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Yep, and it's bad whichever side of the fence you're on. If you're of the left, it's denying public services much needed money and lowers the tax take considerably on what it ought to be. If you're on the right, it pushes up taxes on those of us who obey the rules and hits us all as individuals...

But remember lads (and lasses), we mustn't tax the rich else they'll off-shore all their money...