Magazine article Public Finance

LibDems Unveil Big Thinking on Tax to Woo Low Paid and Middle Britain

Magazine article Public Finance

LibDems Unveil Big Thinking on Tax to Woo Low Paid and Middle Britain

Article excerpt

The Liberal Democrats this week set out a radical new package of tax measures in a striking change of direction and a bid to win the backing of the low paid and middle Britain.

Early proposals to emerge from the party's Tax Commission would see the party abandoning its longheld policy of a 5Op tax rate on incomes over £100,000 and slashing the basic rate of income tax by 2p, lifting some 2 million people out of taxation altogether. The upper rate threshold would be raised, meaning a further 1.2 million people would not be paying the top rate of income tax.

The LibDems also want to return environmental taxation to 1999 levels - back to 3.6% of gross domestic product from current rates of 3% - through increased aviation tax, sharp rises in vehicle excise duty on the most polluting cars and a reformed climate change levy. More detailed recommendations are expected to follow next month. …

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