Tax Cutting LibDems

Political cross dressing is getting increasingly complex, Vince Cable is advocating a 16% starting rate for income tax, abolishing tax breaks on capital gains and pensions plus raising “dirty” taxes. They admit they don’t really aim to cut taxes, just shift the burden around.

Cutting the tax code, raising the stamp duty and inheritance tax threshold are all good, but clobbering capital gains will discourage enterprise and investment. Retirees are in enough trouble after Gordon’s Great Pension Grab without taxing them even more.

Can’t help feeling sorry for multi-millionaire Chris Huhne, it came out during the LibDem leadership battle that he was a prolific investor in capital gains tax shelters…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

John McDonnell tells the Gallery/Lobby lunch what the priest told him to do…

‘He persuaded me to do this. He said you need to soften your image. So do Mumsnet and do this…. I’m trying to soften my image.’

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.