LibDems Offer Tax Avoidance Legacy Scheme

Back in July Guido revealed how both the Tories and Labour were advising their donors how to avoid tax through controversial inheritance schemes. Now it appears the LibDems have followed suit. Right at the beginning of this year’s conference guide yellow benefactors are encouraged to sign up for their new “legacy fund campaign“, where donors “leave a sum of money or a share of your estate to the Liberal Democrats“. Generous participants even get the chance to meet Tim Farron…

The LibDems have been slightly more subtle than their Coalition counterparts – rememberClick here to see how a gift to the Conservative Party can reduce your inheritance tax bill” – but it would appear that the boundary reform busters are up to the same trick. They note that “legacy income provides an important part of the funding for most major charities, and so it should for us too“, hinting that they will take advantage of inheritance tax loopholes to help their donors avoid tax. What was that about morally repugnant…




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Quote of the Day

John Curtice on fiscal policy:

“Attitudes to taxation and spending are basically counter-cyclical. If a government comes in and tries to reduce spending and taxation, after a while people will get worried about the state of public services. If a government increases taxation and public spending, after a while they’ll get concerned about increasing taxation…. In as much as there are lots of ideologues out there who think the state should be this proportion of GDP, they’re all wrong. Because the public’s view is counter-cyclical to the recent experience. It’s basically impossible to satisfy the public.”

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