Monday, November 10, 2014

Labour's Electoral Programme (Part 3)

An Equitable Tax Structure

1. A 10p starting rate of taxation which will benefit those on lower and middle incomes (page 16)

2. A progressive mansion tax on properties worth over £2 million (16)

3. Close down loopholes which allow people and businesses to engage in tax evasion, including their shifting of profits out of the UK (16, 17)

4. Pursue greater transparency around revenues, profits and taxes paid to ensure that the way companies allocate their profits for tax purposes is fair (16)

5. Press for international action to tackle tax aviodance which arises through the use of tax havens (16)

6. End cuts in corporation tax for multinationals and large businesses (17,18)

7. Restore the 50p top rate of tax for those earning over £150,000 (18)  

8. Provide a tax rebate to those companies that sign up to become living wage employers (28)

9. Require companies to publish the ratio of pay of their top earner compared to their average employees (28)

10. Increase the bank levy and use the resources to expand free childcare (28, 87)

11. Abolish the Bedroom Tax (33, 35)

12. Support a progressive taxation system and ensure that the wealthiest individuals and businesses contribute to the society they profit from by prioritising anti-aviodance action in tax enforcement (129)

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