Money transfer to be stopped ?

had_enough · 04-10-2006, 04:02 PM

what does everyone think about people earning money here, and then simply sending it via a money transfer compnay to other parts of the world.This is when migrant workers come here and earn sterling and then send their money back home at x times the going rate.
Are we loosing out on taxes, which could be collected from money spent elsewhere instead of in this country.

Bruv · 04-10-2006, 07:02 PM

Yes....
Your point is?

Sid · 04-10-2006, 07:16 PM

Quote:

Originally Posted by had_enough

what does everyone think about people earning money here, and then simply sending it via a money transfer compnay to other parts of the world.This is when migrant workers come here and earn sterling and then send their money back home at x times the going rate.
Are we loosing out on taxes, which could be collected from money spent elsewhere instead of in this country.

But they'll have already paid tax on their earnings, so what they do with their money is up to them, isn't it?

And I don't understand the part about x times the going rate, please explain.

had_enough · 04-11-2006, 07:36 AM

If we are to believe that migrant workers earn pittance compared to the norm, then they are paying pittance in taxes. Imagine £1 being send to zimbabwe ( at the going x rate ), or even on the black market.

My whole point is that we are loosing millions of pounds yearly, due to money leaving the country via these money transfer companies.

Sid · 04-11-2006, 04:57 PM

Quote:

Originally Posted by had_enough

My whole point is that we are loosing millions of pounds yearly, due to money leaving the country via these money transfer companies.

Do you have the same thoughts on people buying property abroad?

What about going on holiday abroad, do you not do that yourself? If you do arre you not allowing money to leave this country, and a lot more than the few quid sent home by immigrants in this country?

And as for money being worth more abroad, what's your problem with that?
In some parts of Africa men are willing to break rocks for twelve hours a day for as little as a pound, and considers himself lucky to have the work. Why should he and his family not benefit from the generosity of a relation who's willing to send a portion of his meagre wages to help them? Anyone who begrudges the smallest respite from a cruel existence is mean-spirited to say the least.

Bruv · 04-11-2006, 11:49 PM

...Well said Sid.
Not too long ago there were rules limiting money taken or sent to foriegn climes,even your holiday money.
I suspect that ten "Illegals" sending aid to their ageing parents wouldn't match the cost of one UK soldier in Iraq.
And there is another arguement that says that this country grew rich on the back of its Empire, and we "Owe" them something in return.

But all that aside, if Brown thought we needed to safe guard foriegn money transfers to protect the Pound, I sure he would put something in place.