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Radical plans for fair tax not high tax
December 1, 2009 5:52 PM
Average earners in Chelmsford would receive a £700 a year tax cut, and 4 million people would be taken out of tax altogether, under radical plans published this week. The Lib Dem plans, backed by Chelmsford campaigner Stephen Robinson, would make the tax system fairer.
Lib Dem leader Nick Clegg said that the party would raise the threshold at which tax becomes payable from £6,000 to £10,000. The Liberal Democrats would also:
- Close loopholes on capital gains tax and end generous tax breaks on pension relief for the very wealthy
- Bring in a temporary 'mansion tax' on properties worth over £2m
Stephen Robinson said "It is a disgrace that the rich pay a lower share of their income in tax than the poor. Inequality in Britain is as bad now as when Labour came to power, and this is crystal clear in the tax system designed by Gordon Brown."
"It's only fair that the wealthy pay their fair share. We will use the money raised to take people who simply can't afford to huge tax bills out of the tax system altogether, and give a tax cut to those who are struggling most in the midst of the recession."
More about the plans and a short film from Nick Clegg at: http://is.gd/59ng4
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