.” 

The report points out the ideological inconsistency of a government that champions taking Britain out of the EU, only to then sign away our financial independence via a new OECD treaty. It particularly threatens investment zones and freeports – the latter being one of the only policies Rishi Sunak can point to as proof of his pro-Brexit credentials…

“because the Pillar Two rules permit a carve-out from included income equal to 5% of eligible payroll costs—including payroll taxes paid by the employer—the interaction of the new tax rules with investment zone incentives could perversely result in higher top-up tax liability owing to lower payroll costs in the zones. This would tend to disincentivize investment and employment in investment zones and freeports.”

Just another day of a Conservative government forgetting what Conservatism means…

Read the report in full here.

mdi-timer 3 February 2023 @ 11:29 3 Feb 2023 @ 11:29 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Zahawi Stands Up for £100,000 Earners who “Scrimp and Save” to Send Kids to Private School

Westminster’s Christmas party season kicked off last night, with the ASI hosting Education Secretary/Chancellor/Chancellor for the Duchy of Lancaster Tory Party Chairman for drinks on Great Smith Street. Nadhim Zahawi set out the Tories’ narrow flightpath for victory in 2024. Namely defending those who earn £100,000 to £150,000 who “scrimp and save” to send their kids to private school…

Reminding the youthful room that Britain is not Twitter, he promised to build a campaigning machine at CCHQ…

“…that is the best we can deliver. We’ve got Isaac Levido back to do the work and, of course, support the front line of great volunteers we have up and down the country… for next May’s elections and be ready and fighting fit for the General Election whenever it comes.”

“Because our opponents will be found out; they are hypocrites, they attack independent schools yet they choose to send their children to those same independent schools.”

Zahawi also slammed Labour for being “anti-enterprise, anti-opportunity”, joking that if you “look at their rhetoric – not much policy but rhetoric – they’re going to come after you.” 

The Tory base is genuinely fired up about this issue…

mdi-timer 7 December 2022 @ 09:11 7 Dec 2022 @ 09:11 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Lord Frost’s Free Market Rallying Speech: Less Social Distancing, More Socialist Distancing!

Lord Frost and Nadhim Zahawi were guests of honour at the ASI’s Christmas drinks party last night, held in the swanky surroundings of 1 Birdcage Walk’s oak-panelled library. Frost got the audience onside with a free market rallying cry, and predicted imminent success for the ASI in their fight against government control and market interference, including the decent joke: “a bit less social distancing a bit more socialist distancing”.

Nadhim boasted about the government’s T-Level plans, joking that the “TL Badge” on his lapel didn’t stand for “Tory leader”. Some in the audience seemed to wish it did…

mdi-timer 8 December 2021 @ 14:56 8 Dec 2021 @ 14:56 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Vapers Call On Javid to Attend COP9

Vapers from across the UK have called on the Government to take the COP9 Framework Convention Tobacco Control meeting more seriously. Whilst Health Secretary Sajid Javid MP was in attendance at COP26, vapers were left wondering why he didn’t instead attend COP9 which is far more relevant to his brief. Currently it is understood the UK delegation of powerless civil servants at COP9 are not getting across the UK domestic policy that vaping works to reduce smoking and save lives. Instead, foreign governments who own large swathes of their cigarette industry and the World Health Organisation are pushing an anti-vaping narrative, perhaps to protect their smoking cash cow. Reporters are banned from most of the meetings and have been thrown out of previous COPs.

Mark Oates, Director of We Vape head of the #BackVapingSaveLives campaign said “It’s frustrating to see the Government seemingly ignore an issue which is set to shorten the lives of billions. This is an area where the UK could show real global leadership.”
mdi-timer 12 November 2021 @ 10:20 12 Nov 2021 @ 10:20 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Adam Smith Institute Launches ‘Spirit of the Invisible Hand’ Whisky

The Adam Smith Institute are venturing beyond their usual output and have released a new line of 8-year-old whisky. The 40% Highland single malt scotch is bottled in Adam Smith’s home of Scotland and is “not recommended for socialists, statists, bureaucrats, and mercantilists.” Bottles have already been dispatched to Liz Truss, Boris Johnson, and Lord Frost.

Check out Guido’s less-than-successful review above… 

mdi-timer 3 November 2021 @ 17:07 3 Nov 2021 @ 17:07 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
Centre for Social Justice Appoints Swathe of New Directors

Yet more Tufton Street reshuffling this week as the Centre for Social Justice appoints three new directorships. Their Homelessness lead Joe Shalam, and former DExEU SpAd Gavin Rice are both being appointed Directors of Policy; Matthew Patten has been appointed as the CSJ’s political and comms director, having previously led the Mayor’s Fund for London as CEO and a short tenure as a Brexit Party MEP.

In yet more ASI news, Guido understands their current head of government affairs John Macdonald is being promoted to director of strategy, and Morgan Schondelmeier to director of operations from Monday, following the departure of Matt Kilcoyne. They’re also hiring a new head of comms. Get applying now…

mdi-timer 28 October 2021 @ 09:58 28 Oct 2021 @ 09:58 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
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