Should billionaires and multinationals pay fair tax?

No, because the trouble with EU standards is they are also laws. You have to comply. The nice thing about standards is that there ought to be many to choose from, so if you think it behoves you to use the most popular one then go for it, but if you have some special reason to choose a lesser known standard, or your own standard (many industries evolve their own standard through natural evolution) you ought to be able to do so. If banana growers or supermarkets think there is utility in a bendy banana standard then let them write it, don't spend public money having some eurocrat do it.
The EU uses standards not so much to improve efficiency or utility but as protection against foreign competitors, which has the corollary effect of choking native competition too. Sure, some products benefit from an enforced continental (or even global) standard, but not nearly as many as are currently the case . Forcing everyone to adopt a one-size-doesn't-fit-all standard, in most cases, increases prices for nearly everyone by reducing competition and innovation, and therefore improvement and choice.
The other problem with government -especially EU- standard is proliferation. When it's your cushy government job to write standards you will keep doing it whether those standards are helpful or asked for. Hence we have thousands of pointless EU standards for the most mundane of items, with new ones every day. Sure make a case for drug, food, water standards, but toasters? Pillows? Pencil erasers?


No, you are erecting the usual internet strawman that the only possibilities are "what we have now" or "absolutely nothing at all" with nothing inbetween allowed. I argue for fewer standards, not none, or standards that are more voluntary -at the risk of company reputation- rather than enforced, or standards that are arrived at by industry not politicians. Government standards always emerge after the fact; after things have gone wrong and everyone is already aware (think asbestos). (Victorian food adulteration applied mainly to corn/flour since the price was set artificially high by the gov't corn laws, and the loaf law that made it illegal to bake anything other than 14oz . Corn law was repealed in 1845 and food instantly improved. The food adulteration regulations didn't come until 1860 by which time the problem was virtually moot).


Quality assurance comes at cost. Surely, it is better to have a more competitive and less regulated marketplace where consumers can choose whether to pay additional costs to guarantee quality, and where market innovations find more effective ways of policing quality? If I want a quality tool I expect to pay a lot. But I wouldn't like to have the option of pound-shop throw-away tools taken away from me.

Your arguing essentially for anarchic economic system. Take the current healthcare scare in eggs. Using your argument then we wouldn't be able to trace the eggs as we don't know where they were produced and how they were transported.

You may not buy eggs off the back of the lorry but whats stopping your supplier buying something they need from a back of the lorry and then having to determine what was the cause of the problem when there are multiple input items that go into a product.

Sorry to say this Gerry but the system you want is totally insane.

When I hear talk that we need to cut regulation and it will release our economy - these regulations are choking the industry. They never provide sepcific examples. Well one example is when the US cut financial regulations and let banks speculate and who picked up the tab?

The most important aspect of any well functioning economy is that power does not accumulate leading to one sector, industry etc dominating the debate and policies.
 
Sponsored Links
Cameron wanted a bonfire of regulations.

"We're going to kill off the safety culture... "
" 'kill off the health and safety culture for good'"

here's his speech from 2012
http://www.independent.co.uk/news/u...n-i-will-kill-off-safety-culture-6285238.html

"Cameron claims victory in bonfire of the Building Regulations
27 January, 2014 The Architects Journal
"In a speech to the Federation of Small Business Cameron said 100 standards and building regulations were facing the bonfire – a move which he claimed would save around £60 million a year for housebuilders – or £500 for each new home built."
https://www.architectsjournal.co.uk...e-of-the-building-regulations/8658068.article

Here's the bonfire

GrenfellHulk.png



"Government ministers ‘congratulated themselves’ for cutting fire regulations"
http://metro.co.uk/2017/06/16/gover...mselves-for-cutting-fire-regulations-6713967/
 
No, because the trouble with EU standards is they are also laws. You have to comply.
We may as well scrap all the consumer protection agencies. Who cares if houses burn down caused by mobile phone batteries exploding?
Who cares if children are injured and disfigured by faulty wheelchairs? Who cares if people are injured and killed by faulty accelerators in cars? Who cares if a car bursts into flames in an accident? Who cares if the seat belt breaks or causes injury in a car accident? Who cares if the HGV vehicles are allowed through pedestrian areas?
Who cares if the planes fall out of the sky through poor maintenance? Who cares if companies lose revenue through counterfeit goods being allowed?

Let the manufacturers make their own rules? Do you really suppose that they would have the consumers interest at heart?

I think your laissez-faire attitude would lead to utter chaos, and anarchy.
 
Tory MPs voted down a Labour amendment to the Housing and Planning Act in 2016, which sought to ensure that all private landlords made certain that their properties are “fit for human habitation”.
 
Sponsored Links
Your arguing essentially for anarchic economic system. Take the current healthcare scare in eggs.
No, you're still erecting a strawman by claiming that I'm arguing for zero regulation, which I never did.
You're also using the easy targets of food and drugs and using them as exemplars of all regulation, even though food and drugs are two cetegories I specicially singled out as needing some form of regulation, albeit it less than we currently have. So yes, you would still be able to trace eggs if you regulate that they must carry a producers mark. But such a regulation need not come from the law but from the industry itself; e.g. the retailer (or more likely the insurers who are the most risk averse of all) who needs to cover his arse. 'Mark your eggs or I'll buy them from someone who does, because I'm not taking the blame for your salmonella'.

Well one example is when the US cut financial regulations and let banks speculate and who picked up the tab?
The regulation was only necessary because of gov't distortion of the market in the first place. One kludge to fix another kludge, as usual. Deregulation works provided you put responsibility of bad practice into the hands of the businesses themselves. It doesn't work if you simultaneously guarantee the business's losses (using public money of course!).
 
Last edited:
Cameron wanted a bonfire of regulations.
"we will scrap over-zealous rules which dictate how to use a ladder at work or what no-smoking signs must look like" wow what typical Tory scum!

Cameron wanted to scap various 'green' regulations, so ironically this would have made the flammable cladding less likely to be added to the tower...
 
No, you're still erecting a strawman by claiming that I'm arguing for zero regulation, which I never did.
You're also using the easy targets of food and drugs and using them as exemplars of all regulation, even though food and drugs are two cetegories I specicially singled out as needing some form of regulation, albeit it less than we currently have. So yes, you would still be able to trace eggs if you regulate that they must carry a producers mark. But such a regulation need not come from the law but from the industry itself; e.g. the retailer (or more likely the insurers who are the most risk averse of all) who needs to cover his arse. 'Mark your eggs or I'll buy them from someone who does, because I'm not taking the blame for your salmonella'.


The regulation was only necessary because of gov't distortion of the market in the first place. One kludge to fix another kludge, as usual. Deregulation works provided you put responsibility of bad practice into the hands of the businesses themselves. It doesn't work if you simultaneously guarantee the business's losses (using public money of course!).

Self regulation by the industry doesn't work. By its very nature there needs to be checks and balances above them.

Easy targets? Come on your whole argument lacks merit - other than we shall unleash this economy if we cut regulation and then when given an example of countries with low or non existent regulation you talk about history - which if you recall you still haven't provided any evidence.

What specific distortion was there?
 
Self regulation by the industry doesn't work. By its very nature there needs to be checks and balances above them.
What? No you've missed the point again. What causes an industry to regulate itself is the fear of failure. If the gov't guarantes to cover your losses -i.e. not allow you to fail, as it did with the banks- you will not regulate yourself.

hen given an example of countries with low or non existent regulation
Seriously? The example was Somalia! (or something) If you can't tell that the difference between Somalia and the west is not the amount of regulation, you're faking. Find a country that is plausibly similar to Britain but has much less regulation. I guess the US qualifies in some ways, and it is uneqivocally more productive on drugs, food, tech...

What specific distortion was there?
Specifically the creation of Fanny Mae and Freddie Mac and the pressure they put on lenders to give cheap loans to risky borrowers, while guaranteeing any loss. A policy which we (and others) emulated. When America sneezes, the world catches a cold.
 
Last edited:
What? No you've missed the point again. What causes an industry to regulate itself is the fear of failure. If the gov't guarantes to cover your losses -i.e. not allow you to fail, as it did with the banks- you will not regulate yourself.

I suggest you look at history as to why regulation came in because all the failures caused massive instability and uncertaintly which affected growth as people were not willing to invest or spend.

Can you tell me about the shadow banking sector?

You have a very simplistic view -you don't factor in moral hazard, externalities, expectations etc into your argument. So that's why you keep on repeating the same old broken argument similar to the broken windows fallacy.
 
I suggest you look at history as to why regulation came in because all the failures caused massive instability and uncertaintly which affected growth as people were not willing to invest or spend.
You mean the more than a century of unregulated banking in which there were no significant recessions or bubbles? Indulge me. Why did regulation come in?

Can you tell me about the shadow banking sector?
No, should I?

You have a very simplistic view
Sorry I didn't realise you were a Nobel prize winning triple PhD economist. Please school me in moral hazard, externalities, and expectations?
 
You mean the more than a century of unregulated banking in which there were no significant recessions or bubbles? Indulge me. Why did regulation come in?

:LOL::LOL::LOL::LOL::LOL::LOL::LOL:

Can you tell me the specific time period you are referring to.

I await an even bigger laugh.

No, should I?

Thought so. You are not speaking from knowledge or experience.

Sorry I didn't realise you were a Nobel prize winning triple PhD economist. Please school me in moral hazard, externalities, and expectations?

If you want to discuss the issues then be prepared to understand the whole issue not just a little bit you picked up and run with.
 
Tory MPs voted down a Labour amendment to the Housing and Planning Act in 2016, which sought to ensure that all private landlords made certain that their properties are “fit for human habitation”.

well there is a flip side to that coin ;)

How about making sure that some tenants are fit to live in a land lords property ? some of the rented props we work in , u would need to wipe your feet on a door mat as u leave.

shocking disrespect for others property. They are a health hazard to work in. There are some instances were tradesman have refused to work in some props due to the way some of these people live. Had one recently were the landlord finally evicted a family the place has had to be gutted & refurbed

And these animals (imho) are going to inflict them selves on some other un-suspecting LL
 
Sponsored Links
Back
Top