UK households earning more than £70,000 per year would be forced to pay more tax under new proposals by Liberal Democrats, which were launched yesterday at the beginning of its party conference .
Speaking prior to the conference, Lib Dem leader Sir Menzies Campbell, revealed more details of the party’s tax plans . He said that to offset cutting the basic rate of income tax by 4p to 16p, taxes would be raised for higher earners.
Green levies, such as increasing tax on 4x4 vehicles, and removing taper relief on capital gains would be introduced if the party was to come into power, while households earning in excess of £70,000 would be classified under the ‘higher taxes’ group.
Sir Menzies explained that this would be the case "because, extraordinarily under a Labour government, the gap between rich and poor has become greater."
Lib Dems Plan To Hike Taxes For The Rich
Tue, 18 Sep 2007
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