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There are tax cuts and then there are tax cuts. The ones that the Lib Dems are offering only really apply to the poorest within our society. The Lib Dems are on
by Quarrelsome 17y ago
There are tax cuts and then there are tax cuts. The ones that the Lib Dems are offering only really apply to the poorest within our society.
The Lib Dems are only looking to cut tax on earnings UP TO 10k. Sure this helps everyone but it is much more likely that the tax burden would land on the higher earners if the Lib Dems were in power.
If you have followed UK election history you would be well aware that in last election the Lib Dems were pushing for a 50% band on higher earners (which Labour have since implemented?!?) and a local income tax to replace council tax.
The Tories on the other hand (in this election) are offering tax cuts for the middle and upper classes. They propose that inheritance tax band on estates should only start at 1 million.
However the more important tax cut is around corporation tax where they propose (and my did this make me chuckle) to give a teeny saving to small businesses and a larger saving to big business. It's even more interesting that the way they phrase this (when talking to the public) is spun in such a way that doesn't reveal this interesting fact (about the saving for big businesses being bigger).
Nothing much has changed. Tories are still about tax cuts for the wealthy where Lib Dem and Labour look more at distributing wealth. Tbh ever since New Labour the Lib Dems have looked more left leaning than Labour.
Furthermore here are some choice quotes from the article you referenced:
"The Lib Dems' existing tax pledge to cut 4p off income tax would be funded by hitting the rich by taxing capital gains at the same rate as income tax and closing tax loopholes. There would also be green taxes."
"As Make it Happen says, if you are very rich you will pay more. If you are not rich you will pay less. This is a progressive liberal and distinctive message."