Fortsätt till huvudinnehåll

Tax is the answer for climate financing

No, it is not, but Tax Justice has been making approving comments about what is being hatched in Copenhagen, which should put one on one's guard immediately.

The proposals are for a financial transactions tax and a carbon tax, so that the rich can help the poor. But the likely effects of a financial transactions tax are unpredictable, as the system is a delicately balanced one. An effect of trading at high frequency and volumes is that exchange rates keep within close limits, which probably helps to stabilise the system. But since it is working quite well at the moment and is peripheral to the land-based boom-bust cycle, it sounds like a bad idea to interfere through taxation. In any case, where is the principle behind such a tax?

Taxes on carbon hit those in cold or remote areas the hardest, which adds to congestion in the more populous regions. That is a bad idea. And poor people, being tenants, are not in a position to do much to reduce the size of their heating bills. This sounds like another soak-the-poor scheme dressed up with good intentions.

The Scandinavian countries have been cited as models. However, it is never a good idea to cite them as examples of anything. They have small populations, a large land area and plentiful timber and hydro-electric power, not to mention nuclear power stations - 47% of Sweden's electricity is nuclear.

All talk of rich countries and poor countries ignores the fact that there are poor people in rich countries and rich people in poor countries. Tax normally hits the poor hardest in all countries.

And where will the money go? As always, politicians the world over will grab what they can and syphon it off into their own pockets and those of their cronies. This is money taken from the poor in the first world. Where is the fairness? Where is the justice?

Kommentarer

Populära inlägg i den här bloggen

The dreadfulness of British governance

I wrote to my MP on two entirely separate issues recently. The first was to do with the replacement for the Inter City 125 train, which at £2.6 million per vehicle, is twice as expensive as it ought to be. The second concerned the benefits of a switch from business rate and Council Tax to a tax based on site values. In both cases, the replies were full of spurious, unsubstantiated assertions and completely flawed arguments. This is typical. You will not get an iota of sense from the government on any area of public policy at all - finance, economics, trade and employment, agriculture, housing, health, transport, energy. All junk. If you write to your MP you will invariably receive answers that are an insult to your intelligence, no matter what subject you are writing about. Of course they cannot understand statistics. They are innumerate. Whitehall is staffed with idiots with a high IQ. Look at their IT projects. And mind your purse, they will have that too.

How much more will the British tolerate?

The British are phlegmatic, tolerant and slow to rouse. Thus there was no great reaction after the terrorist attack in July 2005. The murder of Lee Rigby created a sense of outrage, but nothing more, since it appeared to be an isolated incident. Two serious incidents within a fortnight are another matter. Since the first major terrorist incident in 2001, authority has tried to persuade the public that Islam is a religion of peace, that these were isolated events, or the actions of deranged "lone wolves", having nothing to do with Islam, or to reassure that the chances of being killed in a terrorist attack were infinitesimally small. These assurances are are beginning to wear thin. They no longer convince. If government does not act effectively, people will take the law into their own hands. What, however, would effective action look like? What sort of effective action would not amount to rough justice for a lot of innocent people? Given the difficulties of keeping large n...

Battery trains fool’s gold

A piece by the railway news video Green Signals recently reported the fast charging trials for battery operated electric trains on the West Ealing to Greenford branch, in west London. In a comment under the video, I described the project as technological overkill, bearing in mind that before dieselisation in the 1960s it was worked by the tiny steam locomotives of the Great Western 1400 class, a 1932 design based on an 1870s design. The money that has been spent on the experiment would have paid for a small fleet of the old things. Elsewhere in the comments, I was critical of the 800 series trains. This produced a response from the makers of the video, as follows. “I may be grasping at straws here but I am guessing you don't like 8xx series trains all that much and rather wish we still had Kings, Castles and (for the branches) 14xx's. Fair? ” My reply was as follows... Yes you are grasping at straws. The model for long distance stock is the class 180, which is a 23 metre veh...