Why should shareholders take a drop in profits to satisfy the public's hunger for banker's blood? It's absolutely right that the company looks at ways to maximise its shareholders' returns, it is their fiduciary duty to do so.
With the current sentiment that any company with an HQ in Britain should be paying tax on all its profits worldwide to the UK wherever they are made along with some extra and shouldn't be making profit anyway because it's clearly unfair for them to be making money when state spending is being reduced to sustainable levels it's a wonder any multinational would want to operate from here.
---------- Post added at 19:25 ---------- Previous post was at 19:23 ----------
Quote:
Originally Posted by TheDaddy
You don't think this "insurance scheme" free and how do they repay us for getting them this cheap money, by charging us a much higher interest rate than they borrowed it at and paying relativly begger all tax on the profits.
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HSBC paid tax on its profits made in the UK, as is right. These form a small part of its profits and will be mostly erased by these regulations if they remain here.
Contrary to the opinion of UKUncut companies pay tax where they make the profits.
---------- Post added at 19:28 ---------- Previous post was at 19:25 ----------
I'm not some hardcore capitalist, I just think HSBC have every right to consider changing their domicile and to seek concessions to make them reconsider, and am somewhat surprised they haven't already moved.