Financial Matters

[bollocks]

Not well up here, but there was something about including illegal earnings into our GNP introduced by the EU

Others will know better than Bollocks, and hopefully can explain better

What effect will this have in the North for the second half of 2015?

[zoozoozoo]

Interesting point - how can someone ( when the new law comes in ) be charged with living off immoral earnings ( as pimps are at present ) if selling sex is no longer illegal then it follows that the earnings the ladies have cannot be classified as immoral earnings

[Empirical]

Selling sex is legal, but there are considerable restrictions—soliciting, brothel keeping etc. These activities have not changed, it's just the purchaser who will be a criminal.

The "immoral earnings" will remain, though it's not usually called this now. In the UK, even if you run a criminal enterprise and make a profit, the profits are still liable to taxation—the illegality doesn't matter. There are even specialist accountants for escorts in England.

[funlover12]

Selling sex is legal, but there are considerable restrictions—soliciting, brothel keeping etc. These activities have not changed, it's just the purchaser who will be a criminal.

The "immoral earnings" will remain, though it's not usually called this now. In the UK, even if you run a criminal enterprise and make a profit, the profits are still liable to taxation—the illegality doesn't matter. There are even specialist accountants for escorts in England.

criminals paying tax on the illegal business I lold

[Lucy Chambers]

Interesting point - how can someone ( when the new law comes in ) be charged with living off immoral earnings ( as pimps are at present ) if selling sex is no longer illegal then it follows that the earnings the ladies have cannot be classified as immoral earnings

Thats an old charge, it was updated in the UK to cover anyone who profits from another's prostitution. Therefore if you are profiting from prostitution it's still illegal.

[Lucy Chambers]

Selling sex is legal, but there are considerable restrictions—soliciting, brothel keeping etc. These activities have not changed, it's just the purchaser who will be a criminal.

The "immoral earnings" will remain, though it's not usually called this now. In the UK, even if you run a criminal enterprise and make a profit, the profits are still liable to taxation—the illegality doesn't matter. There are even specialist accountants for escorts in England.

We don't need a specialist accountant, you can file your own tax return or use a common or garden one, there is little difference in the books of a beautician to an escort.

[dob]

The inclusion of certain shadowy activities to the calculation of our Gross domestic production added about 0.7% to the national economic output. As to where this figure came from (pulled it out of their arses?) and how it was calculated, it is something of a mystery, but I would think the contribution of illicit drugs would be the lions share of this 0.7%. However it does reduce the debt to GDP ratio, which is a good thing.
As for the NI economy, NI is the smallest part of the UK economy and its GDP is lower per capita than the rest of that economy too, and the 0.7% estimate is also used by the UK, I suggest that any reduction to the contribution of the sex industry due to Maurice Morrows law would be negligible. (Ie fuck all difference)

[liffey]

(pulled it out of their arses?)

Basically, yes.

http://www.telegraph.co.uk/women/sex...g-a-laugh.html

Dr Brooke Magnanti

As a former escort, I can say with confidence that nearly everything you know, or think you know, about the money involved in sex work is wrong. And while I don't know much if anything about the black market for illegal drugs, I'll take a punt that most of the numbers flying around to do with that are wrong, too.

And another, with more links...
http://theconversation.com/is-prosti...n-a-year-33497

[bollocks]

The inclusion of certain shadowy activities to the calculation of our Gross domestic production added about 0.7% to the national economic output. As to where this figure came from (pulled it out of their arses?) and how it was calculated, it is something of a mystery, but I would think the contribution of illicit drugs would be the lions share of this 0.7%. However it does reduce the debt to GDP ratio, which is a good thing.
As for the NI economy, NI is the smallest part of the UK economy and its GDP is lower per capita than the rest of that economy too, and the 0.7% estimate is also used by the UK, I suggest that any reduction to the contribution of the sex industry due to Maurice Morrows law would be negligible. (Ie fuck all difference)

Great to have someone like dob to be an expert on so many topics.

Any idea as to what0.7% is in money terms?

Thanks again