[Pounds Sterling]5bn 'Stealth Tax' on Business
BUSINESS is paying out [pounds sterling]5billion a year in new 'stealth taxes', the Tories claim.
The revenue is equivalent to 3p on the basic rate of income tax.
The disclosure flies in the face of Tony Blair's claim in the Commons three weeks ago that business tad has come down under his Government.
Shadow Chancellor Francis Maude will today write to the Prime Minister accusing him of misleading the House, a serious parliamentary offence.
Changes in the payment of corporation tax, the abolition of dividend tax credits, increased road fuel duties, increases in stamp duty and the windfall tax on privatised utilities will combine to bring an extra [pounds sterling]25billion into the Treasury by the next election.
'Mr Blair said before the election that he had "no plans to increase tax at all",' Mr Maude said last night. 'He has broken that promise. But he has done it by raising tax by the back door, hoping business wouldn't notice. …