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Press Release

GMB on Liam Fox twaddle

22 February 2012

LARGE COMPANIES ARE AWASH WITH CASH SO TAX CUTS WILL ADD TO CASH PILES AND DO NOTHING TO BOOST DEMAND SAYS GMB IN RESPONSE TO FOX

Making it easier to sack workers or to treat them badly at work will increase insecurity and conflict - like current dispute over bullying at the Swindon PFI hospital- and will not create a single job

GMB commented on the call by Liam Fox MP for more tax breaks for business and to make it easier for firms to sack and mistreat workers with impunity.

Paul Kenny, GMB General Secretary, said "So soon after Mr Fox resigned after admitting "mistakes" of "blurring" roles here he is again making further mistakes, blurring extreme right wing drivel with the changes in policy the economy actually needs.

Large companies are awash with cash. Cutting their taxes will simply add to these cash piles and do nothing to boost demand.

Many large companies already use offshore tax havens to cut their tax bills. Others, like Boots, AA, Four Seasons and Travelodge, loaded with private equity debts already pay little or no corporation tax at all. Using tax havens must become illegal. Differential treatment for tax of debt and equity must finish. Companies should be encouraged to start spending their cash piles to create jobs rather than hoarding cash.

Making it easier to sack workers or to treat them badly at work will increase insecurity and conflict - like current dispute over bullying by Carillion at the Swindon PFI hospital- and will not create a single job.

A period of silence from Fox spouting this twaddle would be welcome”.



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