Lib Dem tax proposals
Posted by Matt Walker on December 1, 2009
What do the Liberal Democrats think about taxation? According to their leader, Nick Clegg, taxation is about “fairness, protecting the environment, rewarding hard work.” Yesterday, the Lib Dems provided details. This is what they are proposing:
taxing properties worth more than £2million
an end to tax relief on pension contributions by higher earners
a temporary 10% tax on bank profits
green taxes to penalise polluters
Raising the income tax threshold to £10,000 so that people earning less than this would pay no income tax.
It is clear that the economy, public spending, and taxation will be central to next year’s general election campaign, for all parties. With the country in recession and a large budget deficit, plans for economic growth, handling public expenditure, and deciding who will or won’t pay to reduce the deficit will be extremely important.
Do these ideas sound appealing?