Home to roost

[Suff]

I said that the way the EU was attacking Apple on profits and taxation would come back and bite them. Ironically it's not Ireland who feels the first pain. It is Luxemburg.

Who wins?

We do of course. Because we are leaving the EU, we are much more accommodating, our normal tax base is lower and the UK is McDonalds largest market in the EU.

Bexit, clearly, didn't even come into it.

[Workingman]

Oh, for goodness sakes, of course Brexit comes into it.

These global US conglomerates, Microsoft, Google, Apple, Starbucks, Amazon etc. have played fast and loose with a nations' tax systems. So have the Chinese and Indians, btw. The EU, for all its faults, is big enough to take them on. The UK is a minnow with little or no power.

McD is moving from Luxembourg in the EU to the UK because it is vulnerable to an EU attack costing them $millions. It expects Brexit, a soft Brexit, and the UK to be an offshore haven - part in, part out, shake it all about - sort of place. If we do not deliver it, and others, will go somewhere else, as will all the other chancers.

[cromwell]

Part of the reason I was agin the EU is the way it allowed multinationals off the hook when it came to paying tax; now it looks like they are having to change that. Good.

It's a bit ironic that the shock of Brexit might make the EU change for the better when it never would have otherwise.

[Suff]

These global US conglomerates, Microsoft, Google, Apple, Starbucks, Amazon etc. have played fast and loose with a nations' tax systems. So have the Chinese and Indians, btw. The EU, for all its faults, is big enough to take them on. The UK is a minnow with little or no power.

Actually no they haven't.

They have played HARD AND FAST with the WTO tax regulations. If countries don't want to adhere to those tax regulations because the top line profits of the organisations can't be taxed, then don't sign up to the WTO.

As for the EU? It has no tax competency conferred to it by the member states. In forcing what it has on Ireland it is actually breaking it's own laws. Nice to know just what kind of "regime" we are still linked to. At least the WTO rules are honoured, even in abuse. The EU has no honour. Only avarice and self interest.

As for being a Minnow. Dear God. This is the perception I've been fighting half my adult life.

It is so comforting to know that Russia is a "minnow", India and Brazil too. And those totally insignificant places like Canada and Australia. God what a problem it is to be so Insignificant....

Take India for instance. It's economy is smaller than ours, it's military is way less powerful (nuclear equaliser), yet they have over 1bn people.

Britain is not a minnow, as is proven every time a nation or group of nations petitions the UK to support them in the UN Security Council. Especially as we are one of the 5 countries with a veto there. Notably Germany doesn't have a permanent seat, let alone a veto. Neither does the EU. Well not until they misappropriate the French one.

The Grand Duchy of Luxemburg is a minnow. Hiding in the skirts of the EU. Roaring like a lion with borrowed prowess whilst mewling like a kitten every time the EU rattles it's sabre in it's scabbard.

[Workingman]

It depends hoe one defines minnow. We are talking burgers and fries not a veto at the UN, nuclear arms or military muscle. Compared to the EU and US markets the UK is a minnow.

Listening to an analyst on Ian King last night and his take was that McD, as well as others. have felt the winds of change in the EU regarding multi-national conglomerates' tax affairs. US ones, especially, want to avoid paying taxes on overseas earnings in the US, hence the Luxembourg route. However, with the EU looking to be more aggressive in the future they are searching for an alternative. Following Brexit they are banking on the UK being in the trading bloc, but outside its tax systems. That seems a fair analysis.

Oh, btw, Just as with the EU before it Brexit can now be blamed for everything - its the new game in town. It might be ridiculous, actually it is ridiculous, but looking at comments online it is the way things are going.

[Suff]

It depends hoe one defines minnow. We are talking burgers and fries not a veto at the UN, nuclear arms or military muscle. Compared to the EU and US markets the UK is a minnow.

Not enough time to get all the data and present it properly.

In short.

UK revenues are 18% of US at $1.6bn. Profit is higher than the US, by relative volume. The UK is one of 5 "high mover" growth markets.

The UK is on a par with Canada and slightly better than France and Germany. China and Russia are Growth but revenue is currently very small for the number of restaurants.

In terms of McDonalds the UK is a VERY BIG PLAYER. And what I've stated is taken directly from the financial breakdown and the Group annual report.

I really hate it when we're always done down for no reason at all. The UK is not a minnow in anything it does. Not even space technology. Regardless of what Blair told us for 13 years.

The UK chooses what it wants to be good at and then becomes one of the major players in the world at it. That is a fact which everyone should hold firmly in their minds when talking about how the UK should leave the EU.

My take is head held high and with the EU in the dirt behind us. If they don't want to play ball then we get out and let them stew for a year or two until the pressure becomes unbearable. Then we decide what "we" want to negotiate and tell "them" the terms.

Or we could start making mewling noises and give the avaricious sonsofunmarriedmothers whatever they want!