Daniel Priestley

Well, that's not a consumption tax. Exactly. It's not a consumption tax. That's what I'm saying. So... No, so if you tax profits, right, then those profits have to accumulate in that country. And because of the digital ecosystem that we now have, the world we now live in, I can lease the database off of my company in Luxembourg. I can license my logo from my company.

I understand how profit shifting works.

I understand how profit shifting works.

I agree with you on the passion and I agree with you on the problem. I don't agree with you on the solution because in 2019... That's fine because we'll all be rich and our kids will be rich. In 2020, and that's not what I'm saying, in 2020 we made a decision globally to shut down the economy and we taught everyone that they can live and work from anywhere.

I agree with you on the passion and I agree with you on the problem. I don't agree with you on the solution because in 2019... That's fine because we'll all be rich and our kids will be rich. In 2020, and that's not what I'm saying, in 2020 we made a decision globally to shut down the economy and we taught everyone that they can live and work from anywhere.

The biggest threat to everything you're saying is remote working. The fact that we can live and work from anywhere. Our grandparents, their boss, if their boss owned a company, that company had to physically be in the country and the boss had to physically be in the country.

The biggest threat to everything you're saying is remote working. The fact that we can live and work from anywhere. Our grandparents, their boss, if their boss owned a company, that company had to physically be in the country and the boss had to physically be in the country.

If we look at today, there are plenty of fitness trainers who work for a gym and the owner of that gym is somewhere overseas. Plenty of people work in a restaurant and the owner of the restaurant lives overseas. You can run a business from anywhere in the world right now. So the problem that we face is that...

If we look at today, there are plenty of fitness trainers who work for a gym and the owner of that gym is somewhere overseas. Plenty of people work in a restaurant and the owner of the restaurant lives overseas. You can run a business from anywhere in the world right now. So the problem that we face is that...

you're describing how on one hand you say we need to tax it at the point of sale, which is a consumption tax. It's not a tax on profits. Okay, and then you say a tax on profit and then you say, oh, but then we'll stop profit shifting. By the way, I'm also actually all for this idea of stopping profit.

you're describing how on one hand you say we need to tax it at the point of sale, which is a consumption tax. It's not a tax on profits. Okay, and then you say a tax on profit and then you say, oh, but then we'll stop profit shifting. By the way, I'm also actually all for this idea of stopping profit.

I've already said I think it's utterly ridiculous the way that many of these global companies are treated and if we don't stop that, then all the money just flows out to the tech companies. So I'm with you on that. But when you say tax the rich, the actual people who own the companies, those people can just be anywhere right now.

I've already said I think it's utterly ridiculous the way that many of these global companies are treated and if we don't stop that, then all the money just flows out to the tech companies. So I'm with you on that. But when you say tax the rich, the actual people who own the companies, those people can just be anywhere right now.

In the UK and the US. Do you really think it's impossible for us to tax that? Well, you're talking about taxing people at $10 million plus, right? So this is a lot of startup entrepreneurs.

In the UK and the US. Do you really think it's impossible for us to tax that? Well, you're talking about taxing people at $10 million plus, right? So this is a lot of startup entrepreneurs.

Jeff Bezos is worth a lot more than $10 million. But you talk about anyone above $10 million is on your radar.

Jeff Bezos is worth a lot more than $10 million. But you talk about anyone above $10 million is on your radar.

I'm not just talking... It's not that.

I'm not just talking... It's not that.

Look, if my objective was to avoid it, I pass a board resolution that we're moving the head office somewhere else. We move the intellectual property somewhere else. I pick up and move my family somewhere else. And within about a week or two, we've got a WeWork office somewhere else. I've got a new house on Airbnb somewhere else.