Example 2 - Surcharges at 12%

 

Figures are based on 500 million invoices raised
Number of companies = 1 Million
Total invoices raised = 500 Million*
Total value of invoices raised = 1000 Billion*
Surcharge interest at 8% above base rate = 12% per annum (Base rate = 4%)*

 

  70% 10 Days Late 40% 20 Days Late 15% 30 Days Late
Total value of invoices paid late £700,000,000,000* £400,000,000,000* £150,000,000,000*
Surcharge interest at 12% £2,301,369,863* £2,620,136,986* £3,000,000,000*
50% for Exchequer £1,150,684,931* £1,315,068,493* £739,726,027*
25% for charity £575,342,465* £655,034,246* £369,863,013*
25% for business victim £575,342,465* £655,034,246* £369,863,013*

                                                                * Estimated figure

                                                                Formula used for calculation = (Debt x interest x number of days late) / 365

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Robin Hood  

For a simple overview of how the Robin Hood concept could work in practise, refer to the satirically written "Budget Speech"
For a serious overview, refer to the Brief Presentation
Download "The Robin Hood Initiative" as a PDF document (45 colour pages, 814KB)

External links relating to the Author
12-12-12 home page (www.12-12-12.org).  An unusual yet popular book and website written by the author: How well could you run the World?
Systems Management home page (www.irc-online.com).  How well does your organisation run Problem and Change Management?
Azam home page (www.azamit.com).  How well does your organisation communicate with PCs using the spoken word?

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