• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Nick Clegg calls for tax cuts worth £18bn

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Nick Clegg calls for tax cuts worth £18bn


    Nick Clegg, the Liberal Democrat leader, will tonight reaffirm his demand for tax cuts worth £18bn for low and middle income earners.
    With Labour and the Conservatives proposing rival tax-cutting strategies in the hope of reviving the economy, Clegg will criticise both parties for the "small-mindedness" of their plans.
    And he will claim that Lib Dem policies could "fundamentally rebalance Britain's unfair tax system", as well as delivering a boost to the economy.
    "We hear talk of tax cuts emerging from Downing Street, but they are likely to be small, and short term," Clegg will say in a speech to the Royal Commonwealth Society.
    "Funded through borrowing, the money will have to be paid back later. So it's meagre tax cuts today, giant tax rises tomorrow from Brown.
    "Meanwhile, the Conservatives want a piffling incentive for businesses to take on new workers that won't put a penny in the pocket of a single family in Britain. Neither package comes close to what's needed.
    "No wonder people are cynical about politics. All they get from the government and the official opposition is timidity and tinkering."
    The Lib Dems are already committed to cutting the basic rate of income tax by 4p in the pound. Clegg will say this would result in a worker on £30,000 receiving almost £1,000.
    The party would meet the £18bn cost of this by cutting top-rate tax relief on pension contributions; taxing capital gains at the same rate as income; imposing green taxes; and tackling corporate tax avoidance.
    Clegg will say that these are real tax cuts, "big, permanent and fair", that would benefit those who need help.
    He will also call for the government to clamp down on tax havens.
    "There's a particular UK responsibility here, since half the world's significant tax havens are under British sovereignty," he will say.
    "I know tighter regulation of offshore companies and banks will be painful for some small Commonwealth states and British dependencies. But it has to happen.
    "Up to £40bn is lost every year in the UK alone through tax avoidance, much of it through offshore havens. That's money that should be recycled into tax cuts for ordinary families."


    guardian.co.uk © Guardian News & Media Limited 2008 | Use of this content is subject to our Terms & Conditions | More Feeds

    More...

View our Terms and Conditions

LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
Working...
X