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Realistbear

F . T. : Over Half British Companies Foreign Owned

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http://www.ft.com/cms/s/c5ea7342-226c-11dc...000e2511c8.html

Half of British companies foreign-owned

By Vanessa Houlder in London
Published: June 24 2007 17:01 | Last updated: June 24 2007 17:01
Foreign ownership of British companies has risen from 30 per cent to 50 per cent over the last 10 years, according to new analysis from the UK’s Treasury.
The surge in foreign ownership reflects the recent wave of takeovers by overseas companies and the increasingly international outlook of institutional investors,
which partly stems from the controversial tax changes affecting pension funds introduced by Gordon Brown, the chancellor, in 1997.
The statistics, which exclude domestic unquoted companies, were described as “striking” in a Treasury discussion document on the taxation of foreign profits issued last week. It said the rise in foreign ownership made it harder to justify taxing foreign dividends paid to British companies......../
Many big companies have been lobbying the government to stop taxing the dividends paid to their foreign subsidiaries, which causes administrative problems but raises little revenue. The companies argue the Treasury has no moral authority to tax their worldwide income, given that an
ever-diminishing proportion of their profits is earned in the UK and the proportion of foreign ownership is growing.
The Treasury appears to have accepted their arguments.

And to make up for this lost revenue Brown has had to tax elsewhere. 50% of the UK's business now owned by foreigners. :o

Edited by Realistbear

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The especially nauseating thing about all of this is that the people repsonsible for flogging off UK companies to Johny Foreigner have been trousering obscene amounts of cash and have generally been lauded in the press as 'City Wizz kids' 'high flyers' 'masters of the universe' etc when all they have been doing is flogging off companies that often took generations to build up for a fast buck.

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Guest vicmac64

Its Just TREASON - to give away your countries democracy, to allow a foreign power control over every facet of our British way of Life, to allow unbridled immigration, to allow foreigners to buy British Companies - its Just PURE TREASON

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And to make up for this lost revenue Brown has had to tax elsewhere. 50% of the UK's business now owned by foreigners. :o

Good point especially if the Barclays / ABN merger goes through. That will be a massive tax loss to the exchequer when the head office moves to the Netherlands (arguably another mainland tax haven).

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The surge in foreign ownership reflects the recent wave of takeovers by overseas companies and the increasingly international outlook of institutional investors, which partly stems from the controversial tax changes affecting pension funds introduced by Gordon Brown, the chancellor, in 1997.

Can someone explain why the pension fund tax changes encourage foreign ownership?

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Looks like a sharecroppers society is on the way, boys. In between ever growing house prices and rising taxes mercylessly enforced by ID cards that is.

I believe Warren Buffett said you have to sell off the crown jewels to enjoy a fake illusionary standard of living based on the savings and sweat - the production - of others.

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