London Tax Haven.

London we are reliably informed is the onshore money haven in the world. Non British born citizens can avoid paying tax on their overseas earnings and pay only on money that they have brought into the UK.

The city can attract expats by exploiting this loop hole and it is seen as crucal in keeping London's competitiveness, should it be allowed though. We are informed by the times, however, that the 54 billionaires in the country payed a paltry 14.7 million in income tax, and most of this from one man, Dyson, who seems to feel a moral obligation. This is wrong they should be taxed.

Taxes on the rich shouldn't be from a socialist persepctive we want to remove your wealth it should be taxed on you should show a commitment to the country you are living in by making a financial contribution to it. The level should be set low, perhaps 5 to 10% of global earnings but they should still be taxed. It shouldn't be intrusive and simply on the principle if you want to live in this country you are expected to financially contribute to its well-being. British expats should be taxed in the same way perhaps 5% of their earnings, if they are living in a tax free country and earning above a threshold they should make a small contribution to their mother country. If they are in war torn zone, the UK will spend thousands extricating them. They benefit from the passport so they should make some small contribution.

As well as taxing at nominal levels, the government should be hardnosed, if you care so little about the country you are living in to not to be willing to pay 5% of your global earnings then we are happy for you to leave.

This should also be combined with much fairer taxes regarding inheritance. Is it really right that the government taxes so highly that which someone wants to leave their children. This should also be lowered to nominal levels 5% over a million and perhaps applied to all global earnings if you hold a British passport.

Thresholds on taxes applied to dividends and savings should be set at much higher levels perhaps at over 50,000 and also the taxes should be lower.

Coupled with this the government should begin being much more transparent on the the costs of everything within the country. We should all receive a tax statement showing us where our money has gone. The people should be told to vote on the correct level of taxes and where they want taxes to be spent. We should try and balance our budget much more and a flat tax rate should be adopted, but also raising the entry threshold, so that voting on taxes affects us equally throughout society.

We should also bring back a broadly based national service where the young of both sexes are asked to contribute to the well-being of the country by working in the army, hospitals and other social functions.

As has been noted it is unfair that the Scots have their own parliament and can vote on English issues it is also unfair that London's mega rich do not contribute financially to the well-being of the country.