Thursday, November 15, 2012

Treasure Islands sales: up 20,459%

Yes, there has just been a big spike in sales of the TJN-supported book Treasure Islands in the UK, putting it at Number 1 on Amazon's Movers and Shakers list. This was probably due to a combination of all the tax discussions in the UK, and this. 

PS yes, this image is from tax-dodging Amazon, but the fact is that this problem is systemic. As Andy Street, the head of UK retailing giant John Lewis warned recently: multinationals involved in overseas tax havens will "outinvest and ultimately out-trade" businesses paying full taxes in the UK, risking driving them out of business.
"They will outinvest and ultimately out-trade us and that means there will not be the tax base in the UK. So I do think it's an issue that needs to be examined."

Street said that the issue was wider than any rivalry between Amazon, the online retailer that was heavily criticised on Monday by MPs examining tax avoidance schemes, and John Lewis.

He said: "It's to do with what our customers expect around a fair and level playing field and I suspect our customers do think both companies should be treated in the same way."  
Well said. This is about distortions in, and the corruption of, markets.  As such, it is an issue that can be embraced by those on the left and the right of the political spectrum. TJN has many supporters on both sides.


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