Dundee LibDems back fairer taxes call
1.27.40pm BST (GMT +0100) Thu 12th Jul 2007
Dundee LibDems back fairer taxes call
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Dundee Liberal Democrats today (Thursday 12th July) gave their backing to radical tax plans that would take the basic rate of income tax to its lowest level since 1916.
This move by Sir Menzies Campbell's Liberal Democrats to cut the basic rate by four pence in the pound would reduce the basic rate of income tax to 16p, benefiting millions of people on low and middle incomes.
The plans are designed lift the tax burden on low and middle income earners whilst making the rich and people with environmentally damaging lifestyles pay a fairer share and proposals include :
· Reaffirming the commitment to abolishing Council Tax, replacing it with a tax based on ability to pay
· Removing tax loop-holes exploited by the super-rich
· Radically simplifying the tax code, removing over 500 pages of unnecessary regulations
· Reforming stamp duty to reduce the amount of tax paid on properties worth less than £500,000
· Reforming Inheritance Tax, with the aim of raising the starting threshold to £500,000
Liberal Democrat Leader, Sir Menzies Campbell said, "Our new proposals will put fairness at the heart of the tax system.
"Only the Liberal Democrats have produced a costed plan to create a tax system that is fair, simple and green. I challenge Gordon Brown and David Cameron to back up their rhetoric by endorsing our plans."
Locally, here in Dundee, Liberal Democrat party secretary Michael Charlton said, "It is good to see the party doing all it can to help lift the tax burden on low and middle income households but also have clear green credentials."
Related Link:
Liberal Democrats propose 4p cut in income tax.
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