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Theresa May, Stop What You’re Doing & Read This!

by John Brian Shannon

The elephant in the room that you fail to see, Theresa May, is that the EU wants a People’s Vote Labour Government and your party is bleeding MP’s at a rate of four per month. Do the math!

It’s clearly in the EU’s best interest to delay Brexit in the hope that Theresa May’s party will continue losing four Conservative MP’s/month until they no longer command a majority in the UK House of Commons whereupon Labour leader Jeremy Corbyn would contrive a Vote of No Confidence in the government thereby triggering a General Election.

And the spectacle of almost 3-years of Brexit negotiations that haven’t gone anywhere isn’t doing the public mood any good. Therefore, in a General Election, Labour could capture some 325-seats and the Conservative Party would go down in flames.

Jeremy Corbyn (almost) can’t lose now that other opposition parties — including the new Independent Group freshly buoyed with former Conservative Party MP’s — could combine forces to bring down the government. (And it’s conceivable that more Conservative defections could still occur)

Don’t look now, but the sharks are circling, Theresa — and it’s you they’re circling.

If you don’t think Jeremy Corbyn is capable of pulling-off such an upset you’ve seriously underestimated his capabilities!

It doesn’t matter if they don’t agree policy. What matters is that they could work together on an ABM platform (ABM = Anyone But May) to bring down the government.


Just What the EU Wants: Another ‘People’s Vote’

And (obviously) the most direct path to cancelling Brexit is via an Article 50 extension to provide enough time for Remainers, for Remain-fixated media types, for the EU, and for the Labour Party to ‘play’ or ‘game’ the Brexit narrative until they get the result they want — which is a cancelled Brexit and a cap-in-hand UK asking to be readmitted to the EU because it wasn’t competent enough to arrange a viable exit from the European Union.

Jeremy Corbyn is on record calling for a so-called ‘People’s Vote’ to further confirm or deny the Brexit that UK citizens voted for. (Notwithstanding that there have already been two ‘People’s Votes’ — the June 23, 2016 referendum and the June 8, 2017 UK General Election where every party that won seats, ran on a pro-Brexit platform)

But Theresa May ‘played’ the Brexit card for too long and will now get burned unless she acts quickly to regain lost momentum.

Just as the frustration level with the (almost 3-year-long) Brexit process is about to peak, Jeremy Corbyn, his Labour Party, and the EU, appear to have played their cards exceptionally well in calling for another EU referendum at this moment and the chance for a Labour election landslide is high should Theresa May try to extend the Article 50 Brexit date beyond March 29, 2019.

You couldn’t make this up if you tried!


BEFORE You Lose the Next Election, Theresa, Consider These Points:

If You:

  1. …continue to try to thrash your amended Withdrawal Agreement and your beautifully-written-but-legally-meaningless Political Declaration through the House of Commons you’ll bleed evermore MP’s and hand the government to Jeremy Corbyn and his party before you realize what’s happened.
  2. ….seek to extend Article 50, you might lose even more MP’s to the Independent Group and Jeremy Corbyn will become Prime Minister before you know it.
  3. …prevent an Article 50 extension vote from occurring tomorrow and instead drop in an EFTA + UK control of immigration option for MP’s to vote on as an indicative proposition, you’ll change the entire Brexit conversation in a positive way! And goodness knows the resolution might actually pass in the House of Commons with a healthy majority. Whereupon, you’d be on the fast-track to Brexit (as the EU has previously approved the EFTA + UK control of immigration option) and your personal life/life satisfaction would dramatically improve and your government could get back to governing instead of tying itself in knots.
  4. …resign your position as Prime Minister and hand the reins of power to Micheal Gove — he’ll get Brexit done and make it look easy — and he’ll do it without losing MP’s. And you could take-up the position of the Leader of the House of Commons (Andrea Leadsom’s present position) while Andrea Leadsom could move to the House of Lords where she’ll be graciously welcomed to finish out her political career.
  5. …cancel Brexit altogether, at this late date(!) the Conservative Party might cease to exist in the future and such is the present mood of the public that you might lose your seat in Maidenhead and the chance to become a member of the House of Lords at some future date.

Like it or not, those are your choices, Theresa May.

There aren’t any other viable choices, so you’ve got to choose between those five. And you’ve got to decide before 10:00am to allow the Speaker of the House of Commons enough time to be properly informed about what’s planned for the day.

‘Leading from behind’ (or being behind the curve) isn’t an option for you any longer.

It’s time to stick your neck out and make a decision; One that costs you the fewest MP defections and changes the entire, sorry, and disjointed Brexit narrative, thereby putting some power back into UK politics which is looking uncharacteristically weak in recent months.


Bonus Video

Video courtesy of Channel 4 News

Rise, and rise again, until lambs become lions, Theresa May!

 

Is Apology Due From Those Who Invest in Foreign Tax Havens?

by John Brian Shannon

Since revelations have surfaced that billions of pounds sterling have left the UK for foreign tax havens there have been calls for people using foreign tax avoidance schemes to be ‘guilted’ into making a public apology.

Labour leader Jeremy Corbin suggests that anyone using an offshore tax haven should apologize to the country.

One British person who has millions invested in the Cayman Islands is the acting Queen of the United Kingdom. We don’t know if Jeremy Corbin wants Elizabeth Regina to apologize to the British public for investing overseas, and we assume he knows the Queen isn’t required to pay tax under British law, but does so voluntarily.

On a more serious note, the Labour leader is quite right to be appalled at those who, having been raised and who earned a good living in one of the best countries in the world, would then take their money out of the country that made them rich to invest it offshore!

Why would they do it? Because they can make higher returns on their investment (at higher risk) and it’s a way for companies to lower their overall tax burden, and individuals can hide money from family members.


Simple Solutions Work Best

Like taxing any British sterling that leaves the country at 20 percent. That way, HM tax office collects significant revenue and the government can better fund schools, hospitals and roads, etcetera.

Even so, some will choose to invest overseas because they can earn 50% returns or better in so-called ‘Frontier economies’ and even having paid such a (proposed) tax they’ll still earn 30% or better.

For each individual or business the first 100,000 pounds sterling taken out of the country shouldn’t be taxed, but everything after £100,000 individuals and companies should be required by law to pay the 20% tax.

By using this high-ish threshold, Mom, Dad and the kids can go holiday-making in foreign countries and not have to pay the foreign withdrawal tax, perhaps in their entire lifetime.

NOTE: For the first £100,000 worth of withdrawals it could go in Dad’s name, then Mom could use her lifetime 100,000 pounds foreign withdrawal limit. Therefore, a family unit would have a combined lifetime limit of £200,000. Once they hit that threshold, thereafter they would pay 20% tax on each pound that they send or spend outside the country.


On a Separate Note; 19 Billion of Them, Actually

Britain loses about £19 billion annually on so-called ‘Foreign Remittances’ on account of foreign-born workers sending their money home to their families. Who could blame them?

Yet it’s a serious problem, but as previous governments haven’t figured out a way to stop it, it’s never been addressed.

SIX PERCENT of Thailand’s GDP comes from foreign remittances, for just one example, and many other countries count foreign remittances as an important part of their GDP.

UK - Remittance flows from Britain 2015 - Pew Research

Although foreign remittances are only rough estimates, at least $24,878,000,000 in remittances were sent from the United Kingdom to other countries in 2015 alone. The actual amount could be much higher. Image courtesy of Pew Research.

Therefore, expats should be able to send the first 100,000 pounds home without paying the 20% tax — but after that they’re draining the country of money(!) so they must begin to pay the tax when they hit the £100,000 mark.

The trick is to be fair with foreign workers who work hard to earn their money, but to stop the UK being unduly taken advantage-of which has been happening for decades.

The government relies on voluntary notifications of such foreign remittance sending, so the number is pegged at £3.2 billion pounds sterling on the GOV.UK website.

Money exchange units such as Western Union, PayPal, World Remit, and banks and trust companies know the real numbers, but interestingly, not one of them have ever been called to testify to the House of Commons about the gross total amounts transferred out of the UK annually. Not once…


It’s Either Treason Or it Isn’t. It Can’t be Both

With a 100,000 pound threshold, my tax idea isn’t aimed at *normal citizens* nor is it aimed at *normal expats* sending a few thousand pounds home to their families — it’s aimed at the fat cats, at the criminal syndicates, and at wealthy people who earned or inherited their fortunes in the UK who should be deeply ashamed they’re not re-investing in the country that made them rich.

To me, such people should have a fair trial on Friday and if they’re found guilty, let them be found guilty of treason (for that’s what it is, IMHO) and be shot dead on Monday — but that law isn’t likely to be passed in the UK House of Commons anytime soon.


It’s Been Going On for Decades; What to Do Now?

Perhaps we could say; ‘What’s gone on before now we can leave aside, as there weren’t sufficient laws nor guidance for individuals or companies, and frankly, in past decades the taxation rates were grievous to be borne by both individuals and companies’ — but at this late date we’re going to create new laws (that don’t need to be complicated!) to counter the astonishing, continuous, and increasing run on the country’s wealth.


Everything is Nothing – Unless You Can Accurately Quantify and Qualify It

Therefore, the UK government should call banking experts and wire transfer companies to testify (under oath) before the House of Commons as to the general extent of the foreign remittance problem and to quantify and qualify the offshore tax shelter monies that leave Britain annually for foreign tax havens.


How to Plug a Leak

The goal should be to compel banks and wire transfer companies to become ‘part of the solution instead of part of the problem’ as the government needs the information — the banks and transfer companies have it; the government doesn’t! — and nobody else on the planet could begin to figure it all out.

Getting a handle on this decades-long travesty (drum roll, please) could provide a double-boost to the UK economy by;

  1. preventing multi-billions of British sterling from leaving the country by making it uneconomical,
  2. and by capturing billions in tax revenue on money still determined to leave the country,
  3. and allowing the government to earn enough revenue to lower the corporate tax rate to 14.5% (to match Canada and other competitive nations’ corporate tax rate)
  4. which would drive investment to the UK in the billions, and perhaps a trillion pounds over 10 years.

See what plugging a leak can do for the United Kingdom?


Foreign tax havens

Foreign tax havens. Image courtesy of Cayman Financial Review. Click the image to visit Cayman Financial Review for general information on foreign tax havens.

UK Election: Strengthening Britain’s Brexit Hand

by John Brian Shannon

UK election 2017 - The six party leaders

With a fresh mandate from UK voters, Prime Minister Theresa May’s negotiating hand should thereby be strengthened — allowing her to obtain the best Brexit deal for Britain. Image by Samankashwaha

Some very smart people a long time ago, decided to prevent another World War by working to unify European countries that share and haven’t always *shared well* the European continent.

To preclude another internecine war they created several brilliant Euro-centric political institutions such as the European Community, the European Economic Community, the European Union, the Eurozone, the European Court of Justice, and other political, economic, and judicial European institutions — and they enthusiastically embraced internationalism and multilateralism via institutions such as the United Nations and NATO.

It wasn’t all about preventing another war, of course. By 1972 it had become as much about improving the pan-European economy as it was about presenting a united bloc to the militarily powerful Soviet Union.

Britain’s decision to join the EC/EEC and later the EU was obviously part of that geopolitical master plan — and if you read the texts carefully enough with a little ‘reading between the lines’ — it becomes obvious to all but the most tone-deaf that senior British politicians of the era and their negotiators considered that Britain might not be married to the continent forever.

To put it forthrightly, Britain joined the European project to help Germany and other countries ‘gel together’ under a unifying organization to prevent another European war — and it’s possible to find internal texts proving that Britain planned for a possible exit from the EC and the EEC and (implied) from the EU, once the continent became permanently united under one political structure.

Therefore, only those too young to remember the history of the EC, the EEC, and the formation of the EU, don’t see that Brexit was always on once the continent had become irrevocably joined.

Not only did Great Britain pay more than it’s fair share in WWI and WWII, it also contributed more than asked during the Cold War, and it contributed more to the European project than any country with the notable exception of the United States.

Now is the time for Britain to leave the EU and make up for lost time. So said 17+ million British voters on June 23rd, 2016.


It is against this backdrop that a majority of Britons still want Brexit, a clean Brexit, and a fair Brexit.

And why shouldn’t they? The UK has paid more than it’s fair share towards the continent since 1914 and still contributes more than it receives from the EU. Britain, the cash cow.

Yet some in Britain can’t stop haranguing the government for having the audacity to try to deliver what the people voted for — Brexit.

Never since Prime Minister Winston Churchill called upon Britons to prevail no matter the hardship has a country needed the strong support of its citizens and all levels of government.

Brexit is going to be one of the biggest challenges the UK has seen in decades.

And instead of ‘All Hands on Deck’ with every person in the country coming together to strengthen the hand of the Prime Minister and her negotiating teams during what will undoubtedly be difficult negotiations complete with EU officials acting the part of the suddenly jilted lover, we have some British people doing everything in their power to derail Britain’s chances of getting a good deal!

It’s your future, people!

I know you lost the referendum, but for God’s sake don’t sabotage your country just because you don’t like the democratic result.


Of course, it’s the job of the loyal opposition parties to provide policy alternatives to the sitting government’s plans. Nobody can blame them for performing their noble calling which has roots going back hundreds of years.

But it seems that some are so upset they lost the democratic referendum that they actually want the government to fail, they want the Brexit that was approved by 17+ million voters to fail, and they want to demean anyone who supported Brexit.

Really, if you prefer the EU to the UK, why don’t you just move there and become a citizen? I’ll help you pack.

This is no time for un-democrats to undermine their own country’s democracy, and who believe in the superiority of an un-elected Brussels cabal that lives off the largesse of UK (and German!) taxpayers — both countries pay more per capita towards the EU than any other country.

All of whom conspired to convince the Prime Minister to call an election to prove to EU negotiators that Britain is united and moving forward with Brexit, and to quell the small number of UK-based naysayers in the Houses of Parliament and on the street — who get far too much airtime on slow news days.

With a fresh mandate from voters on June 8th Prime Minister Theresa May’s negotiating hand should be dramatically strengthened, thereby allowing her to obtain the best Brexit deal for the UK.

This Prime Minister has gotten stronger every month since being sworn into office, and calling an election to silence the outliers and to strengthen her hand in the Brexit negotiations that will determine Britain’s destiny for decades, may turn out to be a stroke of genius.

Voting to tie one hand behind Theresa May’s back at this point in time only serves to weaken the United Kingdom. Surely no true Briton would consider such a thing.

READ: What Mandate for Theresa May? (Project Syndicate)