The Spectator

Barometer | 9 November 2017

Also in Barometer: the terrible toll of Latin American gun deaths

Pennies from haven

Last week’s huge leak of the ‘Paradise Papers’ has put the Channel Islands and the Isle of Man in the spotlight. But the original tax haven was actually New Jersey, not Jersey.
— New Jersey was struggling financially in the 1880s until governor Leon Abbett liberalised the state’s incorporation laws. This persuaded many companies to set up there rather than in New York, where they were doing business.
— In return, New Jersey charged a franchise tax. It has since lost its status as a tax haven, but it was copied by neighbouring Delaware, which still hosts the corporate HQs of many US companies.

Shooting stars

With 3.65 gun deaths per 100,000 population in 2016, how does the United States compare internationally?

Lowest
Singapore 0.03

Japan 0.04
South Korea 0.05
China 0.06
UK 0.07
Highest
El Salvador 40.29

Venezuela 34.77
Guatemala 26.81
Colombia 25.94

Honduras 20.56

Source: Institute for Health Metrics and Evaluation

Lost profits

When corporations shift their profits for tax purposes, which G7 nations lose the most in terms of GDP percentage?

US 1.66%
Japan 1.37%
France 1.06%
Germany 0.61%
Italy 0.38%
Canada 0.27%

UK 0.06%

The countries which have made the biggest losses worldwide are Guyana and Chad (both 8.05%). Those making the most from profit-shifting are Cyprus (1.3%), the Kyrgyz Republic (1.32%) and Macedonia (1.32%).
Source: UN World Institute for Development Economics Research, using IMF data

Unlock unlimited access, free for a month

then subscribe from as little as £1 a week after that
SUBSCRIBE

Linked in

The Chancellor is under pressure to halt a scheduled 3.9 per cent rise in business rates, which are linked to the Retail Prices Index.

Already a subscriber? Log in

Keep reading with a free trial

Subscribe and get your first month of online and app access for free. After that it’s just £1 a week.

There’s no commitment, you can cancel any time.

Or

Unlock more articles

REGISTER

Comments

Don't miss out

Join the conversation with other Spectator readers. Subscribe to leave a comment.

Already a subscriber? Log in