07 December 2009

The Likely Tax Policy created on the gardens of Eton?


The author of the Daily Mail article, a certain James Palumbo, did not spell out the nature of the proposed tax rises. However, the Conservative Party’s policy is to reduce the tax paid by the richest people in society- by cutting the top rate of income tax, raising the threshold for inheritance tax, and reducing corporation tax. So, in the likely event of a Conservative victory at the next general election, any increase in the government’s taxation income would be gained mainly at the expense of the poor and middle-income earners; for example by upping the rate of VAT and by raising the national insurance and income tax burden on low and medium paid workers.

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