Turnover Tax

Companies are usually taxed on their profits. Consequently unprofitable companies make little contribution to public services, though they may make heavy use of them.

I should like to replace profits tax by a tax on turnover, levied at such a rate that the yield would be the same as that for profits tax.

That would leave successful companies with more money for investment and for distribution as dividends, while it would hasten the demise of unprofitable companies.